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Griffith & Western Riverina Accommodation Investment Griffith & Western Riverina Accommodation Investment Prospectus Catania Fruit Salad Farm, Griffith Credit: Destination NSW Why invest? Welcome to 6 million visitor trips in 2018 Destination Riverina Murray +1.9 million trips between 2009-18 3.7% growth p.a. in visitor trips since 2009 The Riverina Murray is one of the most Encompassing 149,000 square kilometres diverse regions in NSW, with a variety and 22 local government areas, the of visitor experiences including alpine region has a great diversity of tourism landscapes, arid outback, mountains, assets and varying visitor markets, making NSW Proximity to rivers and major inland cities. it necessary to focus development at major markets the subregional level. SA RIVERINA MURRAY Easily accessible for ACT NSW, SA, VIC and ACT The existing supply of accommodation is VIC visitor markets inadequate to meet changing consumer desires for quality, contemporary and experiential accommodation. Significant investment is needed to improve and expand the accommodation supply to Market Desire match the high-quality regional tourism Increasing desire offering. for quality, contemporary and experiential visitor Destination Riverina Murray is accommodation interested in working with both existing accommodation property owners and new investors to develop the accommodation offering in the region Riverina so that it meets the future demand and + 970,000 Murray expectations of travellers. This document visitor nights Projected additional presents a shortlist of opportunities visitor nights by 2027 currently available in the accommodation sector and we encourage you to get in touch if you would like to find out more. Piccolo Family Farm, Griffith Credit: Destination NSW AVERAGE LENGTH OF STAY Overnight visitors to the region stay on average 2.5 Griffith & nights per visit. Distance from Griffith Western Riverina to Major Centres Canberra 4 hrs Canberra 13 hrs Sydney 1.25 hrs The Griffith and Western Riverina region is comprised Sydney 6 hrs Sydney 10 hrs VISITOR NIGHTS Melbourne 1 hr of the Carrathool, Griffith, Leeton, Narrandera Melbourne 5.25 hrs Melbourne 7 hrs and Murrumbidgee Councils. This includes the IN COMMERCIAL regional city of Griffith, and key towns of Darlington ACCOMMODATION* Point, Leeton, Carathool, Hillston, Narrandera and Jerilderie. 161,427 Key product experiences in the region include Domestic 156,550 historic towns and heritage-based attractions, Overnight Projected+ increase Willandra picturesque rivers and waterways and a range of Visitors Annually National Park food, wine, brewing and distilling experiences. in total nights HILLSTON staying in commercial Business travel is the most significant overnight visitor 4,476 accommodation International market to Griffith and the Western Riverina area. The by 2027. holiday and leisure market complements business Overnight visitors and are an important driver of demand of Visitors Annually Cocoparra National Park overnight accommodation. *Commercial accommodation includes hotels, GRIFFITH CARRATHOOL caravan parks, B&Bs, but does not include staying at private accommodation such as with friends LEETON and family. Oolambeyan DARLINGTON National Park POINT NARRANDERA New South Wales South JERILDERIE Australia Outback Riverina Australian Capital MURRAY Territory RIVER Griffith & Wagga Western Wagga & Riverina Eastern Victoria Riverina Central Murray Albury Snowy Hume Valleys Limone Dining, Griffith Credit: Destination NSW Accommodation Supply There are 90 accommodation establishments in Griffith and Western Riverina predominately motel/ motor inn (36%) and hotel/resort (20%). Primary visitor markets Of the total 1,645 rooms in Griffith and Western Riverina, motel/motor inn rooms contribute Business visitors approximately 50% of available rooms (788 rooms). The Griffith and Western Riverina Most of these rooms are 3-3.5 star and are relatively region receives high levels of business visitation, due to the number of outdated, indicating a clear need for investment in regional level conferencing and quality, contemporary accommodation. industry located in Griffith and the surrounding region. Establishments Rooms Motel/Motor Inn 32 36% 788 48% Transient Labour market Hotel/ Resort 18 20% 265 16% There are a variety of contractor/ Caravan/camping (Cab- labour jobs in the region, particularly ins only) 13 14% 229 14% in Griffith. These markets provide Self-contained house/ significant opportunity for the 13 14% 81 5% development of long-term and self- apartment/unit contained visitor accommodation. B&B/Guesthouse/Farm- stay 9 10% 28 2% Backpacker/hostel Adult Couples 5 6% 254 15% Aged 30-40 years old, this group is a key Total 90 100% 1,645 100% target market for the region, as there is a range of