a guide to hotel investment in brisbane, australia 2014

A guide to

HOTEL INVESTMENT IN BRISBANE, AUSTRALIA

2014

09

2 million

population

$135 billion economy

4.3 77%

million visitor nights

occupancy

8.1% growth in ADR

to $183 1.97 million

room nights sold

278,000 room nights deferred each

year due to supply shortage

09

Contents

Premier’s Foreword 02

Lord Mayor’s Foreword 03

Why invest in Brisbane hotels 05

Brisbane – Australia’s premier hotel investment destination 08

Economy 09

Resources and Energy 09

Infrastructure 10

Driving tourism demand 16

Business events 16

Major events 19

World-class precincts 22

Strong demand 26

Purpose of visit 26

Visitor origin 26

Visitor expenditure 27

Visitor nights 28

Robust trading conditions 30

Trading by sub-market 31

Trading by star category 31

Room to grow 34

Hotels versus serviced apartments 34

Supply by star category 35

New hotel supply 35

Future sustainable supply 36

Pro-business environment 38

Thinking of investing? 42

Appendix 46

01 Hotel Investment in Brisbane, Australia

Premier’s Foreword

My government is focused on revitalising the tourism industry and returning Queensland to its rightful place

as Australia’s number one tourist destination.

We believe it is important that local and state governments work together to support growth - not only in hotel supply and demand, but also with the development of new facilities and infrastructure. To reinforce this, we have set an ambitious target to double overnight visitor expenditure from $15 billion to $30 billion by 2020, creating even more jobs for the tourism sector.

Tourism and construction are two of the critical pillars of the Queensland economy which will continue to grow as local and state governments work towards providing a better business environment with streamlined planning processes.

Already, Queensland has one of the fastest economic growth rates in the nation, cementing our position as the best place in Australia to invest, employ and grow your business. The economy continues to expand, growing at 4.1 per cent, with Queensland creating more jobs than any other state in the last twelve months.

In 2013, Brisbane experienced strong growth in both international and domestic leisure visitors. Increased visitation has led to more travellers looking for quality hotels, leading to greater investment demand in the leisure market.

Excitingly, in November 2014, the world’s attention will be focused squarely on Brisbane – with the G20 Leaders Summit being held in the city.

As part of our commitment to the city’s growth, this government has released public land for development - the most significant being the Queen’s Wharf Precinct. Opening up this historic site for development presents a unique opportunity for developers and investors to contribute to the creation of a landmark attraction within the heart of the CBD.

Our partnership with Brisbane City Council continues to support the development of new hotels in Brisbane, as well as create events and new infrastructure that will drive demand and bring more visitors to Brisbane City.

We have set our sights on helping this great city become a world class destination, and I believe this vision is starting to be realised. The Queensland Government will continue to play our part by helping grow the economy and by creating more jobs and more opportunities for Queenslanders.

Campbell Newman Premier of Queensland

“Tourism and

construction are two

of the critical pillars

of the Queensland

economy”

Hotel Investment in Brisbane, Australia 02

Lord Mayor’s Foreword

As Australia’s New World City, Brisbane offers incredible opportunities for investment and growth.

Two years ago I committed resources to attract and facilitate new hotel investment in the city, following research undertaken by Brisbane Marketing which revealed a chronic undersupply of quality hotel rooms.

Since the Guide to Hotel Investment in Brisbane was first released last year, we have seen early signs of success with the construction and development of a number of new hotels well underway. This is great progress and reflects increased levels of hotel investment in the city.

Nonetheless, the latest figures, detailed in this updated edition of the guide, show we are still forgoing thousands of room nights each year and missing out on millions of dollars in lost visitor expenditure.

Substantially more investment is needed to bridge the remaining gap between available supply and anticipated demand.

In recent years there has been considerable investment by Brisbane City Council to improve the city’s appeal as a visitor destination, including a new leisure campaign and specific activity to drive weekend visits. This, in combination with an improved corporate travel environment, is expected to drive strong future demand.

As host of the 2014 G20 Leaders Summit, Brisbane has a once-in-ageneration opportunity to showcase its credentials as a new world city.

This event, and the 7000 delegates and international media in attendance, is expected to exponentially drive further demand for more hotel rooms in the city.

As we attract new hotels to the city, improved levels of supply will also enhance Brisbane’s reputation as a premier convention and tourist destination, attracting even more visitors from emerging markets like China.

Chinese visitation to Brisbane continues to grow, with figures indicating a staggering 240 per cent increase over the past 10 years.

As this report shows, Brisbane continues to offer significant opportunities for hotel operators, investors and developers.

From a national trading perspective, Brisbane performed above the Australian average in 2013 and was among the best-performing hotel markets in the country.

The development of more four and five-star branded hotels in Brisbane remains one of the city’s top priorities and I welcome further hotel investment in the city.

Graham Quirk Lord Mayor of Brisbane

“The development

of more four and

five-star branded hotels

in Brisbane remains

one of the city’s top

priorities”


Why invest in Brisbane hotels

Brisbane’s status as Australia’s dynamic

new world city was further bolstered by

the announcement Brisbane will host

the 2014 G20 Leaders Summit. With the

world’s eyes on Brisbane, there is no better

time to consider investment in new hotels.

Due to the increasing demand for internationally recognised, branded hotel room supply, it is estimated that Brisbane is missing out on approximately 121,000 visitors a year and $140 million in visitor expenditure. This equates to an estimated 278,000 deferred room nights every year – approximately 14 per cent of current demand.

New branded hotel supply in Brisbane is crucial to satisfy growth markets which are being driven by business and events, leisure visitors and developing markets like China. These growth markets are seeking full service and internationally branded hotels.

This investment guide provides an analysis of the core fundamentals supporting the Brisbane hotel market, allowing prospective hotel investors, developers and operators to assess and build a credible business case to invest.

The Brisbane hotel market is rich with opportunity. Here’s why:

Excellent economic fundamentals

With more than 45 per cent of Queensland’s population and an economy valued at $135 billion, Brisbane is the economic, tourism and business hub of Queensland:

• Brisbane’s economy is forecast to grow by more than 60 per cent by 2031 to $217 billion

• Population of over two million, expected to increase to over three million by 2031

• World-class infrastructure driving economic and visitation demand with more than $7.5 billion worth of infrastructure under construction or in the pipeline

• More than $75 billion worth of resources and energy projects committed or under construction in Queensland.

Growing tourism demand

The local, state and federal government, through Brisbane Marketing, Tourism and Events Queensland, and Tourism Australia, continue to work collaboratively to grow visitation demand:

• Long-term destination marketing being delivered with a greater focus on targeting leisure and international visitors to the city

• More than 147,000 convention delegates hosted and welcomed in 2013

• Robust and well-established year-round calendar of major events and conferences

• Outstanding range of convention and major events venues underpinning secured events.

World-class precincts

Brisbane is home to a number of established and emerging retail, entertainment and dining precincts, with the Queensland Government and Brisbane City Council working to unlock land for private development including:

• Development and release of a new city centre master plan which provides a clear vision for future investment and development

• Home to leading dining, entertainment and retail precincts such as South Bank and Queen Street Mall

• Strong commitment from both local and state government to develop new world-class precincts such as Queen’s Wharf, Howard Smith Wharves and Kurilpa Riverfront.


Strong demand Brisbane’s visitor economy is growing strongly, particularly in key segments like leisure and events travel, and Asian tourism:

• 4.3 million visitor nights in 2013

• $6.1 billion spent by visitors to Brisbane in 2013

• Chinese visitors numbers growing at 21.8 per cent per annum since 2008

• 10 per cent increase in leisure travellers staying in hotels in 2013.

Robust trading conditions Despite weaker trading conditions experienced in 2013, Brisbane continues to be the fourth-best performing market in Australia, with healthy trading forecast in 2014 and beyond:

• 77 per cent average occupancy rate in 2013

• 1.97 million room nights sold in 2013, representing an increase of 1.9 per cent since 2009

• Average Daily Rate (ADR) increase of 8.1 per cent since 2009 to 2013 (or average annual growth of 2.0 per cent) to $183

• Revenue per available room (RevPAR) increase of 10.3 per cent since 2009 to 2013 (or average annual growth of 2.5 per cent) to $142.

