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Exciting Growth Potential for the Global Hospitality Industry in 2015

by Sid Vaikunta

In recent years, the global hospitality sector has experienced a great deal of growth, a trend that will likely continue throughout 2015 as luxury hospitality facilities emerge in new locales and create a climate for acquisitions. The travel and tourism industry contributes nearly 10 percent of the global gross domestic product, and industry specialists predict that the sector will grow by about four percent in the coming year, as more investors recognize its potential as a driver for economic growth.
Global travel continues to increase across all segments, including leisure, group, and corporate travel. As more people travel more often, tourist destinations attempt to distinguish themselves from the myriad of other locations. A primary factor in desirability is the level of hospitality available, especially in the luxury markets.
As a large number of new hotels open in the coming year, investors will begin paying attention to those able to attract tourists—especially those located in emerging secondary markets such as India, Africa, and the Middle East.
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