Hotel industry and travel news from around the Asia Pacific region: Alliance Global Group agrees to infuse USD152M to Resorts World Manila and more...

HVS Hodges Ward Elliott advises on sale of Hotel Brooklyn in Manchester to CDL

HVS Hodges Ward Elliott acted for Roundapple Hotel Partners in arranging the sale of the long-leasehold interest in the 189-room Hotel Brooklyn in Manchester, to Singaporean REIT CDL Hospitality Trusts. Located in Manchester’s city centre, the newly constructed four-star lifestyle hotel was completed in early 2020, just before the onset of the Covid-19 pandemic. The property is operated by Bespoke Hotels, one of the UK’s largest independent hotel groups.

Junting Hotel to Acquire Narada Hotel and Jinglan Hotel for CNY140 million

China-based Junting Hotel (“JH”) announced that the company has signed the equity acquisition and trademark transfer agreement of Narada Hotel Group (“NHG”) which includes brand of Narada Resort & Spa, Narada Hotel and Jinglan Hotel. The acquisition price of 79% equity of both Narada Resort & Spa and Narada Hotel is CNY66 million while the acquisition price of 70% of Jinglan Hotel is CNY14 million. Additionally, the price of NHG “Junlan” trademarks is at CNY60 million, totaling the sum of the transaction to be CNY140 million. In response to concerns, JH announced that the acquisition of existing mature midscale to upscale hotel brands is part of JH strategic plan to rapidly increase its market share and brand influence within China.

Alliance Global Group Agrees to Infuse USD152 Million to Resorts World Manila

Philippines-based Alliance Global Group, Inc (“AGI”) has agreed to infuse USD152 million into its subsidiary Travellers International Hotel Group, Inc. (“Travellers”), a joint venture partnership between AGI and Hong Kong-based Genting Hong Kong Limited to operate Resorts World Manila (“RWM”). This infusion will help Travellers to increase its working capital and allow RWM’s gaming and hotel businesses to keep current with its obligation. The capital will further allow RWM to leverage business recovery opportunities with the easing of Covid-19 restrictions, as Metro Manila has reduced to the least restrictive ‘alert level 1’ from 1 March 2022. RWM has reported a gross gaming revenue of USD97.5 million in the third quarter of 2021, a 53% year-on-year and 46% quarter-on-quarter increase. 

The World’s First Fila-branded Hotel to open in Shanghai

China-based Anta Sports Products Limited's ("Anta") Italian sports apparel brand, FILA, has partnered with US-based Hyatt Hotels Corporation (“HHC”) to build the world’s first FILA branded hotel, “FILA HOUSE” in Shanghai. Fila House is expected to situate in Shanghai’s West Hongqiao Business District. The Fila House project will be part of Anta's new headquarters being constructed in the region. The headquarter complex will comprise five independent buildings, housing offices, shops, and restaurant outlets. Stated to open in 2024, Fila House Shanghai targets young millennials under the Hyatt brand recognition of “joie de vivre”. Anta owns several Chinese and international sports brands such as Descente, Kolon, and Fila Athletics. 

Greater Bay Airlines Granted Five Year License to Operate 104 Regional Routes

Hong Kong-based Greater Bay Airlines (“GBA”) had been given a five-year permit from the Air Transport Licensing Authority to operate commercial flights to 104 routes with immediate effect. The routes cover destinations in Asia-Pacific such as mainland China, Taiwan, Japan, South Korea. GBA will be the third airlines joining the commercial aviation market in Hong Kong, after the city’s flag carrier Cathay Pacific and Hong Kong Airlines. The government believes GBA could further strengthen the air transport connectivity between Hong Kong, and the Guangdong-Hong Kong-Macao Greater Bay Area, as well as other parts of the world.

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