In this report, Ernst & Young reveals its top global hospitality insights for 2015. Some of the key insights relevant for the Australian hospitality sector include:
- Asian investment will continue to contribute strongly to the M&A picture in the Australian hospitality sector in 2015. Globally, China, Hong Kong, Japan and Singapore represented over 40% of all transactions in 2014; continued investment is expected from Asia into North America, Europe and Australia in 2015. Despite some headwinds, the global industry is thriving and optimism prevails.
- Growth in global travel is expected to increase by 3.9% in 2015, acting as a key driver of economic growth at a local, regional and global level. To continue to capitalise on these opportunities the Australian industry must keep striving to ensure its strategy has a clear differentiator.
- Australia has seen significant hotel development spending and new construction is either already completed or being planned, particularly in the major city commercial districts.
Via Tourism Australia
"The global hospitality industry entered 2014 on an upward growth
trajectory; a greater sense of optimism was palpable across mostregions, as accelerating capital markets, favorable supply anddemand balances, and strong investor appetites fueled highertransaction volumes and strengthened lodging fundamentals."