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Geraldton Motor Inn Sold to CBH Group for AUD4 Million
Australia-based grain handler CBH Group (“CBH”) has bought the Geraldton Motor Inn for AUD4 million. The 60-key hotel features a bar, restaurant, and drive-through bottle shop that serves hotel guests as well as local residents. Located in south of the city centre of Geraldton, West Australia, the property is just 500 metres from the Tarcoola Beach. Half of the hotel will act as accommodation for tourists, while the other half would house the CBH’s staff and contractors. As part of the CBH’s Path to 2023 Strategy, the hotel was purchased in order to support the growing workforce required for their infrastructure projects in Western Australia.
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FAM Holding Launches the USD218 Million Maldives Resort Project
UAE-based FAM Holding PSC Group announced the launch of Al Mahra Maldives Resort, a luxurious hotel residential project. The project, which will receive investments of about USD217.8 million, is deemed one of the latest real estate development projects to be launched by the group and its first real estate expansion outside the UAE. The resort will be established on an island with an area of 100,000 square meters and will comprise of 150 hotel units and chalets, including 100 overwater villas. Each unit will also include a private swimming pool. In addition, there will also be 40 beach villas, including 10 which will be earmarked for VIPs as well as 3 restaurants, one spa, and gym. Building works are expected to complete in mid-2025.
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Developer Sterling Global Has Announced an AUD420 million Proposal for Melbourne’s CBD Site
Australia-based developer Sterling Global (“SG”) has submitted their hotel plans, to the Department of Transport and Planning, for its recently acquired Melbourne CBD site. The site currently houses three properties, most notably the former State Savings Bank that is currently operating as the 190-key Batman’s Hill on Collins Hotel. SG acquired the amalgamated site less than two months ago for AUD55 million, and is now proposing an AUD420 million project. It is planned that the 1,972 square metres site will house a 42-storey, mixed-use building that features 175 apartments, eight sub-penthouses, a 229-key hotel, and 2,735 square metres of commercial space on levels 13 to 16. The site is located across Southern Cross Station and is near numerous food establishments. Proposals for restoration of the existing building’s heritage façade, along with the engagement of an upper-scale lifestyle hotel operator are also in the way.
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Cairns Convention Centre to Open Next Month with AUD176 Million Expansion
The AUD176 million expansion project for Cairns Convention Centre (“CCC”) is completing in June 2023 and consists of a significant number of enhancements. Among the additions are a rooftop banquet area, three state-of-the-art meeting rooms and an exhibition and plenary lecture space, providing a total of 10,500 square meters of new floor space. This expansion enables CCC to hold conferences and exhibitions for up to 2,500 guests across the entire venue. In addition, the new Trinity Level is also a key part of the expansion, offering guests the natural views of two world heritage sites – the Wet Tropics Rainforest and the Great Barrier Reef. The Trinity Room is an ideal setting for gala dinners and large cocktail functions, can accommodate up to 500 people while the outdoor Trinity Terrace offers panoramic views of the Trinity Inlet, providing a unique backdrop for cocktail functions, lunches and other events seeking to embrace Cairns’ tropical climate.
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YOTEL To Open Their First Hotel in Thailand
UK-based YOTEL has announced the launch of their first hotel in Bangkok, Thailand. Set to open in 2025, the 250-key new-build hotel will have a multi-functional dining and co-working space, a 24-hour gym, a Grab-and-Go snack station, and two meeting hubs. Located within Cloud 11, an emerging tech-focused hub, the hotel will feature green, open spaces, as well as integrated technologies such as YOTEL’s signature robotic concierge. Guests can get panoramic views of Bang Krachao, the green lung of Bangkok, from Cloud 11’s 22nd floor Sky Bar. The hotel is conveniently located in proximity to shopping and food establishments, multi-purpose event halls, and an education institute. Guests would also have direct access to the BTS SkyTrain via a 300-meter skywalk, along with other transportation options to-and-from both international airports.
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Absolute Share Price Performance, as of 26 May 2023 | |
| Closing Share Price | 26 May 2023 | 19 May 2023 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.61 | 1.59 | 0.9%
| | Event Hospitality & Entertainment Ltd | 11.54 | 11.71 | -1.5%
| | General Property Group | 4.33 | 4.34 | -0.2%
| | Mirvac Group | 2.34 | 2.34 | 0.0%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 51.50 | 49.25 | 4.6%
| | Dusit Thani Public Co Ltd | 10.80 | 10.70 | 0.9%
| | The Erawan Group Public Co Ltd | 4.34 | 4.36 | -0.5%
| | Grande Asset Hotels & Property Public Co Ltd | 0.22 | 0.22 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 39.00 | 40.00 | -2.5%
| | Minor International Public Co Ltd | 34.00 | 32.50 | 4.6%
| | S Hotels and Resorts Public Company Limited | 3.36 | 3.30 | 1.8%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 8.74 | 8.83 | -1.0%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 4.15 | 4.26 | -2.6%
| | Guangzhou Lingnan Group Holdings Company Limited | 10.00 | 10.22 | -2.2%
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| Huazhu Group Limited | 37.94 | 41.62 | -8.8%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 11.60 | 11.52 | 0.7%
| | Regal Hotels International Holdings Ltd | 3.01 | 3.01 | 0.0%
| | Sino Hotels Holdings Ltd | 1.92 | 2.00 | -4.0%
| | The Hong Kong & Shanghai Hotels Ltd | 6.99 | 7.21 | -3.1%
| | Shangri-La Asia Limited | 6.38 | 6.65 | -4.1%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 431.00 | 429.80 | 0.3%
| | IHCL (Taj Hotels, Resorts & Palaces) | 383.90 | 372.35 | 3.1%
| | EIH (Oberoi Hotels & Resorts) | 205.50 | 205.25 | 0.1%
| | Hotel Leela Ventures | 11.65 | 11.00 | 5.9%
| | Lemon Tree Hotels Ltd | 95.25 | 94.85 | 0.4%
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| The Shilla | 80,700 | 82,500 | -2.2%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.34 | 0.35 | -1.4%
| | ARA Htrust (US$) | 0.34 | 0.34 | 0.0%
| | Ascott Residence Trust | 1.06 | 1.06 | 0.0%
| | Banyan Tree Holdings Limited | 0.35 | 0.35 | 0.0%
| | CDL Hospitality Trusts | 1.18 | 1.18 | 0.0%
| | Eagle Htrust | 0.14 | 0.14 | na
| | Far East Hospitality Trust | 0.63 | 0.61 | 3.3%
| | Frasers Hospitality Trust | 0.48 | 0.48 | 1.1%
| | Hotel Grand Central Ltd | 0.88 | 0.88 | 0.0%
| | Hotel Properties Ltd | 3.50 | 3.50 | 0.0%
| | Mandarin Oriental International Ltd (US$) | 1.72 | 1.76 | -2.3%
| | Stamford Land Corporation Ltd | 0.40 | 0.40 | -1.3%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 285.50 | 282.50 | 1.1%
| | The Ambassador Hotel, Ltd | 45.00 | 45.95 | -2.1%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 78,300 | 78,900 | -0.8%
| | Imperial Hotel, Ltd | 2,008 | 1,998 | 0.5%
| | Red Planet Japan Inc | 25 | 26 | -3.8%
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