High-Powered Consortium Offload Melbourne hotel amid Legal Tussles

The consortium behind the Hotel Continental development in Sorrento on the Mornington Peninsula has sold a nearly new hotel in West Melbourne amid a legal tussle with its former operator, Australia-based TFE Hotels ("TFE"). The consortium comprises developer Trenerry Property, Victor Smorgon Group, and the Kanat Family. The hotel is part of its completed AUD340 million West End development with 99 rooms, having hoped to sell for about AUD35 million and up to AUD45 million. The buyer was a Tasmanian-based investor who plans to continue to operate it as a hotel after purchase. Trenerry can confirm that the property has sold and has commenced Supreme Court proceedings against TFE for wrongful termination of the lease.

Les' Copaque Production Sdn Bhd to Build Upin and Ipin Theme Park by 2024 to 2025

Malaysia-based Les’ Copaque Production Sdn Bhd (“LCPSB”) has signed a memorandum of understand with Malaysia-based Cyberview Sdn Bhd to explore the potential of building a Upin and Ipin Theme Park, which will be named as ‘Kampung Durian Runtuh’. The concept was chosen because it represent local culture and has gain massive popularity within south-east Asia. The new theme park will be located in the south of Johor Bahru, serving as a new attraction for neighbour countries, such as, Malaysia, Singapore, Indonesia and Brunei. Les’ Copaque’s head honcho, Burhanuddin Md Radzi, mentioned that Johor Bahru will be an ideal location as it is equipped with an international airport for foreigners. The development is expected to start in early 2023 and complete by 2024 to 2025. The estimated cost of the development is between MYR700 million to MYR1 billion.

Central Pattana to Invest THB10 Billion in 37 Hotel Projects

Thailand-based Central Pattana Public Company Limited (“CPN”) has announced a THB10 billion hotel development project for 37 hotels in 27 provinces of Thailand. All 37 properties will be managed by the Centara Hotels and Resorts, which will eventually create 3,900 hospitality jobs. The President and Chief Executive, Wallaya Chirathivat, mentioned that this five-year investment plan for its hotel business ending in 2026 will strengthen its retail-led mixed-use developments as hotels will be a key part of future CPN projects. CPN estimated that the hotel development projects will add another 4,000 rooms to its current portfolio. CPN’s current two hotels includes 304-key Hilton Pattaya and 259-key Centara Hotel & Convention Centre Udon Thani.

Quarantine-Free Travel for all Visitors to South Korea starting 8 June 2022

On 3 June 2022, South Korea Central Disease Control Headquarters announced that all international travelers to South Korea are no longer required to quarantine regardless of their vaccination status starting from 8 June 2022. The quarantine exemption also applies to travelers who entered the country before 8 June and are currently in quarantine. A negative COVID test result from either a PCR or Rapid Antigen Test and an additional COVID-19 PCR testing upon arrival will still be in effect to ensure whether it’s a safe traveler with a negative result. If travelers do not have a negative test result or lack accurate information, the passengers will not be able to board their flight. The travelers with a positive COVID-19 test after arrival will still be obliged to quarantine.

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