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Hotel Asset Management Principles & Practices Book
Second Edition (Mr. Alex Sogno)
Abstract of "Global Asset Management" Chapter
AS WE ENTER THE 21ST CENTURY, a new world order is creating
an increasingly interdependent global economic system as a result
of declining trade and investment barriers, advances in
transportation, telecommunication and a globally dispersed and
integrated production and marketing supply chain for goods and
services. All of these changes will have a significant impact on the
travel, tourism and hospitality industry.
According to the World Travel and Tourism Council (WTTC) 2006
report, the global demand for Travel and trillion by 2016. The
globalization of major operators and investment funds is the natural
step in this evolution and asset managers have to embrace the new
challenges. While operational savoir faire, financial expertise and
valuation knowledge remain the necessary skills for asset
managers, the challenges and opportunities of globalization must be
comprehended in order to manage current international real estate
portfolios.


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