Datapulse to Acquire Seoul Hotel for SGD42.7 Million

Singapore-based Datapulse Technology (“Datapulse”) has entered into a sales and purchase agreement with South Korea-based company, Hotel Prima Co (“Hotel Prima”), to acquire Hotel Aropa in Seoul for SGD42.7 million. Constructed in 2013 and refurbished in 2016, the 127-key midscale hotel is located near the Myeongdong district in central Seoul with convenient access to Seoul Plaza and multiple transport networks. The deal consists of a conditional real property sale and purchase agreement for 742 square metres of commercial freehold land and the building with a gross floor area of 5,785 square metres, as well as a conditional asset transfer agreement for the assets, licences, contracts and employees of the hotel. The acquisition is part of the group’s plan to expand their business and enhance shareholders’ returns. It is expected to be completed by March 14, 2019.

Artotel Group Secures Strategic Funding from Intudo for Expansion

Indonesia-based hospitality company, Artotel Group (“Artotel”) has announced the securement of strategic investment by sole investor, Indonesia-based venture capital firm Intudo Ventures (“Intudo”), for an undisclosed amount. With the raised capital, Artotel seeks to strengthen its existing position in Indonesia and expand its business offerings throughout Southeast Asia. Moving forward, Artotel is planning to develop new hotel brands and enhance brand differentiation by launching economic hotels such as BOBOTEL, alongside high-end residences including ARTOTEL Suite, ARTOTEL Casa, and ARTOTEL Villa. According to Artotel, it has a pipeline of over 50 properties under discussion for development in Southeast Asia. This consists of hotel, restaurant & bar, and beach club properties. 20 properties have been confirmed to be in operation by 2020 while 30 properties are in conceptualisation phase. Established in 2013, Artotel currently operates more than 1,000 hotel rooms featuring art-inspired designs under the brands of ARTOTEL and CURATED COLLECTIONS.

Radisson Debuts in Suzhou City of China

US-based Radisson Hotel Group (“Radisson”) recently announced the entry of its Radisson brand into the well-known cultural and historic city Suzhou, Jiangsu Province, China. Developed by China-based Suzhou Zheng He Investment Co., Ltd (“SZHI”), Radisson Suzhou forms part of a mixed-use development with an office tower. The stylish and contemporary new hotel is strategically located in Suzhou National Hi-Tech District, a 30 minutes’ drive from Wuxi Sunan Shuofang International Airport and approximately 90 minutes’ drive from Shanghai Hongqiao International Airport.  The hotel features 138 rooms and suites, with food and beverage outlets including an all-day dining restaurant, a Chinese restaurant and a lobby lounge. Other supporting facilities includes a 667 square metres flexible meeting space, a well-equipped 24-hour fitness center, free parking space and wireless network. As of end 2017, Radisson’s portfolio comprises of 1,423 hotels with 224,428 rooms globally.

Banyan Tree Announced 26 Hotel Signings

Singapore-based Banyan Tree Group (“Banyan Tree”) has recently announced 26 hotel agreements for its 4 brands. Scheduled to open within the next 3 years, the projects consist of 5 Banyan Tree, 10 Angsana, 2 Cassia, and 9 Dhawa hotels and resorts. Geographically, 17 of them will be located in Greater China, 2 in Oceania (Fiji and Palau), 5 in Southeast Asia (Cambodia, Indonesia, and Vietnam), and 2 in Europe (Austria and Spain). In addition, a dozen projects are expected to be initiated through the new partnership with France-based hotel group AccorHotels (“Accor”) and China-based property developer Vanke (“Vanke”), which have become minority investors of Banyan Tree Holdings as well as strategic partners since 2017. Founded in 1994, Banyan Tree boasts a portfolio of 48 hotels in 25 countries and plans to open 7 new hotels in 2019.

INNSIDE By Meliá to Debut in Kuala Lumpur, Malaysia

Spain-based hotel chain Meliá Hotels International (“Meliá”), has signed its first INNSIDE By Meliá hotel in Kuala Lumpur, Malaysia. The property will be part of an integrated development project known as Eko Cheras, boasting a 4-storey shopping mall development counting 288 units of retails and 105 units of office suites. The 238-key INNSIDE Kuala Lumpur Cheras is next to the train station and an hour drive from Kuala Lumpur International Airport. Slated to open in late 2019, the hotel will be 13 floors high, featuring an executive lounge on the rooftop, meeting facilities, a fitness centre and a swimming pool. Meliá currently operates 19 properties in Asia and plans an additional 33 properties by 2022. With Meliá Kuala Lumpur hotel and another three properties in the pipeline, INNSIDE Kuala Lumpur Cheras will be Meliá’s fifth property in Malaysia.

Absolute Share Price Performance, as on 21 December 2018