North Coast Commercial Accommodation Prospectus
The North Coast was the most visited region in Australia for 2020 and Jun-Jul 2021 producing over 23M room nights annually. Interest in and demand for holidays on the North Coast continues to grow at an exponential rate providing great investment opportunities for our region.
The North Coast Commercial Accommodation Prospectus provides an overview of the investment-ready opportunities available in the North Coast region of NSW and supports the proactive management of sustainable growth which Councils, industry and Destination North Coast are keen to promote for our visitor economy.
With our stable economic environment and solid growth forecasts, combined with competitive property markets and a flexible planning regime, investors are drawn to our safe long-term investment climate.
The North Coast is a proactive and pro-business region, that is investing in public infrastructure to underpin future commercial development. We welcome private investment in tourism and work closely with investors to explore potential projects and strategic partnerships to capitalise on our highly accessible location and significant opportunities.
We are working with our partners, the various councils which make up our region, our industry operators, and the Australian and NSW governments to unlock the potential of the North Coast region.
We invite you to contact us to discuss the many investment opportunities on offer in our region.
Accommodation Reinvestment Workshops & Mentoring Program
Accommodation owners were invited to attend Accommodation Reinvestment Workshops. These workshops conveyed the research findings conducted already and set out to gain intelligence for an owners/managers reinvestment guide DNC will be producing.
The workshops covered the following:
- Regional visitor forecasts out to 2030 to support future new investment
- Product gaps for accommodation and options for filling them (expansion and/or new builds)
- Support available via various State Government and other programs
- Updates, upgrades and enhancements to consider when reinvesting in your property
- Changes in occupancy and average room rates possible
- Summary of trends for the future to leverage off
The workshops also provided an opportunity to learn more about the Accommodation Reinvestment Mentoring Program (now fully subscribed), comprising 3 hours of mentoring from Stafford Strategy in relation to reinvesting in your property. There are several opportunities already identified by Stafford Strategy for growth of existing tourism accommodation businesses throughout the North Coast.
North Coast Accommodation Reinvestment Guide
In addition, the North Coast Accommodation Reinvestment Guide focuses on expanding and growing the quality of the North Coast’s accommodation offering to support our high-quality natural environment and tourism attraction base. The guide provides tools to help determine the viability of investment into new and existing tourism businesses and to help plan the development of new and extended opportunities.
This Guide is for potential investors and operators (existing and new operators) who intend to develop a new or expand an existing product, that may involve existing buildings and/or new construction, but who may not yet have experience in the tourism industry.
It is a guide that aims to assist project proponents to conceptualise, plan and develop their projects into bankable investment opportunities
Future Demand and Accommodation Research
Destination North Coast commissioned two research studies aimed at reviewing anticipated future visitation, the regions capacity to accommodate the demand and a robust review of current stock and guidance on how to secure investment for tourism accommodation.
Project 1 – A Tourism Research Report, the purpose of which is to undertake detailed visitor data analysis (including current and projected visitation levels) as well as undertaking a product audit, gap analysis and evaluating the regions current ability to accommodate the predicted demand.
The primary objective of the research was to provide in depth analysis of current and predicted levels of visitation, future trends that will impact the success of our region moving forward and what individual destinations and the region can do to grow the visitor economy. In addition, the research has benchmarked the region against other relevant destinations.
The research includes analysis and findings on a variety of key topics including:
- Total Visitation and visitation type and source markets by LGA
- Change in visitation to Australia and LGA by key inbound markets
- A variety of estimated visitor spend by LGA – 2019
- Visits projections (all visitor types) by LGA (2019 – 2029)
- Visitor spend projections (all visitor types) by LGA (2019 – 2029)
- Attractions summary for the North Coast and per LGA
- Accommodation summary for the North Coast and per LGA by property category (Properties and Rooms)
- Sharing economy impact on each stage of the travel
- Analysis of visitor perceptions of activities & things to do in the North Coast
- Accommodation Gap Analysis
- Attractions & Experiences Gap Analysis
- Destination critical success factors
Access the research through the following links;
Project 2 – An Accommodation Reinvestment Report, which includes researching best practice accommodation reinvestment, investigating accommodation investment opportunities and ultimately the compilation of an investment prospectus for the region
The research includes analysis and findings on a variety of key topics including:
- A detailed assessment of the current supply of accommodation
- Competitor and comparative analysis on – occupancy rates, destination and what does success look like
- How to encourage investment into your destination
- Best practice guidelines
- Accommodation Investment Opportunities
Access the research through the following links;