asia

HVS Asia Pacific Hospitality Newsletter – Week Ending 26 November 2021


Operating Leasehold in Sydney’s Q Station Sold to Local Businessman Glenn Piper

Located at North Head in Manly, Sydney’s iconic hotel Q Station has been sold to northern beaches hotelier Glenn Piper in a deal brokered by Australia-based HTL Property and US-based CBRE Hotels. Piper will take over the operating lease of the property from its current owner Australia-based the Mawland Group, subject to the approval of the National Parks and Wildlife Service (“NPWS”). The 105-key Q Station features multiple F&B outlets, expansive event venues, dining outlets, and a private beach fronting Sydney Harbour. Mawland Directors Suzanne Stanton and Max Player, who previously operated Q Station in 2008 under a lease from the NPWS, stated, “Q Station is ready for a new layer of history, and we are excited to see value added to the property and operation under the care of its new leaseholder, with a continued focus on complying with the needs of the local community, which over the years has taken Q Station to its heart.”

Carnmore Hotel Christchurch was Sold for NZD 18.4 Million by Bayleys Realty Group

New Zealand-based real estate company, Bayleys Realty Group (“BRG”), announced that Carnmore Hotel Christchurch (“CHC”) was sold for NZD 18.4 million by Wayne Keene and Pau Dixon. CHC, previously known as Cosa Hotel, is the first modular hotel designed in New Zealand. Positioned as an upscale hotel, CHC is ideally located within 300 metres from Te Pae Christchurch Convention and Exhibition Centre. The 88-key property has a total of 5 levels and is equipped with a two bed-room manager’s apartment, staff room with showing facilities, a gym, a café, a fully licensed bar area and conference facilities. CHC was listed as a Freehold Going Concern property by BRG in 2021 and according to the National Director of Hotels, Tourism and Leisure of BRG, Wayne Keene, mentioned that the property was eventually acquired by a Thai investor. CHC was built by Vietnam-based TLC Modular then was shipped to New Zealand for construction, where the modulars were stacked onto and connected above the ground floor.

Citadines Sukhumvit 23 Bangkok Sold to Thailand-based Bhiraj Buri Group

Thailand-based Boutique Corporation Public Company Limited (“Boutique”) and Singapore-based The Ascott Limited, a wholly owned lodging business of CapitaLand Group, have sold Thailand’s Citadines Sukhumvit 23 to Thailand-based property developer Bhiraj Buri Co., Ltd. (“Bhiraj Buri”) for an undisclosed sum. The 138-key serviced apartment located in the heart of the prime Sukhumvit district of Bangkok is easily accessible from the Asok Skytrain Station and the Sukhumvit Subway Station. It features a rooftop pool, a fitness centre, and an onsite carpark. This purchase marks the first serviced apartment acquisition of Bhiraj Buri. Post-sale, Boutique will still own 2124-key worth of hospitality products across different cities in Thailand, with a further development focus on prime Sukhumvit areas, Phuket and Chiang Mai.

Accor Launches New Collection Brand – Emblems Collection

France-based Accor S.A. (“Accor”) has announced a new brand, the Emblems Collection, a global portfolio of boutique hotels and luxury resorts this Tuesday. The brand’s first flagship hotel, Guiyang Art Centre Hotel, Emblems Collection, will be located in the heart of China’s Guizhou province, and is slated to be opened in December 2022. The brand is expected to expand its presence globally to 60 properties by 2030. With the creation of Emblem Collection, Accor is broadening its footprint in the collection brands space in hopes to follow the success it has achieved with MGallery Hotel Collection, a storied portfolio that now counts more than 100 boutique hotels worldwide. Focused on the luxury segment but with a free-spirited approach, the Emblems Collection will feature unique hotels emblematic of their designers, demographics, or destinations with stylish and innovative sets. The brand will fall into three categories, Emblems Collection Heritage-hotels that are landmarks of the destination, Emblem Collection Retreat-resort properties along blissful beaches, and Emblems Collection Signature-design-led hotels that embody an aesthetic universe.

About HVS

HVS is the world’s leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more