The state reports a 2.55% increase to approximately $179,215,065 million in February. Overall, Hotels took the lead with an increase of +3.51% on last year and Clubs up by 1.34%. ADR is currently sitting at $188 for Hotels ($178 in January) and $123 for Clubs ($119 in January).
Of the major Local Government Areas (LGAs), the highest growth this month was in Townsville, Fraser Coast and Rockhampton. The two-year comparison shows Townsville, Moreton Bay and Mackay report double-digit growth as well as Cairns and Gladstone.
The Logan LGA maintains the highest ADR at $214. Townsville and Moreton Bay LGA’s follow on $213 and $176 respectively. Six out of the 15 LGA areas are above the reported Queensland ADR of $153.
The Westpac Melbourne Institute Consumer Sentiment Index in February recovered somewhat this month by 4.3% to 103.8, following an index of 99.6 in January. After a tough start to the year, all index components with the exception of ‘Time to buy a dwelling’, the Unemployment Expectations and House Price Expectations indexes shoed increases on last month’s results.
All of the indexes and their movements are highlighted below:
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