Room to grow Growth in capacity is required to enable the market to grow demand and attract new visitors to the city. Brisbane’s hotel market has not kept pace – creating opportunities for investors, developers and operators to plant a flag here:

• Less than 3 per cent increase in total room supply added to the market since 2010

• To meet increasing demand from China and leisure visitors seeking recognised brands and premium service, it is estimated Brisbane needs an additional 216 to 330 rooms per year to 2022.

Pro-business environment Private sector investment is strongly supported by state and local governments, with active support and facilitation for new investors, including:

• Dedicated case managers for investors, developers and operators looking for hotel opportunities in Brisbane

• Streamlined approvals by both levels of government for hotel projects

• Strong funding commitment in destination marketing to build demand from leisure and international visitors

• Funding secured to attract greater aviation capacity and new routes into Brisbane

• Lowest payroll taxes in Australia.

The Queensland Government and Brisbane City Council are working together in partnership to promote new investment in Brisbane hotels. If you are interested in investing, this guide provides you with information and contacts to take the next step.


Brisbane – Australia’s premier hotel investment destination

Brisbane, Australia’s new world city,

is an economic powerhouse and

the tourism and business hub of

Queensland. With a population of

over two million, Brisbane has more

than 45 per cent of the state’s

population, with an economy valued

at $135 billion. Recognised as one

of Australia’s major business and

commercial hubs, corporate companies

have been attracted to Brisbane’s

consistently strong economic

performance, highly skilled and creative

workforce, and some of the world’s

most advanced infrastructure.

“As the closest

capital city on the

eastern seaboard to

Australia’s three largest

export markets, Brisbane is

ideally located to attract

global business”

Economy Brisbane

Queensland’s capital, the City of Brisbane, is Australia’s third-largest capital city, covering more than 1300km2

in area with a population of more than 1.11 million. The Greater Brisbane region, which extends beyond the Brisbane metropolitan area to Ipswich, Logan, Moreton Bay and Redlands, has a population of 2.13 million with a total employed workforce of 1.1 million.

As the closest capital city on the eastern seaboard to Australia’s three largest export markets – China, Japan and South Korea – Brisbane is ideally located to attract global business within a similar time zone. The city has become a world-leading mining and resource sector hub, with a large number of companies providing goods, services, technologies and innovative manufacturing to this sector.

Brisbane Key Statistics

Brisbane LGA

1338

Greater Brisbane

15,852 Area (km2)

Population 20121 1,110,473 2,192,065

Population 2031 (forecast)2 1,272,272 3,042,276

Population growth 14.6% 38.8%

Population growth (per

annum) 0.7%

Brisbane LGA

13,748,693

1.7%

Growth (%)

52.0%

Total floor space 2011 (m2)3

Total projected floor space

2031 (m2)3 20,892,341

Value of economy 20134 $135 billion

60.7% Projected value of economy

20315 $217 billion

1 Australian Bureau of Statistics. 2 Office of Economic and Statistical Research, Queensland Treasury, medium series. 3 Brisbane City Council, Brisbane Inner City Investment Prospectus, Second Half 2013. Floor space includes retail, commercial, industrial, community purpose and other – excludes residential. Statistical area includes Brisbane City, Fairfield-Dutton Park, Fortitude Valley, Highgate Hill, Kangaroo Point, Kelvin Grove-Herston, New Farm, Newstead-Bowen Hills, Paddington-Milton, Red Hill, South Brisbane, Spring Hill, West End and Woolloongabba. 4 Brisbane City Council Estimate 5 Brisbane City Council, Brisbane 2012-2031 Economic Development Plan.


Source: Australian Bureau of Statistics, Australian National Accounts: State,

2012-13 (Chain Volume Measures)

Source: Australian Government, Mid-Year Economic and Fiscal Outlook 2013-14;

Queensland Government, State Budget 2013-14 and Mid-Year Fiscal and

Economic Review 2013-14

Economy Queensland

The Queensland economy has continued to outperform the rest of Australia in recent years, averaging 4 per cent growth over the decade to 2012-13. This is well above the Australian average of 3 per cent, and second-highest among Australian mainland states. Valued at over $290 billion, Queensland’s economy is forecast to continue to grow above the Australian average out to 2016-17.

Resources and Energy

In recent years, Queensland’s Resources and Energy sector has underpinned the state’s economic growth, driven predominantly by significant business investment in major liquefied natural gas (LNG) and coal projects. While commodity prices have moderated since reaching record highs in 2011, they remain high by historical standards and the investment pipeline for the state is strong.

In October 2013, the Bureau of Resources and Energy Economics identified $77 billion of Queensland projects at the committed stage (including projects under construction) and a further $99 billion at the feasibility stage – a total pipeline in excess of $175 billion.


Major Queensland Resources and Energy Projects in the Investment Pipeline

Project Proponent Value

Committed / Under Construction

Australia Pacific LNG Origin Energy / ConocoPhillips $24.7 billion

Queensland Curtis LNG Queensland Gas Company $19.8 billion

Gladstone LNG Santos, PETRONAS, Total, KOGAS $18.0 billion

Caval Ridge BHP Mitsubishi Alliance $4.2 billion

Hay Point Coal Terminal BHP Mitsubishi Alliance $3.1 billion

Wiggins Island Coal Terminal WICET Consortium $2.4 billion

Feasibility Stage

China First Coal Project Waratah Coal $8.8 billion

Alpha Coal Project GVK - Hancock Coal $8.2 billion

Carmichael Coal Project Adani $7.1 billion

Kevin's Corner GVK $4.2 billion

Source: Bureau of Resources and Energy Economics,

Deloitte Access Economics Investment Monitor

Major Infrastructure Projects in Brisbane

Infrastructure Delivery Investment

Under planning/ construction*

Legacy Way (Northern Link Tunnel) 2015 $1.5 billion

Kingsford Smith Drive upgrade (Stage 2 and 3) Staged $650 million

Brisbane Airport new parallel runway 2020 $1.3 billion

Bus and Train (BaT) Tunnel 2021 $5 billion

Completed

Port Connect (upgrade of the Port of Brisbane Motorway) 2013 $385 million

Airport Link Tunnel 2012 $4.8 billion

Keperra to Ferny Grove rail upgrade 2012 $100 million

Darra to Springfield rail corridor (Stage 1) 2011 $800 million

Clem Jones Tunnel 2010 $3 billion

Gateway Upgrade and Bridge Duplication 2010 $1.88 billion

Go Between Bridge 2010 $328 million

Ted Smout Memorial Bridge (Houghton Highway duplication) 2010 $315 million

Sandgate to Redcliffe

Corinda to Darra rail upgrade 2010 $189 million

Acacia Ridge rail crossing 2010 $113 million

Source: Brisbane Marketing

*Delivery date and investment for infrastructure projects under planning/ construction is an estimate only.

Major greenfield opportunities are yet to be developed in the state – particularly the vast coal resources of the Galilee Basin which will attract significant infrastructure investment. Furthermore, new opportunities will arise for companies supplying major mining and unconventional gas projects as they move from the construction to operational phase.

Brisbane will continue to form a major hub for resources and energy companies as these projects progress over coming decades. The city is home to an array of companies that operate along the resources and energy supply chain, including: equipment manufacturers; technology developers; providers of services (such as: engineering; construction; contracting; and drilling) as well as a vast research and development presence made up of government institutions, universities and private companies.

Infrastructure

With a strong vision for the future, the Brisbane City Council and Queensland Government’s long-term commitment to invest in critical infrastructure continues to transform the city’s landscape with the ongoing delivery of new road, tunnel and rail links.

Since 2010, over $11.5 billion has been invested in key infrastructure in Brisbane, with significant projects under construction or in planning worth in excess of $8 billion.



