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OUTRIGGER Acquires Zeavola Resort on Phi Phi Island, Thailand
US-based OUTRIGGER Hospitality Group (“OUTRIGGER”) has officially acquired the beachfront Zeavola Resort on the northern tip of Thailand’s renowned Phi Phi Island for an undisclosed sum. It is understood the property was previously held by Japan-based Wedge Holdings Co., Ltd. The 63-key property will undergo a comprehensive renovation and rebrand as OUTRIGGER Phi Phi Island Resort, with a scheduled reopening on 1 October 2025. The Zeavola Resort featured at least two food and beverage outlets, meeting facilities, a spa, a fitness centre, and a water sports centre with PADI training. Positioned along a pristine white-sand beach and backed by lush jungle, the refurbished resort will feature suites and villas designed to reflect OUTRIGGER’s barefoot-luxury concept, while incorporating local cultural elements and marine sustainability practices. This acquisition marks OUTRIGGER’s fourth operating property in Thailand, joining its existing resorts in Koh Samui, Khao Lak, and Surin Beach, Phuket.
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Travel + Leisure Co. Acquires Castaways Resort & Spa in Mission Beach, Australia
US-based vacation ownership company, Travel + Leisure Co., has acquired the freehold going concern of Castaways Resort & Spa in Mission Beach, North Queensland, Australia, for an undisclosed sum. The 48-key property was listed for close to AUD8 million or approximately AUD167,000 per key. The resort will be rebranded and operated under the Club Wyndham portfolio, marking the 67th addition to the company’s South Pacific network. Positioned between Townsville and Cairns, the property is set to appeal to both domestic and international travellers exploring Queensland’s eastern coast. Located approximately a two-hour drive south of Cairns Airport, the resort enjoys over 100 metres of absolute beachfront with panoramic views of Dunk Island and the Family Islands. Other facilities include a lagoon-style swimming pool, an on-site restaurant and bar, spa services, and event spaces. It is understood that the property was listed with a development approval in place for an additional 44 keys that incorporates an expanded beachfront conference space.
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Marriott Acquires citizenM Brand for USD355 Million
US-based Marriott International, Inc. (“Marriott”) has acquired Netherlands-based lifestyle hotel brand citizenM for USD355 million, marking a significant expansion in the select-service and lifestyle segments. citizenM currently operates 36 hotels (8,544 keys) in key global cities, with a further three properties under development (over 600 keys). The transaction equates to approximately USD41,550 per key, or USD38,823 per key when including citizenM’s pipeline. The transaction includes citizenM’s brand and intellectual property, and Marriott will enter into new long-term franchise agreements for hotels that are owned and leased by the seller. Known for its tech-driven design, efficient use of space, and vibrant communal areas, citizenM aligns with Marriott’s focus on delivering differentiated guest experiences. Stabilised franchise fees are projected at approximately USD30 million annually, with potential earn-out payments of up to USD110 million based on future growth performance.
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Thailand Invests THB165 Million to Transform Northeastern Airports into Regional Tourism Gateways
Thailand’s Ministry of Transport is investing close to THB165 million to upgrade regional airports in Nakhon Phanom, Sakon Nakhon, and Mukdahan, aiming to boost year-round tourism and economic growth in the northeastern provinces of Thailand. The initiative includes expanded flight schedules, upgraded passenger facilities, and the introduction of the “Living Airport” concept to promote local culture and products. By late June 2025, both Thai AirAsia and Thai Lion Air will increase the number of daily flights to and from Nakhon Phanom, bringing the total to 12 per day. Sakon Nakhon Airport is also expected to see increased flight frequency in the future. The construction of Mukdahan Airport will proceed once the environmental impact assessment is completed. Highway 223, a proposed expressway connecting Mukdahan and Nakhon Phanom, is currently in the planning phase. In addition, a railway line between Ban Phai and Nakhon Phanom is under development. All projects are scheduled for completion by 2027.
