2022-11-14 GC Agenda - Item 4 - Attachment 2 - Appendix 13 to Attachment 1

NOOSA SHORT STAY ACCOMMODATION ECONOMIC & SOCIAL ASSESSMENT


AirDNA data for the years ending (YE) July 2021 and July 2022 highlight that room rates and revenue in the YE
July 2022 were considerably higher than the YE July 2021. Average daily rates (ADR) for short term rental dwellings
in Noosa were $430 per night in YE July 2021, increasing to just under $500 per night in YE July 2022 (Table 2.2).

Table 2.2. Annual Supply, Demand and Revenue for Short Term Rental Dwellings in Noosa, Year Ended
July 2020 to Year Ended July 2022
    Metric                             Aug 2019 - Jul 2020        Aug 2020 - Jul 2021         Aug 2021 - Jul 2022
    Supply (Nights Available)                645,111                     601,090                      617,704
    Demand (Nights Occupied)                 344,482                     332,199                      359,399
    Occupancy Rate (%)                        53.4%                       55.3%                        58.2%
    Revenue (AU$)                              n.a.                   $143,216,424                $177,819,493
    ADR (AU$)                                  n.a.                      $431.12                      $494.77
    RevPAR (AU$)                               n.a.                      $238.26                      $287.87
Notes: ADR = Average Daily Rate. RevPAR = Revenue Per Available Room. USD values were converted to AU$ values based on the average
exchange rate between August and July for the respective years.
Source: AirDNA data supplied by Noosa Shire Council.

Figure 2.7 presents a graph of monthly revenue and the average daily rate (ADR) for short term rental dwellings in
Noosa between June 2020 and September 2022 (data for earlier months was not provided) and shows that the
ADR has steadily been increasing since June 2020 as demands and rental prices recover post COVID-19. In
consideration of growing demand in 2022 which has resulted in peak levels of occupancy in recent months (as
outlined in Figure 2.6), the ADR is likely to increase further in the near term.

Figure 2.7. Monthly Revenue and Average Daily Rate for Short Term Rental Dwellings in Noosa, June 2020
to September 2022

                      $30,000,000                                                                         $750



                      $25,000,000                                                                         $625



                                                                                                                 Average Daily Rate (AU$)
Total Revenue (AU$)




                      $20,000,000                                                                         $500



                      $15,000,000                                                                         $375



                      $10,000,000                                                                         $250



                       $5,000,000                                                                         $125



                              $0                                                                          $0
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                                     Revenue (AU$)                            ADR (AU$)
Notes: ADR = Average Daily Rate. RevPAR = Revenue Per Available Room. USD values were converted to AU$ values based on the monthly
exchange rate for the respective months.
Source: AirDNA data supplied by Noosa Shire Council.

Table 2.3 provides a breakdown of the Noosa short term rental dwelling market by location. Noosa Heads is the
primary destination for visitors seeking short term rental accommodation, accounting for 142,438 nights occupied
and 241,755 nights available in YE July 2022 (~40% of total demand and supply in Noosa for the year). Noosaville
is the second main destination with approximately half the demand and supply of short term rental dwellings of
Noosa Heads, followed by Sunshine Beach. Combined, these three locations account for approximately 75% of
nights occupied and available in Noosa.




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