Brisbane Airport

Brisbane Airport, situated just 12km from the central business district (CBD), operates curfew-free and offers aroundthe-clock capacity; allowing Brisbane to link to international networks hubbing from cities including Dubai, Singapore and Bangkok. The airport’s modern domestic and international terminals are linked by modern arterial roads (the newly constructed Airport Link Tunnel) and have a direct rail link to the CBD and the Brisbane suburban rail network.

In 2013, Brisbane Airport’s 28 airline partners handled a record 21.8 million passengers, an average growth of 6.1 per cent per annum over the past 10 years since 2003. Australia’s third-busiest airport services 28 international and 44 domestic destinations, with more than 3760 scheduled direct flights each week.

Brisbane Airport Corporation began construction of a new parallel runway in 2013 as part of a $1.3 billion infrastructure investment. The addition of the new runway will see Brisbane Airport operate on the same level of capacity as airports in Singapore and

Hong Kong, and upon completion in 2020 it will become the most

efficient runway system in Australia.

Brisbane Airport Scheduled Network

Direct Destinations, YE June 2013

Destinations Frequency*

International

Asia 9 85

New Zealand 5 92

Pacific 10 53

North America 3 21

Middle East

Total

2

29

21

272

Destinations Frequency*

Domestic

Sydney 1 290

Melbourne 2 233

Canberra 1 56

Regional Queensland 25 598

Regional New South Wales 5 89

Other

Total

10

44

157

1423

Source: Brisbane Airport Corporation

*frequencies per week, one way

Airline Carriers Serving Brisbane

Asia & Middle East

Cathay Pacific

New Zealand & Pacific

Aircalin

Australia

Alliance Airlines

China Airlines Air New Zealand Jetstar

China Southern Airlines Air Niugini Qantas

Emirates Air Vanuatu QantasLink

Etihad Fiji Airways Skytrans

EVA Airways Hawaiian Airlines Tiger Airways

Garuda Indonesia Our Airline (Air Nauru) Virgin Australia

Korean Air Solomon Airlines

Malaysia Airlines Virgin Samoa

Philippine Airlines

Singapore Airlines

THAI International

Source: Brisbane Airport Corporation

Pass

ange

r No.

*

Source: Brisbane Airport C orporation

*Excluding transit passengers

Direct international routes

Singapore

Hong Kong

Los Angeles Dallas

Brisbane

DubaiAbu Dhabi

Honolulu

Seoul

Taipei Guangzhou/Beijing

Bangkok

Kuala Lumpur

Wellington

Auckland

Manila


“The addition of the new runway will

see Brisbane Airport operate on the same level of capacity as

airports in Singapore and Hong Kong”


v

Australia’s fastest-growing capital city container port and

Queensland’s largest multi-cargo port”

Cruise Terminals

The cruise industry has experienced consistent growth in Queensland largely due to Brisbane’s strategic location on Australia’s east coast; ideally situated just one sea-day away from Sydney or the Whitsunday Islands, and two sea-days from Cairns or the Pacific island of New Caledonia.

The growing popularity of Brisbane as a base port for the Australian cruise industry is demonstrated by the number of ships visiting Brisbane between 2008-09 and 2012-13, which saw average growth of 13 per cent per annum. The popularity of Brisbane as a cruise destination has increased from approximately 150,000 passengers in 2008-09 to almost 325,000 in 2012-13; constituting an average annual growth rate of 21.3 per cent.

Brisbane has two cruise facilities located at Brisbane’s Portside Wharf precinct in Hamilton and the Port of Brisbane respectively. Portside Wharf – situated just 7km from the Brisbane CBD – is capable of welcoming ships up to 270m in length, complete with a state-of-the-art terminal facility. The Port of Brisbane accommodates larger vessels, such as The Queen Mary II.

Source: Tourism and Events Queensland

Port of Brisbane Trade, FY 2012/13

Rank*

1

Imports

Commodities

Crude oil

Country of Origin

Global

Rank*

1

Exports

Commodities

Coal

Country of Destination

Japan

2 Refined oil Singapore 2 Agricultural seed Japan

3 Cement Australia 3 Refined oil Australia

4 Iron & steel China 4 Meat products Japan

5 Building products China 5 Cotton China

6 Machinery USA 6 Iron & steel Vietnam

Source: Port of Brisbane 2014

*By tonnage

“The Port of Brisbane is


v

Port of Brisbane

The Port of Brisbane is Australia’s fastest-growing capital city container port and Queensland’s largest multi-cargo port, handling in excess of $50 billion in global trade and over one million containers annually.

The port offers world-class cargo-handling and warehousing facilities for containers, general cargo, motor vehicles and bulk commodity exports from the coal basins and agricultural regions of southern Queensland and northern New South Wales.

Strategically located at the mouth of the Brisbane River and just 24km from the city’s CBD, the port comprises 7.86km of quay line, 1047ha of land holdings and 999ha of deep water berths and channel access.

A vital link between Australia and overseas markets, the Port of Brisbane is the closest major container port to Australia’s largest export markets in the Asia Pacific rim, being up to five sailing days closer than southern ports in Sydney and Melbourne.

The port is a critical trade hub for Queensland, accounting for approximately 50 per cent of the state’s international trade, 95 per cent of the state’s motor vehicle imports, 100 per cent of the state’s meat exports, 75 per cent of Australia’s beef exports, and 50 per cent of Queensland’s agricultural exports.

The Port of Brisbane Pty Ltd is responsible for the management of the port, and in the past 20 years has invested over $1.6 billion into port infrastructure and assets. Today, more than 35 shipping lines service the port, making over 2500 ship calls each year. The table adjacent details the top six commodities the Port of Brisbane imports and exports, globally and domestically.

BaT Tunnel

In a world first, Brisbane will begin construction of an underground bus and train project named the BaT (Bus and Train) Tunnel, which will provide a critical new link in South East Queensland’s public transport network. With construction to begin in 2015, the BaT is a new innovation in public transport, and will be the first of its kind to combine rail and bus networks in a single, double-decked, 15m-wide tunnel.

The BaT will provide a 5.4km north-south tunnel, linking Dutton Park on Brisbane’s south to Victoria Park on the north, delivering three new stations in high residential and commercial areas at Woolloongabba, George St and Roma St. Specifically, the station at 63 George St will provide a new access point at the southern end of the CBD, creating greater accessibility to the new Queen’s Wharf Brisbane precinct, Brisbane’s CBD and QUT Garden’s Point campus. In addition, the BaT will increase the number of services to the CBD, including additional express services.


“Long-term strategies in

destination marketing are

being delivered with a greater

focus on attracting more

leisure and international

visitors to the city”


Driving tourism demand

As the city’s regional tourism

organisation and convention bureau,

Brisbane Marketing continues to work

collaboratively with industry and key

stakeholders, such as Tourism and Events

Queensland, and Tourism Australia, to

realise growth in visitation demand.

Strategic destination marketing and business development continues to be driven across conventions, leisure tourism and major events to deliver growth from international and domestic markets.

A strong corporate market has been the major driver of demand in Brisbane. Historically, Brisbane has attracted 15 per cent of all international leisure visitors to Australia. During 2013 however, the city experienced growth in both international and domestic leisure visitors; demonstrating the profile and popularity of Brisbane as a leisure destination is on the rise. With this in mind, specific long-term strategies in destination marketing are being delivered with a greater focus on attracting more leisure and international visitors to the city.

Business events

Brisbane’s reputation as a world-class destination for meetings and conferences continues to be strengthened with the growth and emergence of new venues and event services, as well as a range of high-profile international conferences. The city’s status as a meetings, incentives, conference and exhibition (MICE) destination of choice was further bolstered with the announcement Brisbane will host the 2014 G20 Leaders Summit.

During the past five years, Brisbane has witnessed growth across the business events market, with healthy increases across events, delegates and delegate days, despite weaker conditions in 2013. Since 2008, total events increased by an average rate of 7.9 per cent per annum, with 1400 events hosted in the city in 2013 compared with fewer than 1000 in 2008.

The business events market has historically been underpinned by the corporate sector, with 71 per cent of total events held in 2013 hosted by corporate organisers.

