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Cairns, Australia Sees a New AUD750 Million Mixed-Use Development Next to Cairns Convention Centre
Australia-based Mayan Resources and Gasparin Group are set to commence construction of an AUD750 million luxury mixed-use project in heart of Cairns, Australia known as C3 Cairns (“C3”). The development will feature a 250-key luxury hotel, a rooftop bar and restaurant featuring Michelin-starred dining experience led by a renowned celebrity chef, a swimming pool, a gym, alongside premium residential apartments, commercial spaces and amenities. Strategically located opposite the Cairns Convention Centre and within close proximity to the Cairns Cruise Liner Terminal and Cairns Central shopping centre, C3 is poised to elevate the city’s appeal as a premier destination for tourism and business.
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CLAS Acquires Two Freehold Hotels in Japan for JPY21 Billion
Singapore-based CapitaLand Ascott Trust (“CLAS”) has acquired the 224-key ibis Styles Tokyo Ginza (“iSTG”) in Tokyo for approximately JPY16 billion or JPY71.4 million per key, and the 392-key Chisun Budget Kanazawa Ekimae (“CBKE”) in Kanazawa for approximately JPY5 billion or JPY12.8 million per key, totalling JPY21 billion. Both properties are freehold limited-service hotels. The iSTG is adjacent to Ginza Six, a prominent luxury retail mall and an eight-minute walk from Ginza Station. CBKE is located five minutes from Kanazawa Station. The acquisition was financed through CLAS’s divestment of four Japanese properties: including the 389-key Infini Garden, a rental housing property in Fukuoka, and three hotels in Osaka: 182-key Hotel WBF Hommachi, 168-key Hotel WBF Kitasemba East and 168-key Hotel WBF Kitasemba West. Including iSTG and CBKE, CLAS has completed investments of approximately SGD530 million in the past 12 months.
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Oakwood Studios Singapore Sold for SGD153 Million
Singapore-based Grand Prestige Land Pte Ltd, a company believed to be linked to an Indonesia-based family, has acquired Oakwood Studios Singapore for about SGD153 million, from Singapore-based boutique developer, Newfort Realty Pte. Ltd., This translates to approximately SGD1.59 million per key. The asset was a conversion of the former 37-unit Chateau Eliza in 2012 which was sold at SGD92.2 million and was last refurbished in 2017. Located on a 1,666 square metre site within the prime Orchard enclave, the freehold serviced apartment block consists of 96 units, including studios, one and two-bedroom apartments, swimming pool, fitness area, lounge, and co-working space.
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Lun Family Sells Hong Kong’s Winland 800 Hotel to Airport Authority Hong Kong for HKD765 Million
Hong Kong-based Mexan Limited, a firm controlled by the local Lun family and Hong Kong-based Winland Group, has agreed to sell the Winland 800 Hotel in Tsing Yi to the Airport Authority Hong Kong for HKD765 million, which translates to approximately HKD956,000 per key. The 800-key hotel, previously valued at HKD352 million, was sold at more than double its book value. The hotel features a food and beverage outlet, an outdoor swimming pool, a fitness centre and a sauna. The sale reflects increased involvement from governmental bodies and non-profits, actively sustaining the growth of the Hong Kong property market.
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Absolute Share Price Performance, as of 14 February 2025 | |
| Closing Share Price | 14 February 2025 | 7 February 2025 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 12.37 | 11.35 | 9.0%
| | General Property Group | 4.64 | 4.51 | 2.9%
| | Mirvac Group | 2.13 | 1.91 | 11.5%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 28.50 | 26.50 | 7.5%
| | Dusit Thani Public Co Ltd | 8.80 | 8.55 | 2.9%
| | The Erawan Group Public Co Ltd | 3.28 | 3.26 | 0.6%
| | Grande Asset Hotels & Property Public Co Ltd | 0.05 | 0.05 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 37.75 | 38.00 | -0.7%
| | Minor International Public Co Ltd | 26.75 | 25.00 | 7.0%
| | S Hotels and Resorts Public Company Limited | 2.02 | 1.87 | 8.0%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.82 | 6.61 | 3.2%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.22 | 3.11 | 3.5%
| | Guangzhou Lingnan Group Holdings Company Limited | 9.70 | 9.47 | 2.4%
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| Huazhu Group Limited | 36.17 | 32.89 | 10.0%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 8.88 | 8.88 | 0.0%
| | Regal Hotels International Holdings Ltd | 2.24 | 2.34 | -4.3%
| | Sino Hotels Holdings Ltd | 1.33 | 1.40 | -5.0%
| | The Hong Kong & Shanghai Hotels Ltd | 5.96 | 6.05 | -1.5%
| | Shangri-La Asia Limited | 5.28 | 5.30 | -0.4%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 673.00 | 750.00 | -10.3%
| | IHCL (Taj Hotels, Resorts & Palaces) | 741.90 | 794.90 | -6.7%
| | EIH (Oberoi Hotels & Resorts) | 340.00 | 382.70 | -11.2%
| | Hotel Leela Ventures | 14.30 | 16.23 | -11.9%
| | Lemon Tree Hotels Ltd | 134.88 | 146.05 | -7.6%
| | Mahindra Holiday & Resorts | 319.45 | 353.25 | -9.6%
| | Royal Orchid Hotels | 355.70 | 363.60 | -2.2%
| | SAMHI Hotels Limited | 160.90 | 166.21 | -3.2%
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| The Shilla | 39650.00 | 39450.00 | 0.5%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.58 | 0.61 | -4.1%
| | ARA Htrust (US$) | 0.22 | 0.22 | -2.3%
| | Ascott Residence Trust | 0.88 | 0.88 | 0.6%
| | Banyan Tree Holdings Limited | 0.34 | 0.34 | 0.0%
| | CDL Hospitality Trusts | 0.82 | 0.83 | -0.6%
| | Far East Hospitality Trust | 0.60 | 0.61 | -0.8%
| | Frasers Hospitality Trust | 0.55 | 0.57 | -3.5%
| | Hotel Grand Central Ltd | 0.72 | 0.71 | 1.4%
| | Hotel Properties Ltd | 3.57 | 3.55 | 0.6%
| | Mandarin Oriental International Ltd (US$) | 1.79 | 1.77 | 1.1%
| | Stamford Land Corporation Ltd | 0.37 | 0.37 | 0.0%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 197.00 | 195.00 | 1.0%
| | The Ambassador Hotel, Ltd | 55.00 | 52.90 | 4.0%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 69000.00 | 69700.00 | -1.0%
| | Imperial Hotel, Ltd | 914.00 | 908.00 | 0.7%
| | Red Planet Japan Inc | 5850.00 | 5570.00 | 5.0%
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