In this report, Ernst & Young reveals its top global hospitality insights for 2015. Some of the key insights relevant for the Australian hospitality sector include:
- Asian investment will continue to contribute strongly to the M&A picture in the Australian hospitality sector in 2015. Globally, China, Hong Kong, Japan and Singapore represented over 40% of all transactions in 2014; continued investment is expected from Asia into North America, Europe and Australia in 2015. Despite some headwinds, the global industry is thriving and optimism prevails.
- Growth in global travel is expected to increase by 3.9% in 2015, acting as a key driver of economic growth at a local, regional and global level. To continue to capitalise on these opportunities the Australian industry must keep striving to ensure its strategy has a clear differentiator.
- Australia has seen significant hotel development spending and new construction is either already completed or being planned, particularly in the major city commercial districts.