| | Absolute Share Price Performance, as of 9 May 2025 | | | Closing Share Price | 9 May 2025 | 2 May 2025 | % Change | | | | Australia Stock Exchange (ASX) | | | | Elanor Investors Group | 0.82 | 0.85 | -3.5%
| | Event Hospitality & Entertainment Ltd | 14.85 | 14.27 | 4.1%
| | General Property Group | 4.72 | 4.62 | 2.2%
| | Mirvac Group | 2.28 | 2.28 | -0.2%
| | | | Bangkok Stock Exchange (THB) | | | | Central Plaza Hotel Public Co Ltd | 22.40 | 24.60 | -8.9%
| | Dusit Thani Public Co Ltd | 7.65 | 7.90 | -3.2%
| | The Erawan Group Public Co Ltd | 2.26 | 2.28 | -0.9%
| | Grande Asset Hotels & Property Public Co Ltd | 0.05 | 0.04 | 25.0%
| | Laguna Resorts & Hotel Public Co Ltd | 37.00 | 36.75 | 0.7%
| | Minor International Public Co Ltd | 24.40 | 27.00 | -9.6%
| | S Hotels and Resorts Public Company Limited | 1.66 | 1.70 | -2.4%
| | | | China Shanghai Stock Exchange (RMB) | | | | Jinling Hotel Corporation Ltd | 6.99 | 6.92 | 1.0%
| | | | China Shenzhen Stock Exchange (RMB) | | | | Huatian Hotel Group Co.,Ltd. | 3.17 | 3.21 | -1.2%
| | Guangzhou Lingnan Group Holdings Company Limited | 11.93 | 12.15 | -1.8%
| | | | Huazhu Group Limited | 37.95 | 35.64 | 6.5%
| | | | Hong Kong Stock Exchange (HK$) | | | | Miramar Hotel & Investment Co Ltd | 9.90 | 9.10 | 8.8%
| | Regal Hotels International Holdings Ltd | 0.51 | 0.62 | -17.7%
| | Sino Hotels Holdings Ltd | 1.35 | 1.34 | 0.7%
| | The Hong Kong & Shanghai Hotels Ltd | 5.46 | 5.44 | 0.4%
| | Shangri-La Asia Limited | 4.60 | 4.41 | 4.3%
| | | | National Stock Exchange (INR) | | | | Chalet Hotels Ltd | 869.95 | 811.40 | 7.2%
| | IHCL (Taj Hotels, Resorts & Palaces) | 769.15 | 809.90 | -5.0%
| | EIH (Oberoi Hotels & Resorts) | 366.90 | 365.00 | 0.5%
| | Hotel Leela Ventures | 12.60 | 12.48 | 1.0%
| | Lemon Tree Hotels Ltd | 138.03 | 137.78 | 0.2%
| | Mahindra Holiday & Resorts | 330.80 | 319.75 | 3.5%
| | Royal Orchid Hotels | 364.65 | 369.90 | -1.4%
| | SAMHI Hotels Limited | 178.72 | 176.66 | 1.2%
| | | | The Shilla | 43600.00 | 44000.00 | -0.9%
| | | | Singapore Stock Exchange (S$) | | | | Amara Holdings Ltd | 0.89 | 0.89 | 0.6%
| | ARA Htrust (US$) | 0.21 | 0.21 | 0.0%
| | Ascott Residence Trust | 0.86 | 0.86 | 0.0%
| | Banyan Tree Holdings Limited | 0.34 | 0.33 | 1.5%
| | CDL Hospitality Trusts | 0.79 | 0.79 | 0.0%
| | Far East Hospitality Trust | 0.56 | 0.55 | 0.9%
| | Frasers Hospitality Trust | 0.67 | 0.64 | 3.9%
| | Hotel Grand Central Ltd | 0.72 | 0.71 | 1.4%
| | Hotel Properties Ltd | 3.70 | 3.70 | 0.0%
| | Mandarin Oriental International Ltd (US$) | 1.82 | 1.81 | 0.6%
| | Stamford Land Corporation Ltd | 0.36 | 0.36 | 0.0%
| | | | Taiwan Stock Exchange (NT$) | | | | Formosa International Hotels Corporation | 197.50 | 200.50 | -1.5%
| | The Ambassador Hotel, Ltd | 49.80 | 50.80 | -2.0%
| | | | Tokyo Stock Exchange (JPY) | | | | Japan Hotel REIT Investment Corp. | 72900.00 | 71000.00 | 2.7%
| | Imperial Hotel, Ltd | 901.00 | 910.00 | -1.0%
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