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Asia-Pacific
Ritz-Carlton Properties in Melbourne and Perth Up for Sale
The Ritz-Carlton hotels in Melbourne and Perth are being sold for approximately $500 million, attracting bids from wealthy Australians and offshore investors. Salter Brothers has purchased the Sofitel Adelaide Hotel for $154 million, marking a significant hotel transaction in Adelaide. The Interlude , an urban wellness retreat, has opened in Melbourne ‘s Pentridge prison, featuring unique design elements like an underground swimming pool. -
Asia-Pacific
Macau’s Occupancy Rate Continues to Fall
The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. Accor , Ennismore , and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China.