Top 10 Hotel Owners & Operators

A survey of hotel owners and operators across ANZ regarding their FY23 and FY24 portfolios.

CBRE has surveyed around 40 of the major hotel owners and operators across ANZ regarding their FY23 and FY24 portfolios. Spanning almost 1,500 hotels and over 200,000 rooms, this accounts for just over half the total room supply in ANZ. 

CBRE could not have completed this report without the assistance of our valued clients and we therefore express our sincere gratitude to them all for providing us with the information to collate this extremely useful set of data.

Operators

Survey results indicate no major change in the top 10 hotel operators over the past year with Accor, IHG and EVT remaining the top three dominant operators managing 33% of total room supply across ANZ in FY24.

Consistent with the longer-term trend, we are seeing continued uplift in the proportion hotel stock under the management and/or branding of the major operators. A combined expansion rate of 3% was achieved over the year by the top 10 operators in ANZ with just over 4,400 rooms across 28 hotels added to the pool of hotels under operation. 

This trend has been propelled by the level of new supply coming on-line over recent years combined with the proliferation of additional brands offered by the major operators.  As the new supply pipeline continues to contract under the weight of feasibility challenges due to elevated debt and construction costs, operators will inevitably turn their focus back to established assets for growth opportunities.  We expect those focused on demonstrating effective cost management strategies will grow their market share in what is a challenging operational expense environment against a backdrop of slowing RevPAR growth.

Owners

The composition of the top owners has seen minimal change over the past year with the top three owners remaining unchanged being Meriton, Salter Brothers and Schwartz Family Co, respectively. Together, they own 42% of rooms owned by the top 10 owners in ANZ.

Some well-established owners in the mid-ranks dropped down in the top 10 list as their competitors acquired and developed 18 hotels and 2,445 rooms over the year.  

Overall, and given the subdued level of transaction volumes over the course of 2024 thus far, we do not expect to see major changes emerging in the make-up of the top owners list over the short term.