Australian Rugby League Commission Purchases Quest Woolooware Bay Hotel in Sydney

Quest Woolooware Bay, a newly built serviced apartment hotel located in Sydney’s Sutherland Shire has recently been purchased by the Australian Rugby League Commission (ARLC). The new property is set to open late November 2023, Quest Hotels will assume a lease and manage the hotel which features 40 apartments (71 keys), facilities include event spaces, business lounge and a gym. This new purchase represents the ARLC’s second major investment to acquire assets to provide new revenues for reinvestment into the game. ARLC has stated this transaction intends to strengthen its financial security and investments to provide steady income, long-term capital growth, strong yield and low risk, and protecting the game from major interruptions. Quest Woolooware Bay is located adjacent to the PointsBet Stadium and is a part of the AUD 1 billion Woolooware Bay Town Centre mixed-use development. The hotel’s location in the mixed-use development, and within proximity to Cronulla beach would service leisure, corporate, VFR and sports market segments.

Tuan Sing Holdings Exploring Move Into Hospitality

Tuan Sing Holdings plans to convert its existing Singapore headquarters at The Oxley as a hotel or serviced residence. The Oxley currently operates as Tuan Sing’s corporate headquarters and offers other offices and residences. The property developer is also considering turning its key asset Link@896 into a hotel or serviced residence, it is currently a 5-storey mixed-use commercial development with retail spaces & offices. The evaluation for the project at Link@896 is ongoing, subject to approval by local authorities, according to a recent corporate update from Tuan Sing. Tuan Sing further elaborates, that both properties present “potential value-creation opportunities”, with asset enhancement set to generate incremental recurring income. Currently, the Grand Hyatt Melbourne and Hyatt Regency Perth are the wo hospitality assets in Tuan Sing’s portfolio.

Lam Dong and Busan sign Tourism Development Agreement

A strategic partnership between Busan Tourism Organization and Tourism Association of Lam Dong– Da Lat has been formalized in a signing ceremony with representatives of both associations in attendance. The agreement seeks to boost tourism exchanges and advance the tourism industries of both countries. A new direct flight route this past month from Busan and Da Lat has spurred greater connections between the two cities. The partnership focuses on bi-directional tourism growth, collaborate in tourism marketing initiatives, setting favorable conditions for tourism businesses to open tours to Da Lat, and providing support in preparation of Busan’s International Exhibition in 2030.

Philippines’ Department Of Transportation Taps ADB To Fund Additional Transport Projects

The Philippines' Department of Transportation (DOTr) plans to secure funding from the Asian Development Bank (ADB) for several transportation infrastructure projects, aiming to boost economic growth and connectivity. There are nine agreements between DOTr and ADB totalling PHP1.2 trillion for projects covering aviation, railways, and roads. These projects include the North-South Commuter Railway, MRT-4, Davao Public Transport Modernization Project, and more. DOTr also seeks ADB's technical assistance. The goal is to position the Philippines as an investment hub and a gateway to Asia.

 

Hong Kong Airlines Resumes Flights to Kumamoto

Hong Kong Airlines has announced resumption of direct service to Kumamoto later this year, previously operating this route in 2016. This route will run three times weekly and marks the fifth destination launched this year. Kumamoto, located on the island of Kyushu, boasts natural landscapes and is a popular destination for nature enthusiasts. Kumamoto features volcanic landscapes at Mount Aso and hosts one of the world’s largest calderas, the volcanic activity provides for the island’s numerous hot springs. Kumamoto marks Hong Kong Airlines’ second destination in Kyushu, complementing the existing daily routes to Fukuoka. Hong Kong Airlines has been expanding routes throughout Japan with flights to seven destinations across the country. The airline has been adjusting flight frequencies to capture the growing travel demand for Japan.

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