Karen Wales appointed Head of Hotels for Colliers Australia amidst tourism rebound

Market leader in hotel real estate services Colliers, puts its best foot forward as tourism recovers and the hotel market concludes its expansionary phase, with the appointment of Karen Wales to Head of Hotels Australia.

A hotel and tourism investment specialist with more than 20 years of experience in the hotel industry, Karen has a specialised knowledge of the Asia Pacific hotel investment market and an ability to drive fresh capital into Australia’s hotel markets.

“Investors continue to be drawn to the sector, as Australians have shown an appetite and willingness to spend up on travel and tourism.” Ms Wales said.

“While travel bounced back strongly in 2022, driven by pent-up demand and the lifting of restrictions, Australia’s large domestic tourism base has underpinned recovery of the sector, which is projected to reach pre-pandemic levels in 2023.

“Investors are also attracted to hotels as an inflation hedge, which have the ability to pass on rising costs immediately with dynamic pricing models and a greater reliance on technology which is resulting in a nimbleness that Australian hotels – and indeed their owners – have long pursued.

“We expect a rebound in offshore capital investment in the Australian hotel market next year, which will occupy a favourable position amidst greater volatility overseas.”

In addition to Karen’s previous position as National Director of Hotels Transactions Services for Colliers for the past six years, Karen’s strategic hotel investment advice, market analysis and forecasting is informed by previous roles including Senior Investment Specialist for Tourism Infrastructure at Austrade and Executive Vice President of Research and consulting for JLL.

Academic rigour and attention to detail enhance Karen’s strategic investment advice, honed by achievement of a Masters of Business Administration (MBA) from the University of New South Wales in 2008.

Karen will continue to be based in Sydney as Head of Hotels Australia and will report to Colliers’ Managing Director of Capital Markets and Investment Services John Marasco.

“We are excited to have Karen lead Colliers’ hotel transaction services nationally – an organic step for someone renowned industry-wide for their expertise in hotel and tourism investment, with prior roles across real estate, government, advisory, finance and operations in Australia and the United Kingdom.” Mr Marasco said.

“Karen is considered invaluable by our clients, and is highly sought after as a trusted strategic advisor.”

“I am thrilled to head up Colliers’ Australian hotels transaction services, expanding my remit at a time when Australia’s hotel sector and tourism brand is evolving post pandemic.” Ms Wales added.

“Working with ‘best in class’ professionals who comprise Colliers’ outstanding team of property experts has been a privilege these past six years, and it will be a career highlight seeing what we can achieve at this point in the hotel market’s growth trajectory.

“Australia’s hotel and tourism industry is evolving with new trends that have emerged post-Covid, including an emphasis on sustainability, new standards of luxury in city hotels, and the increasing growth of regional tourism.

“Hotel chains are also introducing new brands to fine-tune their offerings to more discerning guests, and the intersection of hospitality-like concepts like co-living, branded residential and serviced apartments is also expected to continue, further blurring product lines.

“This is where Colliers can offer an advantage with a broad base of knowledge across complementary uses, which is of benefit to owners.

“It is also exciting to see lifestyle hotels start to make their mark in Australia and the wellness segment experiencing exponential growth.”