Strong demand for rooms within Australia's hotel sector is helping to boost investor confidence in the sector at present, it has been revealed.
Chief executive officer (CEO) of Choice Hotels Australasia Trent Fraser told the Property Council of Australia that healthy occupancy data means those looking to invest in Australian property view the industry as one where ongoing gains can be found, both in the short and long term.
"The trading market is underpinned by strong domestic corporate demand and the general outlook is very positive, largely due to minimal new supply additions proposed," commented Craig Collins, CEO for Australasia for Jones Lang LaSalle Hotels.
He added that yield profiles for the hotel sector remain firm at present, which bodes well for future investment.
Research carried out by CBRE recently highlighted the ongoing popularity of Australian property among international investors.
The report showed $10.8 billion (AU$10.29 billion) in transactions among Asia-Pacific investors for the 12 months to June 30th 2012.
Posted by Craig Francis
