Tourists hit the sweet spot

By Sara Rich

An increase in tourists visiting our shores from emerging international markets is creating stronger returns for local hospitality investors, according to property manager Abacus Funds Management.

In releasing a positive outlook for the local hotel investment market, Paul Lonergan, director of the Abacus Hospitality Fund (AHF), said now was a favourable time to invest in the Australasian hotel sector.

“Current demand for accommodation is strong with occupancy levels across four and five star hotels in most capital cities approaching 80 per cent and demand is forecast to grow, particularly from Europe and emerging international markets such as China, Korea and India,” he said.

Abacus has just released a new offer document for the unlisted AHF that reflects the improvement in asset values and includes an increase in the security price from $1 to $1.03 and an increase in the distribution per security from 8 cents to 8.25 cents.

16 April 2008

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