Tourism Real Estate update – April 2010

Selling Tourism PropertiesThe long, long summer has seen business continue at excellent levels throughout the region, in hospitality, accommodation and leisure. We are getting daily reports of excellent forward bookings.
Tourism industry demand increased 3.3 percent in the past three months, compared with the same period last year, while profitability increased 2.4 percent. In the current May quarter, demand is expected to increase by 0.7 percent and profitability by 1.3 percent, according to the latest Tourism Industry Monitor (TIM).
Buyer enquiry remains high and sales are happening again, after a pretty dry 2009.
Funny, it’s autumn, but there is spring in the air!
Obtaining finance remains a problem for many buyers: increasingly, vendor finance is the tool of choice to get deals across the line. Amongst other benefits, it gives the buyer confidence that the vendor has faith in the on-going strength of the business – after all, that’s how the vendor will be repaid!
Nothing like this long, late summer and pre-dinner drinks “al fresco” to get us all to appreciate how much we owe to the hospitality industry!

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