Great Ocean Road is mid-range budget — it is mainly car rental and petrol cost that make the expense. Reference budget €150/day/person for the road trip.
Accommodation (30-40%): Apollo Bay and Port Campbell are recommended stops. Apollo Bay: YHA (hostel) AUD 80-150/dorm or room, motels AUD 100-200/night, 4* hotels AUD 200-350 (Great Ocean Road Resort, Captain's at the Bay), charming B&B AUD 250-400 (Beacon Point Ocean View Villas). Port Campbell: limited choice, Port Campbell Hostel AUD 80-150, Sea Foam Villas AUD 200-350, motels AUD 150-250. Book 1-2 months ahead in high season (December-February).
Food (15-20%): Apollo Bay Co-op fish & chips AUD 20-30/person, Apollo Bay and Port Campbell restaurants AUD 35-60/person, coastal village sandwich shops AUD 12-20. Café breakfast AUD 15-25/person.
Transport (25-35%, the biggest post): compact car rental AUD 50-80/day (Sixt, Hertz, Europcar, Avis, Bargain Car Rentals in Melbourne), SUV or 4WD AUD 80-150/day (useful but not necessary — well-paved road). Petrol: AUD 150-200 for round-trip Melbourne road trip (about 600 km total, consumption 8-10 L/100 km, petrol price AUD 1.80-2.00/L more expensive in coastal villages).
Activities (10-15%): Most major sites are free (12 Apostles, Loch Ard Gorge, Cape Otway koalas, beaches, lookouts, Erskine Falls). Paid: Otway Fly Treetop Adventures AUD 30, Cape Otway Lightstation AUD 19, Surf World Museum AUD 13, Warrnambool Flagstaff Hill Maritime Museum AUD 15, Torquay surf lesson AUD 90-120.
3-day Great Ocean Road road trip estimate (couple): €800-1,400/couple in comfort mode (3* motels + mid-range restaurants + compact car), €1,500-2,500/couple in premium mode (4-5* hotels + gourmet restaurants + SUV).
Day excursion alternative from Melbourne: AUD 120-180/person (Go West Tours, Autopia Tours, Bunyip Tours, 7:30am-9:30pm departure-return, 12 Apostles + Cape Otway + Lorne + lunch included). Economical but very long day, crowds, limited stops.
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