GIC-Caleus Capital Investors Joint Venture Acquires Hotel de Rome in Berlin, Germany

Singapore-based sovereign wealth fund, GIC Private Limited ("GIC") has announced the acquisition of the 145-key Hotel de Rome in Berlin, Germany, via a joint venture with Berlin-based investment firm, Caleus Capital Investors ("Caleus"). While the transacted price has not been disclosed, the landmark hotel is listed by Commerz Real's Hausinvest fund as being valued at EUR125.9 million. Located at Behrenstrasse 37, in the city's central district of Berlin-Mitte, the hotel overlooks the State Opera House on Bebelplatz and is in close proximity to the historical site, Brandenburg Gate, and Französische Straße train station. Operated under the Rocco Forte brand, the hotel has a gross floor area of approximately 18,300 square metres, comprising 108 rooms and 37 suites. Other facilities within the luxury hotel include a ballroom, a 20-metre swimming pool, a gym and spa facilities.

TA Global Berhad Acquires Four Points by Sheraton Bangkok for THB2.25 Billion

Malaysia-based TA Global Berhad has reached an agreement to acquire Four Points by Sheraton Bangkok for THB2.25 billion (USD74.1 million). The hotel sits on over 3,600 square metres of land and feature 268 keys, three F&B outlets, a fitness center, and a rooftop swimming pool. The agreement come with an ongoing management contract with US-based Marriott International. Four Points by Sheraton Bangkok will be the second property that TA Global acquired in Thailand after Movenpick Karon Beach Phuket in 2012. The acquisition of Four Points by Sheraton Bangkok is the only freehold hotel transacted this year. Currently, TA Global owns seven hotels in five different countries which includes Australia, Singapore, Canada, China, and Thailand.

India-based Lemon Tree Hotels Acquires Berggruen Hotels' Keys Hotel Brand

India-based Lemon Tree Hotels, a mainly mid-market segment hotels firm, has acquired Berggruen Hotels, which owns 18 hotels under the 'Keys' brand across 16 locations in India. Reports indicated that the acquisition has been completed at an enterprise value of INR6 billion. This acquisition has made Lemon Tree Hotels the largest mid-priced hotel chain in India with 7,800 rooms in 77 hotels across 45 destinations. The company, which is adopting an asset-light strategy, plans to expand its presence to around 107 properties over the next two years.

ARA US Hospitality Trust to Acquire Three US hotels for USD84.5 Million

Singapore-listed ARA US Hospitality Trust ("ARA H-Trust"), the hospitality stapled group of ARA Asset Management, has entered into an agreement to acquire three US-based Marriott-branded hotels for USD84.5 million. The three freehold properties are the 135-Key AC Hotel by Marriott Raleigh North Hills, 124-Key Courtyard San Antonio at The Rim, and 131-Key Residence Inn San Antonio at The Rim. AC by Marriott Raleigh North Hills is a mixed-use development consisting of one-million-square-feet office space, retail, entertainment and residences. Meanwhile, Courtyard San Antonio and Residence Inn San Antonio are located adjacent to each other in a submarket in San Antonio. Property demand are generated from nearby corporations, universities and leisure attractions. The acquisition at a net property income yield of 8 percent is expected to increase ARA H-Trust's pro forma distribution income from its listing date on 9 May 2019 to 30 September 2019 by USD1.4 million, assuming the acquisition is completed on the listing date. Upon completion of the acquisition, ARA H-Trust's portfolio will grow to 41 hotels with 5,340 guest rooms across 22 states in the US.

American Airlines' Los Angeles-Christchurch, Dallas Fort Worth-Auckland and Air New Zealand's Auckland-New York Route to Commence Next Year

US-based American Airlines Inc. has announced two new routes to New Zealand from October 2020 until March 2021. The carrier will launch the only nonstop route between Los Angeles and Christchurch with a three times weekly service. The 13-hour flight will be served by a B787-8 aircraft with 20 business class and 28 premium economy seats. Meanwhile the airline will also launch flights between Dallas Fort Worth and Auckland. Flights will initially operate three times per week using a B787-9 aircraft, before moving to daily from 1 December 2020. Separately, New Zealand-based Air New Zealand Limited ("Air New Zealand") has announced the first direct route between Auckland and New York. The inaugural flight will commence on 29 October 2020, flying three times weekly on a year-round basis. The flight will be operated using a 275-seater Boeing 787-9 "Code 2" Dreamliner aircraft, which features 27 business premier seats, 33 premium economy seats and 215 economy seats.

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