Global Hospitality Report (December 22, 2014)

Sri Lanka Tourism: Moving Full Steam Ahead 
By Shamsher Mann and Pooja Goel

The article analyses the evolving tourism landscape of Sri Lanka with improvements in infrastructure, tourist arrivals, and hotel market performances focussing on Colombo, Southwest Coast and Passikudah. It also identifies key trends and challenges.

Market Pulse: Moldova 
By Nikolas Pavlidis

This article summarizes the recent tourism trends in Moldova.

In Focus: Kuala Lumpur 
By Lara Sarheim and Setthawat Hetrakul

This article summarizes the recent tourism trends in Kuala Lumpur.

Tourism Development Bank for Myanmar 

With the rapidly growing tourism sector and a critical need to address the subsequent demand for capital amongst domestic developers to enter the industry, a Tourism Development Bank will be founded shortly in Myanmar. Having already secured government approvals to commence operations, the bank will primarily be aimed at supporting and improving the nation’s tourism sector by assisting entrepreneurs and providing loans and technical aid to local hotels and tour companies. Between 2010 and 2013, Myanmar saw an increase in tourist arrivals from 79,000 to 2.04 million at a CAGR of 37%. The number of hotel properties in the same period increased by 34%, from 691 to 923, with a consequent increase in total number of rooms from 235,000 to 348,000 (+49%). Foreign investment in hotels and commercial complexes have however seen little change, with merely 3 additional projects being added to the existing 36, reflective of the precautious stance adopted by international investors owing to the political situation in the country. Moreover, this initiative which is likely to boost hotel development by locals may further increase barriers to entry for foreign investors.

HVS Hodges Ward Elliott Advises Invesco On Pullman Paris Sale  

Acting on behalf of one of its dedicated hotel funds, Invesco Real Estate has sold the Pullman Hotel Paris La Defense to an affiliate of the Qatar Armed Forces Investment Portfolio for an undisclosed sum. Accor will continue to operate the 328-room hotel under a long-term lease agreement. HVS Hodges Ward Elliott represented Invesco on the transaction.


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