Appendix A - Economic Impact Assessment.pdf

                                           Noosa Springs Luxury Hotel Economic Impact Assessment
                                                                                     Final Report

Definitions

ADR – Average daily rate, which is a measure of the average rate paid for rooms sold, calculated by
     dividing room revenue by rooms sold
B&B – Refers to a type of short-stay accommodation that is usually typified by very small number of
     rooms (generally 3-5) and is the result of a redeveloped house. This type of accommodation
     usually includes cooked meals served at specific times.
Hotel – Refers to a type of short-stay accommodation that does not have any in-room appliances
      beyond a mini bar and coffee making facilities.
Noosa – Unless otherwise stated, Noosa refers to the local government boundaries of the Noosa
     Shire.
Occupancy Rate – Occupancy rate is the percentage of available rooms that were sold during a
     specified period of time. Occupancy is calculated by dividing the number of rooms sold by
     rooms available.
RevPAR – Revenue per available room, which is the total guest room revenue divided by the total
     number of available rooms. RevPAR differs from average daily rate (ADR) because RevPAR is
     affected by the amount of unoccupied available rooms, while ADR shows only the average
     rate of rooms actually sold.
Serviced Apartment – Refers to a type of short-stay accommodation that would include some in-
      room appliances and equipment such as a refrigerator, sink and cooking apparatus. This type
      of accommodation would also include residential units offered as short-stay accommodation
      that include full kitchen and laundry areas.
Short-stay Accommodation – Refers to accommodation that is provided for the expressed purpose
      of a short-stay visitor and would include a range of options including hotel, serviced
      apartment and B&Bs. Caravan parks, campgrounds, youth hostels and backpackers have been
      excluded from this assessment.




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