G20 Leaders Summit

It is anticipated more than 7000 visitors, including world leaders and international media, will descend on Brisbane for the G20 Leaders Summit. Hosted at the Brisbane Convention & Exhibition Centre, the G20 Leaders Summit will put Brisbane and its businesses at the centre of world events; providing opportunities to promote tourism, build international networks, and highlight the talent and future of Brisbane.


The city enjoys a host of premium business event venues, including Australia’s most-awarded convention venue, the Brisbane Convention & Exhibition Centre (BCEC), which completed a $140 million expansion in 2012 to provide a range of flexible meeting spaces with a total capacity of 8000.

In 2013, Brisbane welcomed two world-class convention venues – the $59 million Royal International Convention Centre (RICC) at the Brisbane Showgrounds, and the Brisbane City Hall located in Brisbane’s King George Square which has undergone a $215 million restoration.

21% 22% 18% 19% 14% 16%

Source: Queensland Business Events Survey, Queensland Treasury and Trade

Brisbane Events, Delegates and Delegate Days

YE June

Financial Year

2008

Events

956

Delegates

106,613

Delegate Days

378,137

2009 1001 80,540 215,804

2010 1280 110,111 310,420

2011 1836 139,395 348,992

2012 2126 165,938 439,920

2013

Total growth 2007-2013 (No.)

1401

445

147,981

41,368

438,290

60,153

Total growth 2007-2013 (%) 46.5% 38.8% 15.9%

Average annual growth 2007-2013 (%) 7.9% 6.8% 3.0%

Source: Queensland Business Events Survey, Queensland Treasury and Trade


Brisbane’s Top 10 Business Event Venues

by capacity theatre style

Venue

Brisbane Convention & Exhibition Centre (BCEC)

Total Capacity

(people)*

8000

Meeting

Rooms

44

Royal International Convention Centre (RICC)** 3200 26

Brisbane City Hall 2000 11

Hilton Brisbane 800 19

Sofitel Brisbane Central 1100 11

Pullman Brisbane King George Square 730 12

Mercure Hotel Brisbane 830 11

Royal on the Park Brisbane 700 8

Rydges South Bank 550 8

Stamford Plaza Brisbane

Total

300

18,210

10

160


* approximately

** There is additional capacity across the Brisbane Showgrounds which has not been accounted for.

Secured Conferences

with more than 1000 delegates

Conference

2014 Scientific Meeting of the Asia

Pacific Association for the Study of

the Liver

Origin

International

Date

Mar 2014

No. of

Days*

4

Total

Delegates*

2500

2014 Congress of the Asia Pacific

Initiative on Reproduction (ASPIRE)

International Apr 2014 3 1500

2014 National Band Championships National Apr 2014 4 2000

World Congress of Audiology 2014 International May 2014 6 1600

International Union for Pure & Applied

Biophysics (IUPAB) 2014

International Aug 2014 5 1500

Australian Woodworking Industry

Suppliers Association (AWISA)

Exhibition 2014

National Aug 2014 4 4000

World Congress of International

Association of Applied Linguistics

(ALIA) 2014


XXIXth International Horticulture

Congress 2014


2014 Australian International Education

Conference (AIEC)

National Oct 2014 4 1300

G20 Leaders Summit 2014 International Nov 2014 2 7000

2015 ICASSP (International Conference

on Acoustics, Speech and Signal

Processing)


2015 International Scientific Meeting of

the Royal College of Obstetricians and

Gynaecologists (RCOG)

Total


29,400


*Estimate

A list of the city’s top 10 venues is featured adjacent, with these venues alone having the capacity to accommodate approximately 18,200 people across 160 meeting rooms.

Brisbane Marketing’s Convention Bureau works with Brisbane’s business events industry to market Brisbane as a leading business events destination. The city has secured a strong calendar of future conferences for 2014 and beyond, some of the conferences as outlined in the table below were led by Brisbane Marketing and others were led by the BCEC and done in partnership with Brisbane Marketing.

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Major events

Brisbane is home to an extensive range of world-class major event venues, which bolster the city’s ability to continue to attract premier events that drive intrastate, interstate and international visitors to the city.

The city has a robust and well-established year-round calendar of major events that successfully attract theatre, music, art, sport and food lovers from around Australia and the globe. Brisbane, a sport-loving city, is home to the Brisbane Roar, Brisbane Lions, Brisbane Broncos, Brisbane Heat, Queensland Firebirds, Queensland Bulls and Queensland Reds.

In 2015, Brisbane will play host to the Asian Football Confederation (AFC) Asian Cup with seven matches played at Suncorp Stadium attracting players and spectators from 16 nations across the Asia Pacific region, as well as the 11th International Cricket Council (ICC) Cricket World Cup.

Brisbane’s Top Major Event Venues

Venue

Brisbane Convention & Exhibition Centre (BCEC)

Location

South Brisbane

Primary Use

Concerts, exhibitions,

netball

Brisbane Cricket Ground (The Gabba) Woolloongabba International and

Twenty20 cricket, AFL

Brisbane Entertainment Centre Boondall Concerts

Brisbane Powerhouse New Farm Theatre, arts and

exhibitions

Brisbane Showgrounds Bowen Hills Exhibitions

Queensland Tennis Centre Tennyson Tennis

Queensland Art Gallery/ Gallery of Modern Art South Bank Exhibitions

Queensland Museum South Bank Exhibitions

Queensland Performing Art Centre (QPAC) South Bank Arts, festivals, popular

entertainment

River Stage, Botanical Gardens CBD Concerts

South Bank Parklands South Bank Festivals

State Library of Queensland South Bank Exhibitions and festivals

Suncorp Stadium Milton Concerts, soccer, NRL,

rugby union


Gallery of Modern Art

Brisbane is home to Australia’s largest gallery of modern and contemporary art, the Gallery of Modern Art (GOMA), which is Australia’s second-mostvisited gallery, and the 31stmost-visited gallery in the world, attracting more than 1.48 million visitors in 2012. The gallery’s flagship exhibition, the Asia-Pacific Triennial of Contemporary Art (APT), is a major exclusive international exhibition attracting more than 550,000 attendees.

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Asia Pacific Screen Awards

Brisbane is host to the internationally televised Asia Pacific Screen Awards (APSA), with hundreds of film industry practitioners from Asia Pacific attending to witness the region’s highest accolade in film. The Asia Pacific Screen Awards recognise and promote the cinematic excellence and cultural diversity of the world’s fastest-growing film region, comprising 70 countries and 4.5 billion people.

To find out more visit asiapacificscreenacademy.com

Brisbane Major Events Calendar

Event What Date Venue

Brisbane

International Tennis January

Queensland Tennis

Centre

Queensland Reds Rugby union February to June Suncorp Stadium

Brisbane Comedy

Festival Arts festival February to March

Brisbane

Powerhouse

Queensland

Firebirds Netball March to June BCEC

Brisbane Lions AFL March to September The Gabba

Brisbane Broncos NRL March to September Suncorp Stadium

Anywhere Theatre

Festival Arts festival May Across Brisbane

Brisbane Racing

Carnival Horse racing May to June Eagle Farm

State of Origin NRL May to July Suncorp Stadium

City2South Fun run (14km) June CBD to South

Brisbane

International Tests Rugby union June-September-

October Suncorp Stadium

Regional Flavours Food festival July South Bank

Royal Exhibition

(EKKA)

Agricultural

exhibition August

Brisbane

Showgrounds

Brisbane Festival Arts festival September South Bank

Bridge2Brisbane Fun run (5km &

10km) September

Gateway Bridge

to Brisbane

Showgrounds

Queensland Bulls Cricket October to March The Gabba

Brisbane Roar Soccer October to March Suncorp Stadium

International Test Cricket November The Gabba

Asia Pacific Screen

Awards Screen awards December Brisbane City Hall

Christmas Parade and

lightshow December South Bank and CBD

Brisbane Heat 20/20 cricket December to

January The Gabba


“The city has

a robust and well-

established year-round

calendar of major events

that successfully attract

theatre, music, art, sport and

food lovers from around

Australia and the

globe”

“Brisbane

City Council and

Queensland Government

have continued to reinforce

their commitment to tourism,

taking an active role in

the facilitation of new

world-class tourism

infrastructure”


World-class precincts

Brisbane is home to a number of established and emerging retail, entertainment and dining precincts which drive significant visitation from intrastate, interstate and international visitors, such as:

• South Bank

• Queen Street Mall

• Barracks and Caxton Street at Petrie Terrace

• Gasworks in Newstead

• Boundary Street in West End

• James Street in Fortitude Valley

• Brunswick Street Mall and China Town Mall in Fortitude Valley

• Emporium in Fortitude Valley

• Logan Road and Stanley Street in Woolloongabba

• Portside in Hamilton.

