Pentagon Group Hotels Acquired Victoria’s Silverwater Resort for AUD25 Million

Pentagon Group Hotels, the hospitality arm of Australia-based boutique investment and project management firm, Pentagon Group, has acquired the Silverwater Resort in Victoria, Australia, for an estimated AUD25 million. The acquisition comprises of the ownership to 88 of the resort’s 186 freehold apartments, and the business operations and management rights of 172 keys in the resort from the vendor, Australia-based fund manager IDA Property Group Private Limited (“IDA Property”). The property occupies 8.5 hectares of land on the San Remo coastline with a planning permit to add another 32 keys. The resort is approximately an hour’s drive from Melbourne, overlooking the Western Port Bay to Phillip Island, a popular tourist attraction. The large integrated leisure and conference resort has six meeting spaces with capacity for 500 people, restaurants and bars, heated indoor and outdoor swimming pools, sports courts and a children’s playground. The group has also sealed an AUD30 million deal in June 2019 to acquire a Tasmanian pub portfolio from Australia-based EBC Hotel & Leisure Fund that included Launceston’s 62-key Old Tudor Hotel, the 54-key Bayside Inn in St Helens and Hobart’s 16-key Foreshore Tavern.

Maison Privee Inks Partnership Deal with Archipelago International

Dubai-based holiday home operator, Maison Privee, has announced a new long-term partnership with Indonesia-based hotel firm, Archipelago International (“Archipelago”), to launch a new hospitality brand in the United Arab Emirates (“UAE”). The licence agreement will see Archipelago enter the UAE market with the upscale brand, 'Maison Privee powered by Aston'. The deal, which involves integrating Maison Privee onto Archipelago's hotel platform, will give Maison Privee access to Archipelago's scaling expertise, distribution, marketing and corporate infrastructure in Southeast Asia. Currently, Archipelago operates Indonesia's largest portfolio of more than 150 hotels with an additional 100 new properties under development across southeast Asia, the Caribbean, and the Middle East. Maison Privee has a portfolio of more than 200 apartments, penthouses and villas across Dubai, and offers 'home away from home' experiences.

Mantra Chatswood Sydney Undergoes Multi-Million Dollar Makeover

The 144-key Mantra Chatswood Sydney has received a multi-million dollar refurbishment which features a new interior design for the hotel. All the guest rooms have been rejuvenated with a modern and homely Scandinavian design. The property’s studio and one- and two-bedroom apartments now boast new colours, upholstered bedheads, textured cushion, stylish new window furnishings and a refreshed look for the gourmet kitchen. The hotel's multifunctional public spaces have also received a makeover and are filled with new detailing, which seamlessly connects with its onsite hotel restaurant, Melting Pot Bar & Bistro. The property is situated in the bustling district of Chatswood north of the Sydney Central Business District, within walking distance to Chatswood Station and Westfield Chatswood. The property is popular amongst leisure and business travellers and features an indoor heated lap pool, spa and modern conference facilities.

Satyadeo Hospitality Announces Acquisition of Golden Tulip

India-based Satyadeo Hospitality Private Limited (“Satyadeo Hospitality”) has announced the acquisition of the 73-key Golden Tulip, an upscale hotel in Bengaluru, the capital of India’s southern Karnataka state, from India-based Ekram Hotels Private Limited. The company has also signed a revenue share lease agreement with India-based Bloom Hotel Group for their upscale format Bloom suites. The hotel will be rebranded as Hotel Bloom Suites in Bengaluru within the next three months. The property occupies 85,000 square-feet of land opposite Wipro Gate number 5, Electronic City Phase 1. Satyadeo Hospitality owns multiple hotels, primarily within North India in states including Himachal Pradesh, Uttarakhand and Delhi NCR. This deal marks the company’s foray into the South Indian hotel market.

China’s Tourism Revenue Records RMB6.63 Trillion in 2019

According to the latest statistics released by China Tourism Academy (“CTA”), domestic visitor arrivals reached approximately 6 billion in 2019, representing a year-on-year (y-o-y) increase of 8.4%. The total number of inbound and outbound travellers grew by 3.1% y-o-y to 300 million, including 145 million inbound travellers and 155 million outbound travellers, representing an increase of 2.9% and 3.3% y-o-y, respectively. The total tourism revenue in 2019 amounts to RMB6.63 trillion, an increase of 11% y-o-y over the same time period last year. Out of the RMB6.63 trillion, international tourism revenue has increased by 3.3% y-o-y to USD131.3 billion. The tourism sector has made an overall contribution of RMB10.94 trillion to the country’s GDP, which accounted for 11.05% of the total GDP. In addition, approximately 80 million direct and indirect job opportunities were created by the industry, representing 10.31% of the total employment across the country.

Absolute Share Price Performance, as on 13 March 2020