Sydney’s Sir Stamford Hotel was Acquired for AUD210 Million

US-based JDH Capital has acquired Sydney’s Sir Stamford at Circular Quay Hotel from Singapore-based Stamford Land Corporation Ltd (“Stamford”) for AUD210 million. The 10-storey hotel, which is located next to the Sydney Opera House and Royal Botanical Gardens, features 105 guest rooms including 15 suites, two food and beverage outlets, one meeting room, an outdoor heated pool and sundeck, a fitness centre, and a sauna. JDH Capital will redevelop the site into a luxury residential project, capitalising on the Macquarie Street location and the views. Stamford will now and operate five hotels in Australia and one in New Zealand after this divestment. 

UDA Holdings Bhd has Acquired a Hotel in Bukit Bintang City Centre Development for MYR295 million

Malaysia-based UDA Holdings Bhd (“UDA”) has acquired a hotel building within the Bukit Bintang City Centre (“BBCC”) development in Kuala Lumpur for MYR295 million. The hotel component of BBCC is expected to be completed and handed over to UDA by second half of 2024. The 450-key property will feature one-, two- and three-bedroom apartments. The hotel is situated above the entertainment hub of BBCC, providing easy access to the Zepp concert hall, Golden Screen Cinemas and Grand Bazaar. The Chairman of UDA, Datuk Norliza Abdul Rahim, mentioned that this transaction will boost UDA’s hospitality business, AnCasa Hotels and Resort.

Habitat Hotels and Apartments has Acquired Hotel DeBrett in Central Auckland

New Zealand-based Habitat Hotels and Apartments (“HHA”) have announced the purchase of Hotel DeBrett Auckland at an undisclosed sum. Situated on High Street, the 25-key hotel is in close proximity to Britomart, lower Queen Street, and the city waterfront. The property was constructed almost two centuries ago and was opened as the first hotel in Auckland. The historical building currently delivers an exceptional boutique guest experience in an art deco environment. It features three food and beverage outlets, and four meeting spaces. This property is the first property in the HHA portfolio.

Singapore is Resuming the Construction Work of Changi Airport’s Terminal 5

Singapore is resuming Changi Airport’s terminal 5 construction work, after a two-year pause due to the COVID-19 pandemic. The terminal 5 will be located within the 1,080 hectares Changi East development, and construction is expected to start in about two years for the terminal to be operational in the mid-2030s. After completion, terminal 5 of Changi Airport will be serving 50 million passengers a year, more than terminal 1 and terminal 3 put together. The new terminal will also be greener and more energy-efficient, with autonomous vehicles and robotics to support cargo transport and baggage handling. The Changi East Urban District will be developed next the terminal 5, creating more jobs and opportunities for Singaporeans.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

Related