Pacific Islands Well Placed To Lead World Tourism Growth
The
Pacific Islands are well placed to attract some of the displaced demand
from south-east Asian resort destinations during this period of political
uncertainty, according to Jones Lang LaSalle Hotels. The firm’s latest
report FocusOn Pacific Islands, addresses the limited analysis
available on the regions’ tourism and hotel markets. It covers the major
markets of Fiji, the Cook Islands, Samoa, French Polynesia, Vanuatu and
New Caledonia.
According to
the report, long-term international arrivals (1991 to 2001) to these markets
have increased at an average rate of 4.4% pa, surpassing the global average
growth rate of 4.0% pa. The Pacific Asia Travel Association (PATA) predicts
tourism arrivals to Fiji, the Cook Islands and Vanuatu will grow at above
average rates to 2004.
“During this
period of political uncertainty, we anticipate the Pacific Islands will
attract some of the displaced demand from resort destinations across
south-east Asia” said Troy Craig, Senior Vice President, Jones Lang LaSalle
Hotels. “The islands’ proximity to the lucrative markets of the US west
coast, south-east Asia and Australia/New Zealand represents a great
opportunity for the region to grow tourism at even faster rates than have
been achieved over the past decade.”
A major
factor in favour of these destinations is their relatively unspoilt natural
environments, allowing the region to directly benefit from the prolific
demand for diving holidays. Needless to say, preservation of this pristine
natural environment will be critical if the region is to benefit from
expectations of continued strong growth in diving holidays over the longer
term.
The future
of tourism development in the region will also depend on greater air
connectivity and capacity, as well as increased competition to drive down
airfares. “Some of the Pacific Islands have suffered at the hands of
limited air capacity making those seats that are available expensive when
compared to competitive resort destinations around the world” said Mr Craig.
Historically, the region has also lacked sufficient international hotel
brand presence that is essential in attracting higher yielding tourists.
“International brands are looking to gain a stronger foothold in the Pacific
Island markets. This will improve the overall level of service in the
region and in doing so, improve its reputation as an international ‘value
for money’ destination” Mr Craig concluded.
FocusOn
Pacific Islands is available to download at
www.joneslanglasallehotels.com.
|
Pacific
Islands Market Markets’ Accommodation Performance |
|
|
Fiji |
Cook Islands |
Samoa
|
French
Polynesia |
Vanuatu |
New
Caledonia |
|
International arrivals in 2001 (‘000s)
|
348 |
75 |
88 |
228 |
53 |
101 |
|
International arrivals growth (1991-2001) |
2.2%pa |
6.4% pa |
8.4%pa |
6.5%pa |
3.0%pa |
2.2%pa |
|
Current room supply |
5,380 |
793 |
1,050 |
1,246 |
400+ |
1,746 |
|
Possible future room supply |
765 |
499 |
95 |
N/A |
75 |
25 |
|
Year ending
December 2001* |
|
Occupancy |
47.2% |
71.1% |
N/A |
57.0% |
70%
(a) |
47.1%
(b) |
|
Average daily rate US$ |
N/A |
$60 |
N/A |
$67 |
$70
(a) |
$95 |
|
Revenue per available room (US$) |
$51 |
$43 |
N/A |
$38 |
$49
(a) |
$45 |
|
* Latest available data for regional comparison ** Future supply is
that are currently either
under
construction, planned or proposed.
a) Estimate based on Jones Lang LaSalle Hotels’ market knowledge
b) Noumea only
Source: Jones Lang LaSalle Hotels |
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 International
Arrivals to
Key
Pacific
Island Markets 1991-2001
Revenue Per Available Room Movements - Key Pacific Island Markets
1993-2001
Jones Lang LaSalle Hotels, the world’s leading hotel
investment services group, provides clients with value-added investment
opportunities and advice. In 2001, its success story includes the sale of
7,972 hotel rooms to the value of US$1.3 billion in 39 cities and advisory
expertise on 100,550 rooms to the value of US$26.3 billion across 255
cities. Jones Lang LaSalle Hotels’ services include transactions, mergers
and acquisitions, financial advice and capital raising, valuation and
appraisal, asset management, strategic planning, operator assessment and
selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the
world’s leading real estate services and investment management firm,
operating across more than 100 key markets on five continents.
www.joneslanglasallehotels.com
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