Australia's regional hotels are performing better than ever as COVID-19 state border closures and international travel restrictions force holidaymakers to travel closer to home.
Rarely do regional hotels outperform their CBD counterparts, but they are now, with an A$18 premium on average room rates.
And in the words of Australian hotel mogul Jerry Schwartz, "that's really the only good news that we have in the hotel industry: that regional hotels and regional Australia are doing so well."
So, how are investors, owners and operators capitalising on this regional hotels phenomenon?
Plus, could office buildings abandoned by business choosing to work from home, have new life as hotels?
Geoff York, acting chief executive and group director at hospitality company Crystalbrook Collection; Julian Clark, chief executive of boutique hotel operator Lancemore Group; Brett Forer, development general manager of Accor’s Pacific hotels; Matthew Burke, Pacific Regional Manager of industry analyst STR; and Jerry Schwartz; director, Schwartz Family Company.
Host: Rebecca Kent, content manager, JLL