Hilton heads to the suburbs and regions as business booms

Hilton Asia Pacific boss Alan Watts has dismissed concerns about a potential oversupply of hotel rooms in Australia as the global accommodation giant makes a big push into the regions and suburbs through the rollout of its more affordable and smaller scale Garden Inn brand.

“Everyone in industry is grinning because they are celebrating double-digit growth. The industry is more than back on its feet, it’s the most positive sentiment I have seen in 20 years,” Mr Watts told“Everyone is in expansion mode, and it’s much needed.” On the investment front, Mr Watt said investors were favouring hotels over other asset classes like office and retail because the “rates are higher and the returns are there”.In Australia, Hilton’s local development and investor partners include the Su family’s Ausglobal Group and Brisbane-based Pacifica Developments Dealcorp and Bill Moss’s Boston Global .

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The government is jacking up taxes on the gas industry. What's set to change, and how much money will it bring in?Tuesday's federal budget will include changes to a key tax levied on gas exporters, aimed at bringing billions in additional revenue to the budget over the next few years. But some say it still falls too far short.
Source: abcnews - 🏆 5. / 83 Read more »