Thakral Acquires Three Properties for SGD66 Million in Osaka, Japan

Singapore-based, SGX Mainboard-listed Thakral Corporation Limited (“Thakral”) under a new pooled investment structure, has invested in two new properties, the Hotel White Bear Family (WBF) Namba Motomachi and an office building, Utsubo East Building. In addition, Thakral has also acquired the Legal Itachibori Building from the group’s current pooled investment vehicle. The total value for these three properties is at approximately SGD66 Million (about JPY5.46 Billion). This acquisition is in line with the group’s overall strategy to broaden its asset and earnings in Japan by capitalising on the country’s strong economic fundamentals and tourism boom. Located seven-minutes’ walk away from Namba Station, the 111-key Hotel WBF Namba Motomachi comprises of 26 double, 84 twin and one accessible twin room. The hotel is purchased on a fixed leaseback for five years to the current operator, WBF, a reputable brand which operates 11 hotels in Osaka and over 30 across six prefectures in Japan. With this acquisition, it will bring Thakral’s total number of investment properties in Osaka to nine.

Archipelagio International Signs a Master Franchise Agreement in Saudi Arabia

Indonesia-based hotel group Archipelagio International (“Archipelagio”) has signed a long-term Master Franchise Agreement with Saudi Arabia-based Warifat Hospitality Limited (“Warifat Hospitality”), a newly formed subsidiary of the real estate company Jabal Omar Development Company (“JODC”). Under this multi-hotel agreement, Warifat Hospitality will acquire development and branding rights for three of Archipelago’s Grand Aston, Aston and Harper brands, enabling the roll out of these brands across the Kingdom of Saudi Arabia. The first hotel developed under this agreement will be part of JODC’s flagship project, an integrated real estate development incorporating commercial malls, luxurious residential units and premium hotels. Located within walking distance to the Grand Mosque in Makkah, the 560-key Jabal Omar Grand Aston will be Archipelago’s first hotel in Saudi Arabia and is due for completion in July 2019. JODC is one of the largest real estate developers in the Middle East and one of the largest listed companies in the Saudi Tadawul Stock Exchange. Archipelagio is Indonesia’s largest hotel group, operating a portfolio of 137 properties with 19,000 rooms across nine core brands in Indonesia, Malaysia and Philippines. 

Ascott Debuts Citadines Connect Fifth Avenue New York

Singapore-based serviced residence owner-operator, The Ascott Limited (“Ascott”), has opened Citadines Connect Fifth Avenue New York, its first Citadines property in the United States. The 125-key renovated property offers rooms in a variety of guestroom types ranging from premier rooms with king or double beds to one-bedroom suites that come with a separate living area. The boutique hotel features, a large communal area in the lobby, a 24-hour business centre as well as a gourmet deli with daily complimentary grab and go breakfast. Located in the heart of Manhattan, guests are within walking distance from Theatre District and Rockefeller Center, and a 10-minute walk from key attractions such as the Empire State Building, the Museum of Modern Art and Grand Central Station. Ascott’s portfolio includes over 120 Citadines properties with more than 20,000 units around the world.  Ascott is slated to open another Citadines Connect in Cupertino Sunnyvale, Silicon Valley, California in the second half of 2019. 

Singapore Airlines and Tourism Australia Sign AUD11 Million Marketing Deal

Singapore Airlines (SIA) and Tourism Australia have renewed their commercial ties with the signing of an AUD11 million marketing deal. The strategic cooperation will fund tourism campaigns and promotional activities in eight of Australia’s key inbound markets such as China, Germany, India, Indonesia, Japan, Malaysia, Singapore and the UK. According to Tourism Australia’s managing director, John O’Sullivan, these markets represented four million international visitors and a collective spending of AUD22 billion in 2017. SIA currently operates more than 130 flights per week to Australia, serving Adelaide, Brisbane, Canberra, Melbourne, Perth and Sydney, representing 8% of all Australia’s international arrivals. The Singapore Airlines group, including its subsidiaries SilkAir and Scoot, has approximately 170 weekly flights to Australia.

Alila Villas Koh Russey to Debut in Cambodia

US-based hotel operator Two Roads Hospitality (“Two Roads Hospitality”) has opened Alila Villas in Koh Russey, its first property to be located in Cambodia. Located on a private island in the Koh Rong archipelago, the 63-key ecological resort will be accessible via a 20 minutes’ car transfer and speedboat ride from Sihanoukville Airport. Slated to open in November 2018, the property features 50 pavilions, 13 villas, two specialty restaurants, a beachfront Spa Alila, an infinity pool, and a fitness centre. Alila portfolio consists of 16 upscale to luxury hotels across Asia-Pacific, India, Middle East, the US. Singapore-based hotel management company, Alila Hotels and Resorts (“Alila”) plans to open another 3 properties in Jakarta, Sri Lanka and Wuzhen by the end of 2018. 

Absolute Share Price Performance, as on 5 October 2018