Project Name: Geelong Tourism and Accommodation Market Update in relation to The Devlin Apartments
Location: The Devlin, Moorabool Street, Geelong
Client: Moorabool Heights P/L (IDS)
Brief: Plans are to redevelop the heritage-listed site at 312 Moorabool Street, Geelong into a 35 key, 4.5 star accommodation facility.
Moorabool Heights P/L commissioned Macroplan to provide a strategic analysis of the Greater Geelong region, as well as an economic analysis of the regional tourism market in order to demonstrate the feasibility of the project.
Methodology: We demonstrated the likely success of the project through:
Analysis of the site’s economic, strategic planning and geographic contexts.
Analysis of the regional market for accommodation facilities, looking at both the demand and supply sides.
Result: Having conducted the analysis outlined above, it was concluded that Geelong was capable of supporting a 4.5 star accommodation facility of this size.
With recent infrastructure improvements and strategic documents supporting growth of regional areas, it was judged that demand for accommodation in Geelong is likely to rise in coming years. With no recent additions to supply, and with no accommodation facilities currently in the 4.5 – 5 star range, we believe that there is room in the Geelong accommodation market for hotel such as the Devlin.