Pent-up demand for travel will trump the rising cost of living as the tourism recovery ramps up into Easter, says the new American owner of The Ghan train service and other Australian travel attractions.

Chicago-based Hornblower Group will soon close a $600 million buyout of the Quadrant Private Equity-owned Journey Beyond, which also operates other luxury rail expeditions and attractions targeted at holidaying families and “grey nomad” retirees. But Hornblower chief Kevin Rabbitt waved away any suggestion that inflation would suppress demand from these markets.