62
ANNUAL REPORT 2015
FRASERS HOSPITALITY TRUST
OPERATIONS REVIEW
AUSTRALIA
Within the Australian lodging market,
Sydney continues to be one of
the best performing cities. For the
year ended June 2015, overnight
visitors increased by 6.1% to more
than 30.5 million, of which 3.1
million were international visitors.
Resilient corporate demand and the
weakened Australian dollar led to an
increase in occupancy in Sydney to
84.6% in 1H2015, up 2.3% year-on-
year. As at 1H2015, ADR increased to
AUD207.0, up 4.5% year-on-year.
The Sydney market is expected
to continue to record a strong
performance going forward.
Growth in the city is supported by
the weakened Australian dollar as
well as the pending completion
of the SICEEP and Barangaroo
Development.
FHT’s initial Australia portfolio of
Novotel Rockford Darling Harbour
and Fraser Suites Sydney performed
well in FY2015. Both properties
closed the year with occupancies
above 90%. In July 2015, FHT
completed the acquisition of the
436-room luxury Sofitel Sydney
Wentworth in the heart of Sydney’s
CBD, bringing its Australian portfolio
to two hotels and one serviced
residence. With this acquisition,
FHT has significantly strengthened
its foothold in Sydney, an attractive
lodging market with strong growth
prospects. Since acquisition, Sofitel
Sydney Wentworth has performed
well. For the Australia portfolio,
GR increased by 16.0% to AUD22.8
million and NPI increased by 20.4%
to AUD18.3 million, relative to
forecast.
Fraser Suites Sydney, Two Bedroom Ap
art
m
e
n
t
204.0
84.0
171.0
206.0
90.9
188.0
ADR (AUD)
AVE OCC (%)
REVPAR (AUD)
Q
Actual
FY2015
Q
Forecast
