STRATEGIC PORTFOLIO CONSTRUCTION FOR HOTEL INVESTMENTS
||Newell, Graeme; Ross Seabrook
||STRATEGIC PORTFOLIO CONSTRUCTION FOR HOTEL INVESTMENTS
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||Given the stature of international tourism, hotel properties are an important property investment sector. While considerable research has been conducted for office, retail and industrial property, only limited research is available concerning the hotel sector; particularly concerning hotel investment decision-making. Using REVPAR data and 41 hotel variables, geographic and economic influences will be assessed for hotel investments in ten major hotel markets in Australia over 1988-2004. The resulting improved hotel portfolio construction and re-weighting procedure will be assessed via case-studies for two major institutional hotel portfolios to assist hotel investment decision-making.
||hotel investment; diversification; geographic influences; economic influences; REVPAR; portfolio re-weighting
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