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Tourism and travel growth to spur more investment in hotels
Tourism and travel growth to spur more investment in hotels

After taking a painful shellacking in the last recession, the international hotel market has roared back with such vigor that more growth is expected in 2015 as new investors buy or build hotels, a report said. Both business and leisure travelers are booking rooms again, leading to an expected 3.9% increase in money spent on international travel and tourism this year, consulting firm EY said. Hospitality will be increasingly recognized as a key driver of economic growth at the local, regional and global levels. Many of the new investors in hospitality are from China and other Asian countries including Japan and Singapore. In Los Angeles, Asian investors spent $844 million buying sites...

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