These core precincts have continued to evolve and establish themselves as leading destinations, with the future evolution of the CBD largely driven by a clear and strategic vision as outlined by Brisbane City Council in the new Brisbane City Centre Master Plan.

In addition, the Brisbane City Council and Queensland Government have continued to reinforce their commitment to tourism, taking an active role in the facilitation of new world-class tourism infrastructure on state and local-owned land. In particular, the Brisbane City Council and Queensland Government identified and released land to the private development industry, with major projects mooted at Queen’s Wharf Brisbane and Howard Smith Wharves that will redefine and enhance the CBD offering.

Further development of tourism infrastructure continues to be underpinned by the Queensland Government’s focused and proactive approach, with tourism being identified as a key pillar of the Queensland economy. In addition, the Queensland Government has committed to doubling visitor expenditure to $30 billion under the national Tourism 2020 plan.

Blueprint for precinct evolution

The new Brisbane City Centre Master Plan was developed in 2013 by Brisbane City Council to ensure the city has a clear vision and strategy on which to capitalise, and the ability to seize investment and development opportunities. The master plan delivers a coordinated framework for future precinct development, and sets out five key strategies to guide future development, transport and public space investments. The key strategies underpinning the master plan include:

1. Economic development – Brisbane is open to investment and geared for prosperity.

2. Public realm – in Brisbane we enjoy the open air.

3. Built form – in our city every building is beautiful.

4. Social and cultural – discover our urban playground.

5. Transport – our city centre is a special place where people move freely.


To kick-start the transformation of the city centre, Brisbane City Council announced a number of priority projects, to be delivered by 2018, which will revitalise the city. These projects include Howard Smith Wharves and Queen’s Wharf Brisbane, as well as:

• Edward St – Edward St is establishing itself as Brisbane’s home for international luxury brands. Brisbane City Council is committed to supporting this investment by transforming it into a world-class retail environment with broad footpaths, tree-lined street and beautiful buildings.

• Albert St – Albert St will become Brisbane’s green spine, embodying Brisbane’s subtropical climate and outdoor lifestyle. This street will serve as a leafy boulevard connecting the City Botanic Gardens, King George Square and Roma Street Parkland.

• CityGlider network – A bus network will be developed to connect Brisbane’s growing inner-city neighbourhoods, major employment hubs and cultural destinations to allow workers, residents and tourists to move quickly, frequently and conveniently across the city.

South Bank

South Bank is the cultural and entertainment heart of Brisbane. Spread across 42ha, South Bank offers leisure, culture, dining and recreation space for the enjoyment of locals and visitors alike. Located just a few minutes from Brisbane’s CBD, South Bank is divided into four main precincts: Grey Street;

Little Stanley Street; the Parklands; and River Quay. With over 1500m of uninterrupted Brisbane River frontage, South Bank attracts more than 10 million visitors each year and is where the city celebrates key events such as New Year’s Eve, Australia Day, Brisbane Festival and Regional Flavours.

With more than 14,000m2 of retail and commercial space, South Bank offers unique and world-class dining and retail experiences.

Queen Street Mall

Regarded as the most successful pedestrian mall in Australia, the Queen Street Mall is a 500m pedestrian-only street in the centre of the Brisbane CBD. The mall houses approximately 700 retailers, including six major retail centres and over 142,000m2 of retail area6, drawing 26 million visitors each year and driving a total annual turnover of approximately $930 million.

The Queen Street Mall attracts shoppers and tourists and acts as the retail heart of the city, with free music and theatre performed year-round. Its success is evident with vacancy rates of only 2.4 per cent7, with the mall recently being ranked number seven in the top 10 highest retail rents in the Asia Pacific region8.

Queen’s Wharf Brisbane

In 2013, the Queensland Government announced the issue of a new casino licence for Brisbane, and the once-ina-generation opportunity to redevelop a unique precinct, known as Queen’s Wharf Brisbane, in the heart of Brisbane’s CBD.

6 Retail is defined by the Australian Bureau of Statistics. The definition excludes the following tenancy types: Amusements/Entertainment, Appliance Rental, Auto Accessories, Banks and Building Societies, Cinemas, Equipment Hire, Financial and Property Services, Gyms, Garden Supplies, Lottery & Gaming, Marine Equipment, Medical and Dental Services, Offices, Post Office and Travel Agency. For the purpose of this report vacant tenancy areas have been included. 7 Colliers International, Retail Research and Forecast report, Second Half 2013 8 Colliers International, Global Retail Highlights 2013


Queen’s Wharf Brisbane is a prime CBD precinct with more than 9ha of land and 700m of Brisbane River frontage. The opportunity exists for this brownfield precinct to be redeveloped to deliver an integrated resort that includes a casino, six-star hotel, retail, food and beverage, and entertainment and convention facilities.

Subject to negotiations with the winning bidder, the new precinct is scheduled to begin construction in 2017 with stage one anticipated to be completed by 2020, providing the city with a new and unique entertainment precinct that will continue to drive greater leisure and corporate visitation from both the domestic and international markets.

Howard Smith Wharves

In 2013, Brisbane City Council released a Request for Proposals (RFP) seeking bids from the private sector to redevelop prime riverfront land between Brisbane’s CBD and New Farm known as Howard Smith Wharves (pictured below). As part of the RFP process, Brisbane City Council encouraged proposals that sought to reactivate and renew the under-utilised 3.43ha site and deliver high-quality public space back to the city, including world-class retail, food and beverage, and

Subject to negotiations with the winning bidder, Howard Smith Wharves will provide Brisbane with an additional dining and recreational precinct for both locals and visitors to enjoy.

Kurilpa Riverfront

Brisbane City Council and the Queensland Government are working together on the renewal of the Kurilpa Riverfront precinct to facilitate the redevelopment of prime riverfront industrial land in South Brisbane. This unique precinct comprises approximately 1km of river frontage and more than 25ha of land, and will be the largest renewal opportunity in Brisbane since the Teneriffe waterfront revitalisation in the mid to late 1990s.

The master plan, scheduled to be finalised and endorsed in mid-2014, is set to provide a clear vision that delivers greater developer certainty. The planning process is currently exploring the potential for a mix of high-quality commercial, retail and residential development, along with significant new public spaces and enhanced streets. It has the potential to deliver an additional recreational, dining and retail precinct for the enjoyment of locals and visitors alike.

recreational offerings.


Source: Tourism Research Australia

Strong demand

The tourism industry in the Brisbane

City Council area contributes more

than $3.3 billion to the Gross Regional

Product, employing 21,100 people

in Brisbane. The hotel sector is

the industry’s highest contributing

employer, employing 9400 people.

With a robust Queensland economy attracting more and more business and international visitors to the capital, Brisbane continues to evolve as a destination of choice for travellers. With growing demand, full-service branded hotels will play a vital role in defining Brisbane as a truly world-class destination, providing much-needed amenity, service and character to the city.

Purpose of visit

In 2013, business travellers continued to be the most dominant demand-driver for hotels, accounting for 45.5 per cent of the hotel visitor market. Despite demand from business travellers flattening compared to the peak of 2008 (at 50.9 per cent), business travellers continued their pilgrimage, driven by buoyant economic conditions and improving business sentiment.

