Parramatta's new Bankwest Stadium hailed as economic "success story”
Western Sydney's new Bankwest Stadium has received praise from hospitality company Accor, who claim the project is leading to a positive local economic impact.
According to a report commissioned by the City of Parramatta Council, Parramatta’s local economy receives a million-dollar boost every time an event is held at the new Bankwest Stadium.
Economic analysis was undertaken by Micromex Research, which revealed three sporting events at the stadium generated an estimated total of $2.92 million for the Parramatta Local Government Area, so far this year.
Since the opening of Bankwest Stadium, hotels in Parramatta and surrounding areas are reporting apparently unprecedented occupancy levels on event days that are continuing to climb to around 80%, up around 20%, when compared to non-event days.
Bankwest Stadium has also had an impact on incremental spend, with Novotel Sydney Parramatta, for example, reporting an increase of over 50% spent at the restaurant, bar and parking, on game days.
Simon McGrath, Chief Operating Officer for Accor Pacific, oversees over 400 hotels across Australia, New Zealand, Fiji, French Polynesia, and Hawaii and says the NSW Government’s decision to invest in Bankwest Stadium as a world-class venue is a great tourism success story, which extends well-beyond the stadium itself.
The project has not been without controversy however, with fans criticising the design when it opened earlier this year, and suggesting that some seating areas had obstructed views of play.
