PATA submits Tourism Investment Vehicle study to EU’s Centre for Development of Enterprise
BANGKOK, Thailand - The conclusion of the second and final stage of PATA’s South Pacific, Tourism Investment Vehicle initiative has now been completed and submitted to the European Union’s Centre
BANGKOK, Thailand – The conclusion of the second and final stage of PATA’s South Pacific, Tourism Investment Vehicle initiative has now been completed and submitted to the European Union’s Centre for Development of Enterprise (CDE). A project led by PATA with funding by CDE, the study was conducted by Perrottet Partners Pty Ltd. of Sydney, a consultancy with more than 25-years of South Pacific expertise in tourism development, investment, and finance.
The findings of the report were overwhelmingly positive for the creation of a structured investment vehicle that would provide a funding platform for approved tourism and hotel developments. Investments could include the financing of new projects, as well as the expansion, upgrading, and refinancing of existing assets. The vehicle would be managed externally and mirror similar investment structures more suited to the needs of both financial institutions and/or individual investors.
Said Chris Flynn, regional director, Pacific region, PATA: “The report bears out our belief that a more structured approach to tourism investment in the region is something both desirable and feasible. What is needed now is to take further action to realize the implementation of the findings and recommendations.”
Said John Perrottet, author of the report: “There is strong demand for finance in the Pacific tourism sector and an appetite among investors to increase exposures. What is missing is an effective mechanism for investors to participate in a way that manages risk. This initiative will directly meet that challenge.”
In this regard, PATA will now make available both stages of the report to members and/or other suitably qualified investment companies with an interest in the South Pacific. “Managing the full scope of the reports outcomes is not something which fits PATA’s mandate or area of responsibility,” said Flynn. “We would, however, want to remain involved in the on-going development of such a scheme to ensure the delivery of the fund is in line with the goals and strategies of both the individual Island Nations and the region as a whole.”
For those wishing to receive a copy of the report, please contact Chris Flynn on Pacific@pata.org or John Perrottet on firstname.lastname@example.org .