Reservations for everything from caravan parks to five-star hotels started flooding in a year ago and hotel booking websites report travellers coming from overseas, and more than 100 locations across Australia, with a "huge increase" from Perth.
The average nightly rate for a CBD hotel room during the conference has risen to $500, compared to $150 for the weekend before, according to wotif.com. Reservations for the booking website's 600 Melbourne properties have soared, with 80 per cent of city hotels already sold out.
And Wotif product director Donna Rodios said prices were still rising, forcing travellers out to the suburbs and as far as Geelong and Torquay.
"The outer northern, southern, eastern and western suburbs are recording a combined [week-on-week] increase of more than 100 per cent," she said.