Tourists hit the sweet spot
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.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
