• Sydney booms
Sydney is experiencing a hotel building boom, with 5,300 rooms to be added by the end of the decade. High demand means the Australian city is the 15th most expensive global city destination, reports Bloomberg.

Occupancy is forecast to peak at 88.8% in 2016, according to agents. The largest project in the pipeline is a 650 room hotel being developed by Lend Lease, that has yet to find an operator.
Read the full story here:
http://www.bloomberg.com/news/2014-07-14/sydney-set-for-biggest-hotel-boom-since-olympics-in-2000.html
 
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