United Kingdom
United States
Asia Pacific
Singapore hotel operator eyes Australia
Singapore-based hospitality management group Far East Orchard Limited is poised to secure a strong presence in Australia.
The company is seeking shareholder approval next week on two separate joint ventures: one with Australian-based Toga Group and the other with Singapore-listed The Straits Trading Company.
The joint venture with Toga Group will give Far East Orchard a 50% in Toga’s hospitality management business. In return, Far East Orchard will inject A$250 million into the joint venture.
The Toga Group operates more than 7,000 rooms across more than 50 hotels and serviced apartments in Australia, New Zealand, Germany and Denmark.
In a separate joint venture, first announced in April, Far East Orchard will partner with The Straits Trading Company.
Far East Orchard will contribute 25 hospitality contracts and pay S$76 million in cash, while Straits Trading will contribute three Rendezvous hotels in Australia and 13 hotel management contracts in the Asia Pacific region.
The three hotels in Australia are Rendezvous Grand Hotel Melbourne, Rendezvous Hotel Perth and Rendezvous Studio Hotel Perth Central.
Far East will hold a 70% stake in the joint venture, while Straits Trading will hold the remaining 30%.
Ian Jarrett
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Gatwick braces for strike
Co-pilot faints, easyJet flight issues ‘red alert’