Appendix A - Economic Impact Assessment.pdf

                                                               Noosa Springs Luxury Hotel Economic Impact Assessment
                                                                                                         Final Report

In order to identify a shortage or surplus of rooms, a market occupancy of 65% has been assumed,
which represents a healthy level of occupancy that would allow a property to trade profitably. The
analysis shows the existing shortage of hotel rooms in the Noosa market prior to the COVID-19 crisis.
As demand returns to the market in 2021, a shortage of 143 rooms reappears. By 2023, when the
Noosa Luxury Hotel is to be delivered into the market, it is anticipated to have a shortage of 683
rooms.
Figure 4.7. Future Supply and Demand Balance, Noosa

                     1,400,000                                                              5,000

                     1,200,000                                                              4,000
Room Nights Sold (No.)




                     1,000,000                                                              3,000




                                                                                                     Rooms (No.)
                         800,000                                                            2,000

                         600,000                                                            1,000

                         400,000                                                            0

                         200,000                                                            -1,000

                              0                                                             -2,000
                                   2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
                                       Shortage/Surplus        Rooms           Room Nights Sold
Note: Year ending June. Market at 65% occupancy.
Source: Dransfield (2020); Lucid Economics




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