Appendix A - Economic Impact Assessment.pdf

                                            Noosa Springs Luxury Hotel Economic Impact Assessment
                                                                                      Final Report

5.5 Additional Benefits
Beyond the economic impacts identified in Section 5.3, there will be numerous other economic
benefits delivered by the Noosa Springs Boutique Hotel development, including:
    •   Increase in luxury tourism product in Noosa: The Noosa Springs Boutique Hotel will
        increase luxury tourism product in Noosa (first new, purpose built luxury hotel since 1989),
        thereby increasing appeal to this market segment.

    •   Increase in luxury branding: The addition of a new, full-service luxury hotel will increase the
        image and branding of Noosa as a luxury destination.

    •   Increase capacity for business events and weddings: While the existing Noosa Springs Golf
        and Spa Resort accommodates business events and weddings, the addition of a full-service,
        luxury hotel on site will dramatically increase the property’s ability to attract this market.
        Events and weddings have been highlighted as key target groups by Tourism Noosa.
        Activating the Noosa market mid-week through business events will unlock new areas of
        demand and contribute towards Tourism Noosa’s goal of ‘value over volume’.

    •   Increase profile of destination: A new luxury hotel will help to increase the profile of the
        destination through marketing and news events. This project will represent the largest
        private sector investment in tourism in Noosa for a decade and as such it will raise the
        profile of the destination for investment.

    •   Increase in high spending visitors: The Noosa Springs Boutique Hotel will be a luxury, full
        service hotel, which will allow the hotel to bring in additional high yield visitors. As a
        tourism product, the project represents a significant increase in the capacity of Noosa to
        accommodate these high spending visitors. As highlighted in Section 3, increasing high
        yield/high spending visitors is a key strategic goal for Tourism Noosa and without luxury
        product, this goal will be difficult to achieve.

    •   Increase business confidence: The Noosa Springs Boutique Hotel represents an investment
        of approximately $50 million. With such a significant investment, the project will boost local
        business confidence and potentially act as a catalyst for further investment into tourism
        infrastructure and product in Noosa.




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