Investment Potential "Impressive"
p. 55 · Read in the full issue
From a Port Moresby Correspondent According to a representative of a big Australian hotel chain — Federal Hotels Ltd.—there is a growing interest among investors in Papua-New Guinea.
representative, Mr. John Spooner, the company’s pro motion manager, made a 10-day visit to the Territory in November to in vestigate possibility of long-term in vestment in P-NG hotels. Federal Hotels already has a hotel in Hobart, three in Melbourne, one in Sydney
with another being built, and three in Queensland.
Mr. Spooner said he was “most impressed” by the investment potential of the Territory. North American tourists would be the most profitable market for NG, but everything would depend on having high hotel standards to attract them.