CONTINUED high occupancy rates and room rates in the Perth hotel sector have ensured a positive trading performance for Fraser Suites Perth, the city’s first major new hotel in six years.
Perth’s hotel occupancy rate continues to lead the nation, averaging 85.1 per cent for the year to December 2012, Deloitte Access Economics’ latest industry outlook report has found.
In addition, Perth is the most expensive capital city in Australia for hotel accommodation, according to the latest survey by booking website hotels.com. The average rate in Perth hotels (two-star to five-star) over 2012 was $211 a night, up 15 per cent over the year, hotels.com found.
Fraser Suites Perth general manager Bernard Teo said the apartment-style hotel has quickly achieved occupancy rates in line with the industry average since opening in October last year.
With 236 apartments, it is the sixth largest live-star hotel in Perth, according to the WA Business News Book of Lists.
The hotel (pictured below) is part of a four-building development, with Fraser Property Australia proceeding with the first of three luxury apartment towers next to the hotel in East Perth.
A second new hotel to open last year was the boutique Terrace Hotel at the top end of the terrace, with 15 rooms.
A further three hotel projects are in the offing in the city, including a BGC development, a waterfront hotel at Barrack Square, and a boutique development in the Old Treasury Building.
In addition, Crown plans a 500-room luxury hotel at Burswood.
Deloitte said the lag before these hotels hit the market meant occupancy rates would increase to 86.3 per cent by the end of 2015, resulting in room rates growing by an average of 9.3 per cent per year.