contemporary visitor experiences in Griffith to attract this market for a holiday, as well as nature- based attractions throughout the region to provide a romantic couples visit. Nature-based visitors There are a range of natural attractions Accommodation Needs for targeted investment towards the nature-based experience market, with The table below provides a forecast for additional the Murrumbidgee River, Gogeldrie accommodation rooms required in the Griffith and Weir, Cocoparra National Park and Western Riverina region by 2027. other sites providing significant opportunities for complementary accommodation development. The forecast is based on a conservative occupancy rate of 65% and has been calculated using data from existing accommodation supply and demand along Secondary visitor markets with estimates of future activity such as population growth. Based on the mid-point growth scenario it is Event Market estimated an additional 341 rooms are required to meet projected demand in the accommodation sector. Family Groups Forecast Room Needs 2027 High Mid Low Scenario Scenario Scenario 65% High end travellers Occupancy 448 341 209 Hermit’s Cave Lookout Source: Griffith City Council Invest in Invest in Tourist Park Cabin Style/ Fully Self-contained Units There is an opportunity to develop a high-quality This type of accommodation is well-suited to family Target Event Market Tourist Park, which has full facilities and amenities to and events markets who want an affordable yet Target Event market Markets Markets provide visitors with an excellent experience, such as Family Groups comfortable experience. Cabins or self-contained Family groups swimming pools, water play, gym facilities, and dining units are practical for these markets, however need Transient labour market experiences. The development of a Tourist Park is to maintain a contemporary style to attract younger ideal for family, leisure and sporting markets. Success Family friendly facilities markets into the future. Success Clean and contemporary Factors High amenity and quality facilities Factors Value for money The $25 million redevelopment of the Griffith sports Branded resort This is well suited to the transient labour market, who precinct provides the ideal trigger for this type of require the stability of self-contained accommodation development, as Griffith will be looking to attract Potential Griffith but don’t want to pay an unnecessary amount. There Potential Griffith regional carnivals and events and as a result will is a specific opportunity to develop this style of Investment Narrandera Investment Darlington Point receive an increase in visiting sporting groups, families Locations accommodation in Darlington Point, which supports Locations Darlington Point and event visitors. spill over visitors from Griffith and is strategically Leeton Gogeldrie Weir (near Leeton) positioned to support more transient labourers. There is an opportunity to have a range of accommodation types within the Tourist Park, such as larger-scale group accommodation for sporting groups, family style cabins and smaller rooms for other travellers. There is also an opportunity to develop a range of mid to high quality cabins to accommodate high-end travellers and adult couples. Source: Visit NSW Best Practice The Haus Studio, South Australia Best Practice Cobram RACV Resort, Cobram, Victoria Source: The Haus Studios Invest in Invest in 4 Star Accommodation Self-Contained Accommodation This is an important accommodation type to develop A Quest property has recently been developed in Target Business travellers Business travellers in Griffith. Major projects currently underway in Griffith and is well suited to the visiting business Target Markets Markets Griffith have meant an influx of trades and transient Coach groups travellers. There is further opportunity to establish 4 High-end travellers labour force, with a lack of accommodation to Transient labour market star self-contained accommodation in Narrandera and Adult couples support them. Event market Leeton which also have a strong business market Family groups driven by intensive agriculture and food processing in Success Contemporary accommodation There is opportunity to expand the current number of the region. This accommodation typology may also be Factors Town centre location coach groups travelling throughout the region, with Success Contemporary, clean design utilised by weekend holiday leisure and event visitor a dinner/bed and breakfast type offering to support Factors Proximity to CBD amenities markets. the needs of these visitors. Delivery of quality amenity for Potential Leeton affordable prices Investment Narrandera Locations Potential Griffith Investment Leeton Locations Narrandera Best Practice Meriton Suites, Gold Coast Best Practice
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