Asian investors look to NZ hotel sector after Australian spending spree

Tue, 11 Sep 2012

By Hannah Lynch Sept. 11 (BusinessDesk) - Asian investors are looking to the New Zealand hotel sector after an Australian spending spree boosted sales across the Tasman by 96 percent. Australian hotel sales soared 96 percent to A$1.5 billion in the 12 months ended June 30, according to data from commercial real estate firm Jones Lang LaSalle. Asian investors accounted for 90 percent of sales in the period. That's an average of about 30 Australian hotel sales per year, compared with New Zealand's four. "It is more of an Australasian story...

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