Hotels are experiencing almost full bookings while room tariffs have seen a 100 per cent jump.
"Despite a huge surge in hotel tariffs, occupancy rates in Australia are experiencing full bookings compared to the average occupancy rate of 60-65 per cent for the year. Millions of tourists, both domestic and international, are expected to visit Down Under to watch the matches," said general manager of a leading Melbourne-based hotel.
He added that the average room rates of hotels across the country are around AUD 150 (Australian dollars) which has now doubled to AUD 300. While for the luxury hotels, the average tariff is over AUD 350 which has turned into AUD 700.
As per the Accommodation Association of Australia, there are 227,320 tourism accommodation rooms within Australia and 640,454 bed spaces. Majority of them are hotels, followed by resorts, serviced and holiday apartments, bed and breakfasts, guest houses and backpackers across the country.
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For hoteliers, the cricket World Cup is one of the biggest sporting events held in Australia and New Zealand after a long gap of 23 years.
Experts feel that the grand event will surely give a boost to the Australian government's plan to take tourism to the next level by 2020.
As part of its sports diplomacy programme, the government trade commission has been holding a series of business events during the World Cup that will focus on investment, education and tourism.
"Cricket World Cup is a win-win situation for us. Tourists coming to watch matches in Brisbane have planned their trips further to the Gold Coast, known for its beautiful sun-kissed beaches, Noosa and other nearby places," said owner of a hotel chain located in Gold Coast.
Besides tourists destinations like Sydney and Melbourne, Queensland too has a wide tourism market which is dominated by four regions - Brisbane, the Gold Coast; Tropical North Queensland and the Sunshine Coast.