The city also enjoyed strong growth from holiday and leisure travellers who in the immediate wake of the global financial crisis had tightened their discretionary spend and stayed away. For the first time, holiday and leisure travellers have returned to the city in record numbers as confidence rebounds, with Brisbane welcoming more than 650,000 tourists in the year ending September 2013 – an increase of 16.8 per cent over the previous 12 months and the highest number ever accommodated.

Visitor origin

Brisbane welcomed more than 750,000 international visitors in 2013, 6.9 per cent more than the previous 12 months. China continued to be Brisbane’s strongest international inbound segment for the second year running, accounting for approximately 130,000 international visitors or 17.3 per cent of total international visitation. Brisbane has continued to attract and appeal to Chinese visitors, with visitation increasing by 20.2 per cent since 2012, a far cry from only five years ago when just 50,200 Chinese nationals visited Brisbane.





More than 53 per cent of all international visitors in 2013 came from affluent and rising markets including the United Kingdom, New Zealand, the US, China and Germany. This demonstrates the need for Brisbane to continue to deliver superior infrastructure and service to ensure repeat and new visitation.

Visitor expenditure

Visitors to Brisbane spent more than $6.1 billion in 2013; an increase of 3.4 per cent over the past 12 months. Domestic overnight visitors are the largest contributor spending $3.2 billion (52.7 per cent), followed by international visitors who spent more than $1.5 billion (25.1 per cent).

The growth in demand for hotel nights by business and international travellers is helping boost expenditure, both in hotels and the broader economy. Overnight visitors unlock significantly higher spend than day trippers, spending 16 times more, often in the hotels in which they stay. Domestic overnight visitors spend six times more than day trippers, again demonstrating the economic value driven by overnight stays.



Aver

age

Leng

th o

f Sta

y (N

o. o

f Nig

hts)

Visitor nights

With 4.3 million visitor nights in hotels in 2013, international visitor numbers continued to grow for the third consecutive year, with the proportion increasing to 33.2 per cent of total visitor nights to over 1.4 million.

Domestic overnight visitors remain the largest segment, comprising 66.8 per cent of total visitor nights. However, domestic visitors declined for the second consecutive year to 2.8 million visitor nights. This decline has been largely attributed to Australians continuing to exercise restraint around discretionary spend, as well as being lured overseas by cheaper offerings underpinned by a strong Australian dollar. With the fall of the Australian dollar and strengthening business conditions, it is expected confidence will return to the domestic overnight visitor.

International overnight visitors continue to be a focus for hoteliers in the city, not only because they spend twice that of domestic overnight visitors, but also because they stay longer. On average, the length of stay in hotels by international visitors is 3.9 nights, up from 3.0 nights in 2000.

“China continued to

be Brisbane’s strongest

international inbound

segment for the second

year running”


Source: STR Global

Source: STR Global


Robust trading conditions

The Brisbane City hotel market,

which includes serviced apartments,

has experienced strong growth since

the global financial crisis, with steady

and consistent increases in room rates

and occupancy.

In 2013, the city witnessed weaker trading conditions, but historically speaking maintained a relatively modest occupancy rate of 77.4 per cent. The weaker trading conditions have largely been attributed to a decline in domestic overnight visitors, with interstate leisure visitors exercising constraint with discretionary spend or choosing to travel abroad where they saw greater value for money with a stronger Australian dollar. Business and corporate travellers, on the other hand, remained largely cautious as they awaited the outcome of the September 2013 Federal Election.

Early signs already demonstrate business and consumer confidence is returning, with strong indicators recorded recently. Both retail spending and building approvals posted solid gains over the latter half of 2013, suggesting a more buoyant consumer outlook for 2014. A recent business confidence survey by Dun & Bradstreet found a vast majority (68 per cent) of Australian businesses expecting improved growth in 2014 compared with 2013.

From a national hotel trading perspective, Brisbane performed above the Australian average to be the fourth-best performing hotel market in Australia. Deloitte Access Economics forecast moderate growth, with room rates forecast to grow by 4.1 per cent per annum to December 2015, and RevPAR expected to grow by 4.0 per cent per annum.

“From a national

hotel trading

perspective, Brisbane

performed above the

Australian average to be the

fourth-best performing

hotel market in

Australia”

Hotel Trading Performance, Brisbane City Core

Source: Australian Bureau of Statistics



Trading by sub-market

The Brisbane City hotel market is predominately made up of five main sub-markets: the CBD, Fortitude Valley, Kangaroo Point, South Brisbane and Spring Hill.

The CBD is the most prominent of the sub-markets, accounting for 61.7 per cent of the total room supply. While the CBD area generates the greatest average room rates at $206, South Brisbane competes well with the CBD, achieving occupancy of 81.2 per cent and average room rates of $205. Hoteliers in South Brisbane, who enjoy close proximity to the state’s leading entertainment and cultural precinct, enjoyed average annual RevPAR growth of 5.0 per cent in the past six years since 2007.

Since 2007, Fortitude Valley witnessed the greatest growth in new supply with an increase of 47.1 per cent, or 146 new rooms into the market. Despite this, the market has effectively absorbed the new supply, recording average annual growth in room rates of 6.7 per cent to $183 for the year ending June 2013.

Trading by star category

Brisbane’s five-star hotels have continued to enjoy strong rate premiums over four and three-star rated assets. As at the year ending June 2013, five-star hotels achieved an ADR and RevPAR of $263 and $206 respectively, with room rates and revenue 39 and 43 per cent higher compared with four-star hotels.

In the past six years to 2013, five-star hotels also enjoyed the greatest increase in ADR and RevPAR, with average annual growth of 4.0 per cent for ADR from $214 and 3.3 per cent for RevPAR from $175.

Source: Australian Bureau of Statistics and AECGroup



Room to grow

As at June 2013, there were 9281 hotel

rooms in the Brisbane City Core market,

which includes hotels, motels and serviced

apartments.

Room supply increased by an average annual rate of 3.3 per cent since 2006. The greatest growth in supply was injected between 2006 and 2008, with more than 1500 rooms entering the market – making up 82 per cent of total new supply since 2006.

However, since 2010, hotel developments have failed to keep pace despite demand continuing to grow. Since 2010, Brisbane has had only minor additions to room supply, with just 330 rooms added – representing 0.9 per cent growth per annum. This is not withstanding a 4.9 per cent increase in demand (expressed in total visitor nights), an 8.9 per cent increase in ADR, and a 6.3 per cent increase in RevPAR since 2010.

Hotels versus serviced apartments

Brisbane has seen a widening gap between full-service branded hotels and serviced apartments. The proportion of serviced apartments has grown rapidly since 2006. Seventy-six per cent of the total room supply growth experienced in Brisbane has come from residential apartment buildings transitioning into the short-term accommodation market. Despite hotels dominating total room supply in Brisbane, serviced apartments operating in the short-term accommodation market grew from 27.5 per cent to 37.5 per cent since 2006.

Since 2006, serviced apartments experienced growth in supply of 71.2 per cent (or 2052 rooms) compared to just 8.7 per cent (or 659 rooms) for hotels. The unprecedented growth in serviced apartments has been at the expense of traditional hotels, with only 1.7 hotel rooms to every serviced apartment operating in the market in 2013, compared with 2.6 hotel rooms for every serviced apartment in 2006.

“Since 2010,

Brisbane has had

only minor additions

to room supply, with

just 330 rooms

added”

Room Supply by Star Class

Brisbane Tourism Region, YE June

Room Supply (No.)

3 Stars 4 Stars 5 Stars

2006 3626 4932 1907

2007 3684 5293 1903

2008 4041 6342 1686

2009 4048 6841 1695

2010 4069 6865 1836

2011 3807 7343 1337

2012 3803 7588 1337

2013 3735 7681 1339

Growth 2006-2013 (No.) 109 2749 -568

Growth 2006-2013 (%) 3.0% 55.7% -29.8%


2.3% 3.3% 4.4% 2.2%



Supply by star category

Five-star hotels operating in the market shed 568 rooms since 2006, a drop of 29.8 per cent. Three-star hotel supply on the other hand saw an increase of 3.0 per cent in room stock, and four-star hotel supply increased by 55.7 per cent in the same period.

