The 60-key Awashima Hotel in Numazu, Japan is set to be acquired by Hong Kong-based SIS International Holdings Limited for JPY800 million, roughly translating to JPY13 million per key. Situated on a piece of leasehold land, the Awashima Hotel is set on a private island in Suruga Bay and is two-kilometre from Mito Beach and five-kilometre from Izunokuni Panorama Park. The property includes three restaurants, open-air public bath with natural hot spring water, concert hall, wine cellar and conference facilities.

 

Australia-based GDI Property Group Limited, Australia-based GDI Property Trust, and Australia-based Tulla Group have entered into a call option to acquire the South Hedland Motel (“SHM”) and its accompanying Lodge Motel (“LM”) for AUD27 million. Located in the heart of South Hedland, West Australia, the two properties are only 10 minutes away from the Port Hedland International Airport. SHM comprises approximately 107 rooms, and the LM 135 rooms, with the ability to add up to another 40 rooms at the SHM site. The two properties feature one food and beverage outlet, an outdoor swimming pool, and several function rooms. Over the last 15 years, both motels have generated an average EBITDA of approximately AUD6.7 million, with 2022 reported EBITDA of AUD9.7 million.

 

Hong Kong and Macau is planning to distribute free air tickets this year through a partnership with airlines, in the hopes of accelerating tourism. Hong Kong will give away 500,000 tickets as part of the HKD2 billion ‘Hello Hong Kong Campaign’; while Macau will distribute 120,000 tickets to promote the region. The two Special Administrative Regions have also included additional activities and schemes such as cash vouchers, shopping discounts, and hotel accommodation offers. Hong Kong aims to lure more than 1.5million visitors to Hong Kong through this campaign between March and September this year.

 

Makris Group Plans to Redevelop Mirage Marina Shopping Centre into a Mixed-use Development

Australia-based Makris Group has submitted plan to redevelop Gold Coast’s Mirage Marina shopping centre into a mixed-use development that includes a 110-key boutique hotel, retail, and 90 luxury apartments for AUD500 million. The site is located next to the 295-key Sheraton Grand Mirage Resort Gold Coast and 200-key Palazzo Versace. The Makris Group acquired the shopping centre in 2013 for AUD52 million, and they have already developed a 76-berth marina for super yachts up to 85 metres in size and the HOPO ferry terminal. The entire redevelopment plan is deemed to start in first quarter of 2024 with completion in 2026.

 

Singapore’s Parc Sovereign Hotel – Tyrwhitt Rebranded as Mercure

Singapore’s former Parc Sovereign Hotel – Tyrwhitt has rebranded as Mercure Singapore Tyrwhitt. Situated on Tyrwhitt Road, the property is just minutes away from the Bendemeer and Lavender MRT station. The 270-key rebranded property is designed to reflect industrial workshops of the 1950s, and features two food and beverage outlets, a rooftop swimming pool, a wading pool, a fitness centre, a meeting room, and a car park. This is the third Mercure hotel in Singapore, as well as Accor’s 28th Property in Singapore.

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