Booming domestic tourism behind investors spending up on accommodation opportunities

A pre-Christmas flurry of hotel purchases across Victoria and NSW is boosting the coffers of hospitality operators as listed groups and smaller operators seek a piece of the booming domestic tourism sector.

As the cost of international airfares shows no sign of declining, there’s been an increase in domestic tourism. Sydney CBD hotels, for example, have recorded occupancies of 79.8 per cent in November, which is the highest for any month on record except in September 2000, when Sydney hosted the Olympic Games.