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TPGAG and Kenedix to Purchase Grand Nikko Tokyo Daiba in Japan for JPY106 Billion
US-based TPG Angela Gordon (“TPGAG”) is partnering with Japan-based Kenedix in a joint venture to purchase the 882-key Grand Nikko Tokyo Daiba hotel from Japan-based Hulic Co., Limited for JPY106 billion. This translates to approximately JPY129 million per key. This acquisition represents one of the Asia Pacific region’s largest hospitality investments of the year. Situated on a 20,870.35 square metre site directly connected to the Daiba station in Tokyo Bay area, the 29-storey property offers six dining venues, a fitness centre, a spa and event spaces. The hotel is well-positioned for growth, as East Japan Railway Company plans to extend its transit line to Haneda airport in the coming years, which could boost connectivity and visitor traffic. Additionally, its proximity to Tokyo’s cruise terminal and Disney’s expansion of its cruise business in Japan may further enhance its appeal to tourists.
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Ichigo Hotel to Sell Valie Hotel Hiroshima in Japan for JPY1.785 Billion
Japan-based Ichigo Hotel REIT Investment Corporation (“Ichigo Hotel”) has announced the sale of 171-key Valie Hotel Hiroshima in Japan to a third-party Japanese company for JPY1.785 billion. This translates to approximately JPY10.44 million per key. Situated on a land of 1,090.97 square metres, the freehold property is conveniently located just a 15-minute walk from JR Hiroshima Station and a 3-minute walk from Jogakuin-Mae Station on the Hiroshima Electric Railway. The property has an annual minimum guaranteed rent of approximately JPY66 million for its leasable area of 4,332.5 square metres. The sale is expected to yield a gain of JPY230 million for Ichigo Hotel.
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EVT Sold Rydges Hobart in Tasmania, Australia
Australia-based EVT Limited (“EVT”) has sold the 64-key Rydges Hobart in Tasmania, Australia to a Singapore-based investor for an undisclosed sum. The acquisition includes a large vacant building, originally a broom factory, suitable for adaptive reuse or redevelopment. Despite the change in ownership, EVT will continue managing the property under a hotel management agreement. Located two kilometers from the Hobart Central Business District, the recently refurbished property sits on a 11,860 square-metre site next to a sports venue, North Hobart Oval. The facilities include a manager’s residence, a restaurant and bar, a swimming pool, meeting rooms, and a gym.
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Roma Explorers Inn Sold in Queensland, Australia
The 89-key Roma Explorers Inn in Queensland, Australia has been acquired by a syndicate led by Judy and Damien Kennedy, previous owners of the 57-key Longreach Motor Inn and the 44-key Saltbush Retreat, in Longreach, western Queensland for an undisclosed sum. This freehold property offers various amenities, including a kids’ playroom, undercover parking, a restaurant with seating for 150 and meeting spaces capable of accommodating up to 400 guests. Situated on the Warrego Highway, the hotel is about a six-hour drive northwest of Brisbane, making it a strategic stop for travelers and a valuable asset in the region.
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Absolute Share Price Performance, as of 1 November 2024 | |
| Closing Share Price | 1 November 2024 | 25 October 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 10.95 | 10.99 | -0.4%
| | General Property Group | 4.68 | 4.83 | -3.1%
| | Mirvac Group | 2.15 | 2.21 | -2.7%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 36.00 | 35.25 | 2.1%
| | Dusit Thani Public Co Ltd | 10.90 | 11.20 | -2.7%
| | The Erawan Group Public Co Ltd | 4.10 | 3.86 | 6.2%
| | Grande Asset Hotels & Property Public Co Ltd | 0.11 | 0.10 | 10.0%
| | Laguna Resorts & Hotel Public Co Ltd | 38.50 | 38.25 | 0.7%
| | Minor International Public Co Ltd | 27.00 | 27.25 | -0.9%
| | S Hotels and Resorts Public Company Limited | 2.22 | 2.28 | -2.6%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.79 | 6.75 | 0.6%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.47 | 3.29 | 5.5%
| | Guangzhou Lingnan Group Holdings Company Limited | 10.29 | 10.04 | 2.5%
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| Huazhu Group Limited | 36.83 | 38.57 | -4.5%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.30 | 9.33 | -0.3%
| | Regal Hotels International Holdings Ltd | 2.55 | 2.52 | 1.2%
| | Sino Hotels Holdings Ltd | 1.30 | 1.42 | -8.5%
| | The Hong Kong & Shanghai Hotels Ltd | 5.57 | 5.55 | 0.4%
| | Shangri-La Asia Limited | 5.58 | 5.53 | 0.9%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 895.40 | 845.20 | 5.9%
| | IHCL (Taj Hotels, Resorts & Palaces) | 689.00 | 690.00 | -0.1%
| | EIH (Oberoi Hotels & Resorts) | 379.00 | 363.60 | 4.2%
| | Hotel Leela Ventures | 19.25 | 17.25 | 11.6%
| | Lemon Tree Hotels Ltd | 120.00 | 115.36 | 4.0%
| | Mahindra Holiday & Resorts | 381.10 | 368.00 | 3.6%
| | Royal Orchid Hotels | 322.80 | 315.00 | 2.5%
| | SAMHI Hotels Limited | 186.12 | 181.69 | 2.4%
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| The Shilla | 42400.00 | 43250.00 | -2.0%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.59 | 0.59 | 0.0%
| | ARA Htrust (US$) | 0.21 | 0.22 | -4.7%
| | Ascott Residence Trust | 0.91 | 0.92 | -1.1%
| | Banyan Tree Holdings Limited | 0.34 | 0.36 | -4.2%
| | CDL Hospitality Trusts | 0.91 | 0.93 | -2.2%
| | Far East Hospitality Trust | 0.63 | 0.62 | 0.8%
| | Frasers Hospitality Trust | 0.43 | 0.43 | 0.0%
| | Hotel Grand Central Ltd | 0.72 | 0.71 | 0.7%
| | Hotel Properties Ltd | 3.58 | 3.59 | -0.3%
| | Mandarin Oriental International Ltd (US$) | 1.81 | 1.72 | 5.2%
| | Stamford Land Corporation Ltd | 0.37 | 0.37 | 1.4%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 202.50 | 202.00 | 0.2%
| | The Ambassador Hotel, Ltd | 62.00 | 60.10 | 3.2%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 70500.00 | 70000.00 | 0.7%
| | Imperial Hotel, Ltd | 897.00 | 912.00 | -1.6%
| | Red Planet Japan Inc | 1423.00 | 1239.00 | 14.9%
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