The rise in tourism and domestic travel has seen the global hotel chain AccorHotels report a first-quarter 2016 rise of 1.9 per cent in revenue to €1.16 billion. Sebastien Bazin, chairman and chief executive of AccorHotels, said the group got off to a good start in most of its regions in 2016.
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"The group is carrying out more value-creating initiatives and is moving ahead with its transformation project, including the recent acquisition of onefinestay and the accelerated recruitment of independent hoteliers for AccorHotels platform. This comes as the new Sofitel Sydney is rising out of the ground at a rapid pace and will be the newest hotel in the city for a long time.
Confidence rises
With the federal election looming, Canberra has moved into the spotlight with new figures, canvassing the views of property owners, developers, agents, managers, and consultants, indicating an increase in business confidence.
According to the latest ANZ/Property Council Survey, the Australian Capital Territory recorded a 19 point increase in business sentiment to 138 on the index in the last 12 months to June 2016, the highest yearly increase in the country.
"The overall results for the ACT are positive, with residential, office, retirement living, and hotel/tourism capital growth expectations increasing from the March 2016 quarter," says ACT executive director Merlin Kong.
"It's worth noting that aside from NSW and Tasmania, the ACT was the only other jurisdiction recording a positive government performance index."
