Redcape Hotel Acquires Vauxhall Inn Hotel in Sydney

Australia-based Redcape Hotel Group (“Redcape”) has completed the acquisition of the freehold Vauxhall Inn Hotel in Sydney’s Western Suburb of Granville for over A$40 million. The hotel was sold by Sydney-based fund Bondi Asset Management (“BAM”), who purchased the property in January 2016 for an estimated A$28 million. Straddling both the Hume Highway and Parramatta Road, the property spans over 3,510 square metres and the immediate area is also part of the NSW government’s Parramatta Road Corridor Urban Transformation Strategy. Established in the 1850s and rebuilt in the 1930s, the heritage-listed Vauxhall Inn Hotel is a two-storey property that features a ground level public bar, internal and external 30-machine gaming room, a bistro, external TAB and 60 car parking spaces. The upper level of the hotel comprises an office and unused accommodation rooms. The hotel has recently undergone a renovation by the vendors. This transaction follows Redcape’s acquisition of Townsville’s Rising Sun Hotel for A$22 million in June 2018.

Singapore to Open New Passenger Terminal at Seletar Airport by End of 2018

New passenger terminal at Singapore’s 160-hectare secondary civilian airport, Seletar Airport, will commence operation in December 2018. Housed within a new two-storey, 10,000 square metres building, the S$80 million (US$58.6 million) new terminal will have the capacity to handle 700,000 passenger movements annually. Six times the size of the existing terminal, it will feature a central courtyard, three adjacent aircraft parking stands for passengers to board conveniently, an enlarged departure and arrival area for scheduled commercial flights as well as a dedicated business aviation centre for passengers travelling on chartered business flights and private jets. 20 daily turboprops flight operated by Firefly will be moved to Seletar airport to free up capacity and optimise aircraft movements in Changi. Currently, Seletar Airport caters to business and general aviation users such as international aircraft charters, private flights and houses more than 60 aircraft maintenance, repair and overhaul firms. Upon completion, it will be managed by Singapore-based Changi Airport Group (“CAG”), which also operates Singapore’s primary international airport. The new terminal is unlikely to affect Changi airport, with its capacity only one per cent of the 62 million passenger arrivals recorded at the international airport in 2017. Going forward, Changi airport plans to open a Terminal 5 building in 2030. 

Anantara to Debut in Chengdu, China

Thailand-based Anantara Hotels, Resorts & Spas (“Anantara”) recently announced that it would open its first Anantara property, namely Anatara Jinsha Chengdu Hotel, in Chengdu City of Sichuan Proince, China. Strategically located in Qingyang District of Chengdu, the hotel, a component of the Jinsha City Development, is about 20 minutes’ drive from the city center, 40 minutes’ drive from Chengdu Shuangliu International Airport, and 20 minutes’ drive, 30 minutes’ drive and 50 minutes’ drive from Chengdu West Railway Station, Chengdu North Railway Station and Chengdu South Railway Station, respectively. The hotel will feature 150 guestrooms and suites as well as complete meeting and banqueting facilities. Food and beverage outlets at Anatara Jinsha Chengdu Hotel include an all-day dining restaurant, a specialty restaurant, a lobby lounge and a bar. In addition, the hotel offers a Spa, a fitness center, indoor and outdoor swimming pools, a children’s activity center and other diversified leisure and entertainment facilities for different clients. The hotel is scheduled to open in 2021.

Cape & Kantary Debuts in Koh Samui

Thailand-based Cape & Kantary Hotels (“Cape & Kantary”) have announced 15 August 2018 as the opening date for their latest property, Cape Fahn. Located on a private island off the northeast coast of Koh Samui, Cape Fahn will offer rates between THB 20,000 and THB 117,000 for their all villa property. The property will be home to 22 pool villas, varying between one and two bedrooms with sizes ranging from 220 square metres to 570 square metres. Dining options include two restaurants and a wide array of activities including water sports, cooking classes, and day trips will be available for guests. Poomiphat Navanukroh, group director for travel expects that 90% of the resorts guests comprise of overseas guest, primarily from Germany, The UK, Australia, China and South Korea. Despite the higher than average room rate, Mr Navanukroh believes the property will achieve an occupancy rate of 80% for 2018 and 85% for 2019, as a result of continued growth in the numbers of visitors to Koh Samui. Cape Fahn will aim to compete with established international operators in Koh Samui, namely, Four Seasons, Six Senses, and Ritz Carlton. 

Absolute Share Price Performance, as on 13 July 2018