The soft Aussie dollar and the desire to experience our ‘cool country’ is driving up Oaks Hotels & Resorts’ business, according to the group’s latest figures.
During the first six months of the year, Oaks says it outperformed its key competitors in the local market with assets exceeding $300 million.
Total revenue between January and June reached $280 million, with the company earning some 10 percent more in room revenue compared to the same period last year.
Properties around the country are almost full with an average occupancy rate of 74 percent for the year-to-date.
But the company’s success doesn’t stop there.
According to the group, during the first half of the year it also had the strongest gains over its competitors, with acquisitions in Townsville, Gladstone, the Hunter Valley, and Broome.
Chief Operations Office, Mike Anderson, attributed the rise to the rising number of Australians choosing to travel domestically.
He said moving forward, the company would remain focused on the future and optimising further growth through additional acquisitions.
“We are looking at multiple acquisitions both here in Australia and abroad, with an emphasis on growing our holdings throughout the Australasia region as part of our five year plan.”
Mike Anderson, Oaks Hotels & Resorts Chief Operations Office
Currently the group has 45 properties in 19 regions across Queensland, New South Wales, Victoria, South Australia and Western Australia.