Hotel investors flock to booming Australian market

09/19/2013 | HotelNewsNow.com

The Abu Dhabi Investment Authority's acquisition of 31 Accor hotels in Australia is the latest sign of strong transaction activity in the market. The investor interest is driven by positive hotel performance in the country, particularly in Sydney, which recorded 6.4% growth in revenue per available room in August, according to preliminary data from STR. Hotel occupancy across Australia reached 72.8% year to date through July, with revPAR and average daily rate up 2.6% and 1.8%, respectively, in local currency.

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