Queensland’s construction sector could see a flurry of activity over the coming years as demand grows for luxury hotels in Brisbane.
Brisbane boasts one of the country’s highest hotel occupancy rates at 85.2 per cent, and experts say strong consumer demand could result in future developments.
Tourist & Transport Forum acting chief executive Trent Zimmerman said the Queensland capital is well positioned to take on two to three new 150-room hotel complexes annually for the next nine years.
“The demand forecast suggests that the Brisbane hotel market can sustainably absorb between 300 to 450 new rooms each year until 2022 and maintain occupancy of around 80 per cent, which is important for the ongoing viability of existing properties,” Mr Zimmerman told The Courier-Mail.
The latest announcement comes after Echo Entertainment announced it is hoping to build an “integrated” resort with 500 hotel rooms, gambling venues, restaurants, bars and retail outlets in Brisbane.
The $1.3 billion project, which may generate opportunities for apprenticeships in Queensland, could create up to 7,700 construction jobs, as well as 6,200 upon the resort’s completion.
Echo Entertainment chief executive John Redmond told News Limited that a five hectare site would be required for the development, with the Gold Coast also being considered.