Conversely, when compared to other capital cities including Sydney, Melbourne, and Perth, Brisbane has a proportionally higher volume of four-star hotel products, attributed to the strong increase in serviced apartment product that mostly operates in the four-star rating category.

The Four Points by Sheraton hotel, which opened its doors in March 2014, is the only new purpose-built, full-service branded hotel to have entered the market in Brisbane’s CBD since 1998, leaving a significant gap in product type and quality to service the growing demand.

New hotel supply

Despite years of no new supply, Brisbane will finally enjoy new quality hotel stock as it enters the market in 2014, with international operators such as Starwood, Wyndham and SilverNeedle establishing a presence. The new supply is anticipated to improve the quality of rooms on offer, with refurbishments of existing supply likely to occur as a result.

Brisbane Hotel Development Pipeline

Property Location Hotel

Rooms Opening Date* Operator

Four Points by

Sheraton

103 Mary St,

Brisbane 246 March, 2014

Starwood Hotels

& Resorts

Alpha Mosaic

Brisbane

826-844 Ann St,

Fortitude Valley 51 Q2, 2014

Alpha Hotels &

Resorts

TRYP Hotel 20 Constance St,

Fortitude Valley 65 Q2, 2014

Wyndham Hotel

Group

Gambaro Hotel 29-39 Caxton St,

Petrie Terrace 63 Q2, 2014

The Gambaro

Group

NEXT Hotels &

Resorts

66 Queen St,

Brisbane 150 Q3, 2014

SilverNeedle

Hospitality

Source: Brisbane Marketing *Estimate

Future sustainable supply

Brisbane’s reputation as Australia’s new world city is underpinned by strong investment from both local and state governments who are committed to growing demand from leisure, business and events, and international markets.

As Brisbane continues to transform into a leading cultural and economic hub, coupled with growth from Chinese and leisure visitors alike, the city is forecast to generate strong demand for world-class hotels into the future.

With an estimated 278,000 room nights being deferred annually, the city is potentially forgoing more than 121,000 international and domestic visitors who on average stay 2.3 nights in the city. As a result, it is projected the city is deferring nearly $140 million in visitor expenditure, or $1150 per visitor.

This deferred economic benefit is largely attributed to insufficient supply of internationally branded hotels, which in turn is hampering Brisbane’s ability to attract major events and conferences. This lost visitor expenditure equates to approximately 1100 jobs and $144 million in economic activity that would otherwise exist.

More branded hotel rooms are therefore required to meet this demand, and to enable the city to procure new world-class major business events. Leading economic consultants AECGroup estimate Brisbane can sustainably absorb between 216 to 330 rooms annually to 2022, allowing the city to increase its capacity and capture more leisure and international visitors arising from markets such as China.

Future Room Supply

Brisbane City Core

2013-2022

Scenario

Base Demand*

Average Annual Increase

in Rooms

216

Target Demand** 330

Source: AECGroup

* The Base Demand scenario relates to the level of demand that would be expected in the future based on current and future anticipated economic activity. ** The Target Demand scenario represents a conceivable and achievable stretch target based on effective marketing, events and other demand drivers to increase level of demand into the future.

“Brisbane

can sustainably

absorb between

216 to 330 rooms

annually to 2022”


Pro-business government

The Brisbane City Council and

Queensland Government are

determined to work together to

attract more domestic and international

visitors to the city. Both local and

state governments recognise the

importance of hotel infrastructure and

the inherent value hotel developers,

operators and investors add to building

and defining the landscape of Brisbane’s

tourism offering.

Combined, the Brisbane City Council and Queensland Government are committed to attracting investment to develop sustainable, full-service branded hotel supply that underpins Brisbane as a world-class destination. Queensland’s pro-business economic environment and forecast growth offers investors a safe, long-term investment climate within a stable and resilient economy.

The Queensland Government continues to implement tighter economic and fiscal disciplines, including changes to payroll tax, reduction in bureaucratic red tape, and abolition of the waste levy. This has created a pro-business environment that has witnessed the return of strong business confidence levels not seen since prior to the global financial crisis. Equally, Brisbane City Council has continued to adopt a pro-development stance, aiming to provide investors with the greatest level of confidence to progress with investments and developments.

By investing in Brisbane, you will benefit from:

Largest local government

The City of Brisbane is governed by the Brisbane City Council, the largest local government in Australia. Unlike other local governments across the country (such as Sydney, Melbourne and Perth), which are generally responsible only for

the CBD areas of those cities, Brisbane City Council administers a:

• Budget of $3.11 billion

• Population of over one million

• Metropolitan area of over 1300km2 Investors to Brisbane will benefit from:

• Dealing with one single local government regulatory authority

• Consistent planning regulations and infrastructure charges

• Clear vision and strategy to guide future development and investment

• A coordinated infrastructure delivery agenda

• Major centres, beyond the CBD, which are part of the same local government.

Attracting Aviation Investment Fund

Improving aviation access is a key priority for Queensland, in particular new airline routes within growth markets such as Asia. To boost the Queensland tourism industry and attract more international visitors, the Queensland Government established the Attracting Aviation Investment Fund with $8 million of committed funding.

The Attracting Aviation Investment Fund has already resulted in new international flights being secured for Queensland including:

• China Eastern commencing a direct seasonal service between Shanghai and Cairns

• Air New Zealand operating a twice-weekly Auckland to Sunshine Coast service

• AirAsia increasing its Kuala Lumpur-Gold Coast route to daily flights


• Emirates Airline upgrading to a daily A380 service into Brisbane.

In addition, confidence in the Brisbane market is demonstrated by increased airline capacity:

• Garuda Indonesia’s daily flights from Denpasar to Brisbane

• Etihad Airways’ increasing services between Abu Dhabi and Brisbane to daily

• Hawaiian Airlines’ new Brisbane to Honolulu service with flights steadily increasing throughout 2013

• China Southern Airlines’ daily service between Guangzhou and Brisbane

• Qantas increasing to daily services between Brisbane and Hong Kong

• Malaysia Airlines’ increasing frequency between Kuala Lumpur and Brisbane to five services per week

• Philippines Airlines resuming services to Brisbane, operating a three-times-weekly service from Manila

• Virgin Australia commencing services on the Brisbane-Bundaberg route

• Tiger Airways opening a Low-Cost Carrier base at Brisbane Airport with extra services to Sydney and Melbourne and new flights to Adelaide, Darwin and Cairns

• Jetstar Airways commencing non-stop flights from Brisbane to Denpasar.

Tourism 2020

In recognition of the importance of tourism to the Australian economy, in 2009 the Australian Government set a challenge and goal for the tourism industry and state governments to double overnight visitor expenditure by 2020. In support of this national agenda, the Queensland Government has committed to doubling overnight visitor expenditure from $15 billion to $30 billion by 2020. To achieve this target, the Queensland Government continues to support the development of branded hotels which

contribute to the city’s growth as a destination and attract more international tourists.

Moratorium on council infrastructure charges

To incentivise and focus on securing new hotel supply to Brisbane, Brisbane City Council announced a moratorium on council infrastructure charges for new four and five-star hotel developments approved before 30 June 2014; with building work to begin within two years of approval.

Council normally levies infrastructure charges to help pay for drainage, transport and park infrastructure as part of the development assessment process. Council recognises and supports the integral value new hotel supply will contribute to Brisbane’s economic growth.

Competitive business costs in Queensland

Businesses in Queensland enjoy competitive running costs, offering a strong destination choice for operating and investing in a hotel, with benefits including:

• Low business taxes (including the lowest rate of payroll tax in Australia)

• Competitive labour costs

• Competitive utility costs

• Low workers compensation premiums.

Lowest payroll tax

At just 4.75 per cent, Queensland companies pay the lowest rate of payroll tax in Australia, having been assessed as being 20 per cent below the national average. Payroll tax is not required to be paid until the total annual wages and salaries of a company exceed $1.1 million. In addition, the Queensland Government has committed to raising this threshold by $100,000 each financial year for the next five years.


Department of Tourism, Major Events, Small Business and the Commonwealth Games

Thinking of investing?

