Appendix A - Economic Impact Assessment.pdf

                                                                                                             Noosa Springs Luxury Hotel Economic Impact Assessment
                                                                                                                                                       Final Report

Table 4.2 Noosa Accommodation Supply Overview, by Type
                                                            Total (No.) Total (%)
 Property Type
 Hotel                                                                           2                         1%
 Serviced Apartment                                                            142                        90%
 B&B                                                                            14                         9%
 Room Type
 Hotel                                                                      186                            5%
 Serviced Apartment                                                       3,589                           94%
 B&B                                                                         46                            1%
Source: Lucid Economics
Table 4.3 Noosa Accommodation Supply Overview, by Star Rating
 Star Quality Total (No.) Total (%)
 5                   187        5%
 4.5                 604      16%
 4                   977      26%
 3.5               1,265      33%
 3                   788      21%
 Total             3,821     100%
Source: Lucid Economics

Figure 4.1. Monthly Airbnb Listings, Noosa
                         1,800
                         1,600
                         1,400
 Active Listings (No.)




                         1,200
                         1,000
                          800
                          600
                          400
                          200
                            0
                                                                                                                            Jun-19




                                                                                                                                                                                           Aug-20
                                                                               Aug-18




                                                                                                                                     Aug-19
                                                                      Jun-18




                                                                                                                                                                                  Jun-20
                                                            Apr-18




                                                                                                                   Apr-19




                                                                                                                                                                         Apr-20
                                          Dec-17
                                                   Feb-18




                                                                                                 Dec-18
                                                                                                          Feb-19




                                                                                                                                                       Dec-19
                                                                                                                                                                Feb-20
                                 Oct-17




                                                                                        Oct-18




                                                                                                                                              Oct-19




                                                                     Entire House                                               Private Room
Source: AirDNA (2020)



 Existing Accommodation Stock in Noosa Does Not Align to Tourism Goals
 As highlighted in Section 3, two of the goals for the Tourism Strategy Noosa 2017-22 are ‘value
 over volume’ and ‘New and improved world-class visitor experiences, events and
 accommodation’. However, the current accommodation market is focused around older, 3-3.5
 star quality properties that do not represent a ‘world-class accommodation’.
 There current market suffers from a lack of true luxury (5 star) properties and a lack of full-
 service hotel product.




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