Hotel industry and travel news from around the Asia Pacific region: Artotel adds 24 properties and 2,507 rooms into its' hotel portfolio, Megaworld Philippines and more...

Brisbane’s Mantra Terrace Hotel Sold to a Sydney-based Consortium
Singapore-based Well Smart Group (“WSG”) has sold Brisbane’s Mantra Terrace Hotel to a Sydney-based consortium consisting of Eduard Litver of Australia-based Capit.el Group Pty Limited, Paul Fischmann of Australia-based 8Hotels Boutique Hotels Co. (“8Hotels”) and investor Jonathan Hasson, for approximately AUD16 million (USD11.45 million). The 84-key serviced apartment is located on Astor Terrace, minutes away from the shopping area of the Queen Street Mall and the business epicentre of Eagle Street Financial District. The property has undergone a multi-million-dollar renovation across the guest rooms and public areas and re-opened in April 2021. This acquisition will be a full circle move for 8Hotels’ founder Paul Fishmann, who has sold the property to WSG in 2013. This reacquisition shows their confidence in the future of the Brisbane hotel market, amid the unprecedented infrastructure investment opportunity in Brisbane and the forecasted positive impact brought by the 2032 Olympic Game.

Artotel Group Acquires Dafam Hotel Management
Indonesia-based Artotel Group (“AG”) has acquired Indonesia-based Dafam Hotel Management (“DHM”). The acquisition adds 24 properties and 2,507 rooms into AG’s hotel portfolio. Earlier this year, AG has made another massive acquisition of 11 Kyriad Hotels by acquiring Kyriad Hotel Indonesia, the license holder of Kyriad Hotel Brand within Indonesia. Kyriad Hotel is a brand owned by France-based Louvre Hotels Group. With both acquisition, AG has more than tripled its hotel portfolio within a year, from managing 15 hotels to 50 hotels. The founder and Chief Executive Officer of AG, Erastus Radjimin, mentioned that both acquisitions are steps to create a unified hospitality ecosystem in Indonesia as well as broaden AG domestic and international market range. To support a robust hospitality eco-system, the group is also building a strategic alliance with Singapore-based Far East Hospitality (FEH).

IOI Properties Opens Second Phase of the Mixed-Use Development in Malaysia by June 2022
Malaysia-based IOI Properties Group Berhad is opening the second phase IOI City Mall (“ICM”) in Putrajaya’s IOI Resort City by June 2022. The MYR500 million (USD118.5 million) phase two expansion will bring an additional one million square feet of tenanted space to ICM, making it the largest entertainment-cum-shopping mall in Malaysia upon opening. A 40,000 square foot exhibition hall, a new cinema concept with an IMAX hall, a dining arcade and a rooftop sports centre and gymnasium will be also included in the phase two expansion project. The whole IOI Resort City currently consists of an 18-hole championship golf course, commercial buildings such as IOI Square and IOI City Towers, and three hotels: the 488-key Marriott Putrajaya, 353-key Le Méridien Putrajaya and 152-key Palm Garden Hotel.

Megaworld to Build Sustainable Hotel and Shopping District in Palawan, Philippines
Philipines based Megaworld Corporation (“Megaworld”) is developing sustainable boutique hotels and a shophouse district in its PHP 40 billion townships in San Vicente, Palawan. The 462-hectare Paragua Coastown, located in Kemdeng, is interconnected with its beachline, providing expansive sidewalks and bridges for convenient accessibility. The development will house the Mercato Shophouse District and Porto Hotel District, which is expected to offer 240 lots ranging from 250 to 599 square meters for shophouses, and 450 to 1,199 square meters for boutique hotels. The first area of Paragua Coastown in Kemdeng will feature mixed-use developments, medical and wellness facilities, a church, other leisure, and institutional amenities once completed. Megaworld will also develop other areas, including several town barangays and residential and recreational offerings that mostly have access to Long Beach. The company expects to generate around PHP 5 billion in sales from these projects.

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