In partnership, the Brisbane City Council

and Queensland Government will actively

facilitate new investment to realise the

sustainable development of full-service

branded hotel supply in Brisbane.

This will involve:

• Streamlined approvals at both state and local government level

• Case managers from both state government and Brisbane Marketing to assist investors, developers and operators to navigate the approvals process

• Use of supporting legislative powers to help expedite developments

• Providing critical information and introductions for those considering new hotel development

• Incentives including moratorium on council infrastructure charges and potential release of government-owned land

• Continuing to attract new events to build visitation on weekends, helping fill the shoulder period for hotels.

Further opportunities for the private sector may become available as the state government looks to optimise its land holdings. The state government will continue to undertake property transactions in an open and accountable manner, pursuing public competition processes that obtain full commercial returns. In exceptional circumstances, the government will consider off-market transactions where it can be demonstrated it is practically necessary and commercially advantageous to the state.

Who to talk to

Brisbane Marketing

Brisbane Marketing, the city’s economic development board, is leading activities to attract hotel investment that defines Brisbane as a world-class destination. Brisbane Marketing offers critical introductions, market knowledge and assistance with business case development. Investors, developers and operators are encouraged to contact:

Oriana Wyrozebska Manager, Investment Attraction (Hotels) E: [email protected] P: +61 7 3006 6289

The Department of Tourism, Major Events, Small Business and the Commonwealth Games has established a Tourism Investment Attraction unit to attract new investment into the visitor economy. The unit provides a one-stop-shop for hotel development proposals for the Queensland Government. Investors, developers and operators are encouraged to contact:

Dominic Ward Director, Product Development and Partnerships (Tourism) E: [email protected] P: +61 7 3333 5273

Department of State Development, Infrastructure and Planning

The Department of State Development, Infrastructure and Planning provides timely assistance and delivery of infrastructure, land and other property to industry and the community. It focuses on significant, complex and high-profile projects to maximise state development benefits, manages property and infrastructure assets and provides assistance to industry with project facilitation, red and green tape reduction and planning support. Visit www.dsdip.qld.gov.au


www.dsdip.qld.gov.au

Testimonials

“SilverNeedle was attracted to Brisbane by the ease with which you can interact with government authorities through Brisbane Marketing and Brisbane City Council. We believe that Brisbane is making all of the right moves – take for example the G20 meeting that is coming in 2014 – now that’s a huge win for Brisbane as far as I am concerned.”

Iqbal Jumabhoy

Managing Director and Group CEO, SilverNeedle Hospitality

“The Queensland Government and Brisbane City Council have been immensely helpful and collaborative every step of the way and we are very grateful for it. Amongst other factors, this unwavering support throughout the development planning process has further reinforced our view that Brisbane is a great place for us to invest in, and develop our first hotel residence property.”

Choe Peng Sum

CEO, Frasers Hospitality


Appendix

Glossary

ADR Average Daily Rate

AFL Australian Football League

CBD Central Business District

FY Financial Year

G20 The group of 20 major economies comprising Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and United States

LGA Local Government Area

LNG Liquefied Natural Gas

MICE Meetings, incentives, conference and exhibition

NRL National Rugby League

QUT Queensland University of Technology

RevPAR Revenue per available room

RNS Room Nights Sold

The Gabba Brisbane Cricket Ground, Woolloongabba

YE Year Ending

Notes

Australian dollars All monetary amounts have been quoted in Australian dollars.

Brisbane City Core The Brisbane City Core statistical area includes the Brisbane Central Business District and inner-city suburbs including Bowen Hills, Dutton Park, East Brisbane, Fortitude Valley, Herston, Highgate Hill, Kangaroo Point, Kelvin Grove, Milton, New Farm, Newstead, Paddington, Red Hill, South Brisbane, Spring Hill, West End and Woolloongabba.

Brisbane Local Government Area Brisbane Local Government Area (LGA) is the Brisbane City Council administration boundary for local service provision.

Brisbane Tourism Region The Brisbane Tourism Region statistical area includes the South East Queensland region including Brisbane, Caboolture, Kilcoy, Gatton, Ipswich and Logan. It excludes the Gold Coast and Sunshine Coast regions.

Greater Brisbane Region Great Capital City Statistical Area made up of Brisbane, Ipswich, Logan-Beaudesert and Moreton Bay as defined by the Australian Bureau of Statistics.


Notes

Disclaimer Except for any liability that cannot be excluded by law, the Department of Tourism, Major Events, Small Business and the Commonwealth Games (DTESB) Queensland, and Brisbane Marketing Pty Ltd, disclaims and shall not accept, nor bear, any liability whatsoever, for any reliance on the contents and suitability of this Guide, either in hardcopy or as presented online, for any purpose (including without limitation special, indirect or consequential damages and damages resulting from loss of use, data or profits, whether in an action of contract, negligence or tort, arising out of, or in connection with, the use, inability to use or performance of the Guide). The user accepts sole responsibility and risk associated with the use and results of this Guide.

© 2014 State of Queensland and Brisbane Marketing Pty Ltd ABN 86 094 633 262


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King

sfor

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ith D

r

King

sfor

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r

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by R

d

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Uppe

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cast

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ter R

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ter R

d

Cher

ms id

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Mei

n St

Sand

gate

Rd

Sand

gate

Rd

Frodsham St

Lapraik StChristian St

Rverton St

Hudson Rd

Sandgate Rd

Burrows St

Bonney Av

Nudgee Rd

Remora Rd

Racecourse Rd

RiverviewTce

Charlton St

Vine St

Lonsdale St

Rupert Tce

Kitchener Rd

Abbott St

Anthony St

Tow

ers

St

Kitchener Rd

Gordon St

Seft

on R

d

Benn

ison

St

Leve

r St

Elle

n St

Lucy

St

Reev

e St

Win

derm

ere

Rd

Beat

rice

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len

St

Nudgee Rd

Seymour Rd

Kent

St

Balo

wrie

St

Camden St

Albi

on O

verp

ass

Mc Lennan St

Hudson Rd

Sandg

ate Rd

Cooksley St

Toorak Rd

Crescent Rd

Royal Tce

Que

ens

Rd

Ann St

Long

land

St

Evel

yn S

t

Wat

erlo

o St

Stratton St

Kyabra St

Doggett St

Masters St

Wyand

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Vernon

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tpel

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ond

Folk

esto

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Flor

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Abbotsford Rd

ter S

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Broo

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t

Brookes St

Wan

Wickham St

Breakfast Creek Rd

Logan Rd

Hatwhorne RdHatwhorne Rd

Riding Rd

Riding Rd

Tem

ple

St

Fran

k St

Bennetts Rd

an Creek

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Isaac St

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Georg

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Stanley

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Georg

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Turbo

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Turbo

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Ann St

Bowen

St

Wha

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Cr ee

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A s t o

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Edwar

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Albert

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Park Rd

Railw

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Adelaide S

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Elizabeth

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Charlo tt

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Mary St

Margare

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Qu een

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E a g l e S t

Adelai

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Ann St

H a l e S t

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grav

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Kelvin Grove Rd

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a s t S

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Ann St

D o g g e t t S t

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Kent St

Te rrace St

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Arthur S

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Heal St

Annie St

Barker St

Browne St

Vi lliers S

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Grey St

Grey St

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B a l a

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Department of Tourism, Major Events, Small Business and the Commonwealth Games

Level 20, 111 George St, Brisbane, Qld 4001

PO Box 15168, City East, Qld 4002

T + 61 7 3333 5284

E [email protected]

W business.qld.gov.au/tourism-investment

Brisbane Marketing

Level 8, Roy Harvey House, 157 Ann St, Brisbane City, Qld 4000

PO Box 12260, George St, Brisbane City, Qld 4003

T +61 7 3006 6200 F: +61 7 3006 6250

E [email protected]

W investbrisbane.com.au/hotels

a guide to hotel investment in brisbane, australia 2014

Documents

brisbane hotels

new hotel supply

brisbane city council

queensland economy

development of new hotels

queensland government

business events

strong demand