Australia's hotel sector is poised to surpass last year’s $2.6 billion in sales as commercial property investors seek to diversify their portfolios. In the first quarter of the year alone, almost $500 million in hotel deals were conducted across the country.
In fact, CBRE claims that hotels are the third-most sought-after asset in the country behind logistics and office space.
A poll gauging investor intentions across the Asia-Pacific released last week found that 14 percent of investors intended to spend on hotels. This is an increase of 1 percent over last year, CBRE said.
Still, investors looking to buy hotels in key hubs may find a "lack of stock," as CBRE’s 2016 Asia-Pacific Investor Intentions report said--making regional areas more attractive for future deals.
Source: Herald Sun