HVS Asia Pacific Hospitality Newsletter - Week Ending 14 May 2021
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Fridcorp and Piety Group (“Fridcorp and Piety”) announced its
AUD180 million acquisition of the
Intercontinental Hotel Double Bay from China-based private equity firm,
Shanghai United Real Estate Investment (“Shanghai United”). The
140-key hotel has a total gross building area of
19,545 square metres and occupies a
3,670-square-metre lot in the Eastern Suburbs of Sydney,
4-kilometres east of the CBD. The hotel features extensive conference facilities, a rooftop pool and bar,
six retail tenancies, a spa, a gym, a restaurant and bar, and a
156-lot underground public car park. Fridcorp and Piety mentioned that they have several plans in place to restore the property to its former prestige. It was reported back on
10 May 2021
Dusit International, represented in China by Dusit Fudu Hotels and Resorts, has signed a management agreement with Zhejiang Xinyishang Tourism Development Company Limited to manage
Dusit Thani Resort Moganshan, Zhejiang.
The property is a luxury wellness-focused resort in an area of outstanding natural beauty just outside Hangzhou, one of the most prosperous cities in China.
Set to comprise 300 spacious villas and guest rooms overlooking Moganshan’s renowned rolling hills and tea plantations, the property is only 10 minutes by car from the high-speed train station, one hour by car from Hangzhou Xiaoshan International Airport, and only 30 minutes by car from Hangzhou city centre. Shanghai can be reached in just under two hours.