Hotel industry and travel news from around the Asia Pacific region: Ascott Reit has acquired prime site in Singapore to build the first co-living property, Tourism Australia and China Southern Airlines sign MoU and more...

Ascott Residence Trust Acquires SGD62.4 Million Greenfield Site for its First Development Project

Singapore-based Ascott Residence Trust (“Ascott Reit”) has acquired a 60-year leasehold, prime greenfield site for SGD62.4 million from Singapore-based JTC Corporation (“JTC”) to build the first co-living property in one-north, Singapore’s research and innovation business hub. The site is located within a 200-hectare estate which has attracted over SGD7 billion worth of investments in critical growth sectors such as the biomedical, info-communications and media industries. It is also a talent development hub and home to world-renowned business institutes, 400 companies and 800 startups. The property is expected to be managed by Singapore-based The Ascott Limited (“Ascott”), under the co-living brand, lyf, targeted at the rising millennial segment. Slated to achieve temporary occupation permit by 2020 and open in 2021, lyf one-north Singapore will feature a total of 324 units mixed between studio and loft configurations. The gross floor area (GFA) of 6,824 square metres will also include communal spaces such as a lap pool, social kitchen, fitness area, barbeque garden, outdoor seating area, residents’ lounge, laundromat, thematic function rooms and indoor events hall. Representing Ascott Reit’s first development project, lyf one-north Singapore will be its third lyf property in Singapore.

Novotel Twin Water Resort Sold for AUD88.5 million to Shakespeare Property Group

Australian-based closed-end fund Abacus Property Group (“Abacus”) has sold the 361-key Novotel Twin Water Resort to Melbourne-based asset trader Shakespeare Property Group (“Shakespeare”) for AUD88.5 million. Located on Queensland’ Sunshine Coast, the low-rise resort features extensive conference facilities with capacity of up to 1,400 pax and four dining outlets. Over a billion dollars’ worth of infrastructure projects have been approved on the Sunshine Coast. These include the upgrading of Bruce Highway, expansion of the Sunshine Coast Airport into an international airport in 2020 and two new five-star hotel projects. After the acquisition of the Pullman Cairns International and the Novotel Oasis Resort Cairns in 2015 and 2016, respectively, the Novotel Twin Water Resort represents Shakespeare’s fifth major hotel acquisition, bringing their total room stock to more than 1,200 rooms. The hotel was Abacus’ last remaining asset after unit holders voted for a sell-down of assets three years ago.

M&L Hospitality Opens First Hotel in Manchester, United Kingdom

Singapore-based hotel investment firm, M&L Hospitality (“M&L”), has recently opened its first 19-storey hotel development, The Lume, in Manchester, bringing its UK portfolio to five hotels. Located a district south of Manchester’s city centre, the 328-key hotel is a dual-branded hotel development that forms part of the University of Manchester’s Campus Masterplan. The Lume boasts two different brands under UK-based hospitality company, Intercontinental Hotels Group (“IHG”). Occupying the upper seven floors, a 116-key Staybridge Suites offers a mix of modern studio and one-bedroom suites with panoramic views of the city from the 18th floor terrace. The extended-stay property features fully-equipped kitchens, a complimentary laundry facility and a fitness centre. On the lower 12-storeys, a 212-key Crowne Plaza offers a restaurant, a bar, a fully equipped fitness centre, a club lounge and eight state-of-the-art meeting rooms catering for more than 200 delegates. With the addition of The Lume, M&L Hospitality expands its global portfolio to include 17 hotels across seven countries including Australia, Belgium, Czech Republic, New Zealand, Netherlands, Singapore and the UK.

The Capitol Kempinski Hotel Singapore Set to Open on 1st October 2018

Switzerland-based Kempinski Hotels (“Kempinski”) will open its first Singapore property, The Capitol Kempinski Hotel Singapore, on October 1st. Located in Capitol Singapore, an integrated luxury lifestyle development in Central Singapore, the 157-key property is set to feature guestrooms and suites spanning eight room categories and almost 50 unique room configurations. The hotel will also have a lobby lounge, an outdoor saltwater relaxation pool, a fitness centre, a spa, an exclusive event spaces for up to 220 guests, as well as a bespoke bar and a signature restaurant helmed by a Michelin-starred chef. The hotel will present more food and beverage offerings at the adjacent Capitol Piazza in the months to come. Kempinski manages a portfolio of 75 five-star hotels and residences in 33 countries, of which five are located in the Asia pacific region.

Tourism Australia and China Southern Airlines Sign MoU to Encourage Business Event Travel

Tourism Australia (“Tourism Australia”) and China Southern Airlines (“China Southern”) have signed a three-year Memorandum of Understanding (MoU) to develop the Chinese business event travel sector through marketing campaigns and promotional activities targeting Chinese MICE agents as well as corporate buyers. This is the first such agreement signed between the two organisations. China became Australia’s largest source of visitors in 2018. In the year ending March 2018, there were 100,000 business event visitors to Australia from China, an increase of 11%; with a total spend of AUD586 million, up 12% during the same period in 2017. The agreement complements other efforts by Tourism Australia such as the Business Events Australia Greater China Showcase that will be held this coming November and the Business Events Bid Fund Programme, a AUD12 million investment over the next three financial years which provides financial support at the critical bidding stage to secure new and qualified international business events to Australia. Currently, China Southern has about 50 direct flights to Australia weekly and the MoU is expected to offer new opportunities for the airline to expand its operations.

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