From McMansion to mini mansion: the evolution of the luxury residential market
Australia boasts some of the most liveable cities in the world, with beautiful landscapes, clean air and a laid back lifestyle. Despite this, recently some mainstream residential markets have cooled, according to the 2017 Knight Frank Wealth Report which shows that a lack of supply pushed the Sydney prime market prices to 10.7%, ahead of Melbourne’s 9.8%.
The room boom: exploring the health of the hotel industry
The latest statistics show the hotel industry in Australia is in good health, with Revenue per available room (RevPAR) increasing on last year. This measurement compares a hotel’s average daily room rate with its occupancy rate, providing an accurate picture of performance, including the effectiveness of management strategy. The good news is that the most recent Deloitte Access Economic data shows the national RevPAR increased by 2.4% in 2017, with a projected growth of 3.1% by 2019. But what can we learn about the current industry from digging deeper into the data?
Deciphering design: what’s next for hospitality?
The recent Design Inn Symposium was a chance for Australasia’s hotel and hospitality design community to discuss the latest trends and shape future directions collaboratively. With top designers, architects, consultants, hotel owners and asset managers in attendance, the event generated interesting discussions for the Gallagher Jeffs team – below we share our key takeaways.
Learning through the Built Environment
Australian education is a dynamic and growing service market – currently ranked the third largest provider of education to international students in the world, behind the US and UK. Renowned for world-class resources, facilities and teachers, it’s no surprise 253,757 new students arrived in Australia last year to study, with the country’s learning facilities continuously advancing.
Tourism Growth: Who are we building for?
Australia’s Tourism & Hospitality industry has seen incredible growth over the last year, thanks to our country’s world-class cities, un-spoilt coastlines and spectacular outback. Since June last year, IBIS World reports we have welcomed 8.5 million international visitors, which have brought $40.8 billion into the local economy.