Mergers & Acquisitions

Australia-based fund management company, Serene Capital, has acquired the 82-key Quest Springfield Central in Queensland, Australia from UK-based real estate investment manager, 90 North Real Estate Partners LLP, (“90 North”) and Saudi Arabia-based investment firm, Sidra Capital, for AUD26.7 million, reflecting AUD325,600K per key and a yield of approximately 7.65%. 90 North and Sidra Capital has acquired the building for AUD24.3 million from Australia-based Springfield City Group Pty Limited in 2018. Completed in 2018, the modern 4-star apartment hotel sits on a 2,795 square metres (“sqm”) site with a gross floor area of 6,633sqm across six levels. The hotel features three commercial tenancies, conference facilities, a gym and a laundrette. The asset is underpinned by a long-term lease with Australia-based Quest Serviced Apartments Pty Ltd extending to 2043, incorporating fixed annual rental increases. Situated within Springfield’s commercial and health precinct, the property is appr...

Future Hospitality Summit – FHS World is putting the Philippines in the spotlight with a dedicated pavilion highlighting the country’s dynamic, diverse hospitality and tourism sector throughout the event, taking place at Madinat Jumeirah in Dubai, 27-29 October.

This article was written by Hospitality Daily Podcast. Click here to read the original article This week, Josiah Mackenzie and Andrew Arthurs are in Phoenix for The Lodging Conference, talking…

Rates GPT @ The Moment of Decision In case you’re curious about why Rate Gain would buy Sojern for $250 Million…. The answer may partially rest in the never ending…

BLS UK Hotels Ltd has announced the acquisition of the long-established Trefeddian Hotel in Aberdyfi for a reported £6.55m, ending more than 100 years of family ownership. The Cave-Browne-Cave family…

Penally Abbey Hotel in Pembrokeshire has been brought to market for an undisclosed sum. Located on the edge of Tenby, the Grade II listed property has been owned by Melanie…

The family that runs four-star hotel Tewinbury Farm in Welwyn has completed its acquisition of Hertford House Hotel and the adjoining Quiet Man pub for over £2.2m, following the administration…

This article was written by Lodging Magazine. Click here to read the original article Regardless of where the industry is in a cycle, there are always owners who are looking…

Emerging Travel Group (ETG), a global travel company operating the RateHawk, ZenHotels, and Roundtrip brands, has partnered with Simple Booking, one of the leading international CRS providers, used by more than 7,500 hoteliers worldwide. Through this collaboration, ETG is integrating with the company’s channel manager to connect more properties across Europe, especially in Italy, as well as in South America, Asia, and Australia, while offering them global distribution via both B2B and B2C platforms.

PHD Hotels has acquired the 111-key Aloft Birmingham Soho Square. The sale was brokered by and completed by Hunter Hotel Advisors “We are proud to welcome the Aloft Birmingham Soho…