The Blue Swan Daily brings you a round up of the latest key hotel news from across the South Pacific.
- Waikato Regional Airport’s investment property portfolio increases by USD1m in value
- TAA: Tourism accommodation industry is undergoing its ‘largest and most dynamic era of growth’
Waikato Regional Airport’s investment property portfolio increases by USD1m in value
Waikato Regional Airport Limited (WRAL) announced (04-Oct-2018) its investment property portfolio increased in value by NZD1.6 million (USD1 million) following an end of FY2017/2018 valuation. This followed a NZD3.3 million (USD2.1 million) gain in FY2016/2017. The Hamilton Airport Hotel and Conference Centre was purchased by WRAL in Jan-2018, with planning underway to significantly upgrade the facilities during 2019.
TAA: Tourism accommodation industry is undergoing its ‘largest and most dynamic era of growth’
Tourism Accommodation Australia (TAA) released (Sep-2018) its TAA Hotel Innovation Report, reporting the Australian tourism accommodation industry delivers AUD8 billion (USD6 billion) to the Australian economy and employs over 187,000 people directly and indirectly. According to the report, the tourism accommodation industry is undergoing its “largest and most dynamic era of growth” which is “promoting a comprehensive re-generation of its hotel product, with new lifestyle and boutique hotels reflecting the changing traveller demographics”. TAA stated the concentration of new hotel openings has been in cities such as Perth, Brisbane and Adelaide over the past four years, but a “new era of hotel development is sweeping across Australia, with 200 new or upgraded hotels scheduled to be launched by 2025”.