Radical changes in the tourism industry during the past two years are prompting hoteliers and investors to look more closely at luxury and sustainability in 2023, according to Colliers. 

The Australian hotel market’s expansionary phase is set to peak in the next 12 months with the opening of 5949 rooms, Colliers’ research says, as investors revisit an industry hit hard during the pandemic.

There are 12,517 rooms currently under construction and scheduled to open during the next three years.