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Invest In Hotels And Resorts: Hexagon Group President Seeto

  Look for long term not short term, a tourism industry leader has urged hotel and resort investors. “Tourism industry is going well. We are experiencing some reduction in numbers
22 Apr 2017 11:00
Invest In Hotels And Resorts: Hexagon Group President Seeto
Group managing director Dixon Seeto

 

Look for long term not short term, a tourism industry leader has urged hotel and resort investors.

“Tourism industry is going well. We are experiencing some reduction in numbers slightly, but this is a low season and we need to just look at the long-term trend and not just work on short term results,’ said Hexagon Hotel Group managing director and president of the Fijian Hotels and Tourism Association, Dixon Seeto.

The Hexagon Group of Hotels had hosted an expression of interest cocktail in Suva on Thursday night at its Suva Motor Inn for local investors to take advantage of the ground price offered for the upcoming Yadua Bay Resort & Villas.

The Coral Coast resort is expected to open by October 2017.

“If we felt the industry was not going anywhere, we would not be investing all these money and we are also not only investing money in building this resort but we are also investing money in upgrading our existing hotels: Suva, Hexagon International and Grand West Villas,” said Mr Seeto.

He said the Hexagon Group was investing a lot of money in upgrading their hotels and making sure that the standard was what the customers expected. Especially with modern facilities.

“Things wear-out, get outdated and so we are always spending money. We are trying to keep up with the competition in the region and the world for tourism,” Mr Seeto said.

The Hexagon Group of Hotels hopes that the Government will continue its support for the tourism industry by giving incentives for developments like the Yadua Bay Resort & Villas that is an integrated resort development.

“There are tax benefits for investors and we would like to see that the Government maintain these incentives for new and existing hotels so that we could expand the inventory and build more hotels and to make sure that the standard of the hotels is at a level that is competitive to the rest of the world,” said Mr Seeto.

The Yadua Bay Resort & Spa is expected to employ about 100 people.

Many of the investors that the Hexagon Group has spoken to have said they were interested in investing but not staying at the resort for long.

“All these plans have one unit but you would at least want one back,” he said.

“Therefore, we will have the use of the inventory for much of the year and it increases their potential for return.”

EDITED BY: IVAMERE NATARO

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