03/22/2023 | 01:21am EDT
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Singapore, 22 March 2023 - City Developments Limited (CDL), through its wholly-owned hotel subsidiary Millennium & Copthorne Hotels Limited (M&C) and in a 50:50 Joint Venture (JV) with its New Zealand-listed subsidiary Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK), has entered into a Purchase Sale Agreement and Business Asset Sale Agreement on 22 March 2023 to acquire the Sofitel Brisbane Central hotel in Australia from Brookfield Asset Management at a purchase price of A$177.7 million (approximately S$159.2 million1), or A$427,000 (approximately S$383,0001) per key. Located in the heart of Brisbane's vibrant Central Business District (CBD), the 5-star luxury hotel is directly linked to the Central Station, a major transportation hub, and offers unparalleled connectivity to the city's commercial and retail areas, the Brisbane Airport, Brisbane Entertainment Centre, Gold Coast and rest of Queensland. The hotel is also within walking distance of the city's key attractions such as the Queen Street Mall, Eagle Street Pier beside the Brisbane River, South Bank Parklands and the Convention Centre. Comprising 416 rooms and suites, the landmark hotel boasts exceptional views overlooking the iconic ANZAC Square, the city's exquisite skyline, and the famed Sunshine Coast. The 30-storey hotel is home to the city's largest hotel event and meeting facility with nine meeting and conference rooms that can accommodate up to 1,100 people. Mr Kwek Leng Beng, CDL Executive Chairman, said, "The proposed acquisition marks the Group's entry into Brisbane's hospitality sector. Brisbane is amongst the key hospitality markets in Australia that have enjoyed the strongest RevPAR recovery in 2022, significantly exceeding pre-pandemic levels. Brisbane's pipeline of over A$20 billion in infrastructure projects will further enhance the city's position as a world-class sporting, tourism and business events destination. With Brisbane being the host city for the 2032 Olympic and Paralympic Games and the Rugby World Cup in Australia in 2027 and 2029, the acquisition presents an attractive opportunity for the Group to enlarge our presence in Australia and enhance our recurring income stream. The Group remains focused on optimising our hospitality portfolio." Following the expected completion of the acquisition in the second half of this year, Sofitel Brisbane Central will continue to be managed by the Accor Group under its Sofitel brand. The acquisition of Sofitel Brisbane Central aligns with the Group's diversification strategy, with Australia being one of its key markets. The Group has several development projects, including Fitzroy Fitzroy and The Marker in Melbourne, and Brickworks Park and Treetops at Kenmore in Brisbane. In 2018, it completed Ivy and Eve, an iconic 472-unit luxury residential project in Brisbane. The Group's REIT associate CDL Hospitality Trusts also owns two hotels in Australia - Mercure Perth and Ibis Perth. Attachments

City Developments : CDL to acquire Sofitel Brisbane Central - marks the Group's expanding hospitality footprint in Australia

08/12/2022 | 01:39am EDT
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(as Manager of IREIT Global)
1 Wallich Street #15-03 Guoco Tower Singapore 078881 Main (65) 6718 0590 www.ireitglobal.com
Media Release
1H2022 distributable income rose by 20.4% year-on-year on the back of acquisitions
Weighted average lease expiry improved to 4.7 years as at 30 June 2022 from 3.7 years a quarter ago due to lease renewals and new leases secured in 2Q2022
Portfolio valuation surpassed the €1.0 billion mark as at 30 June 2022, contributing to an improved aggregate leverage of 30.8% compared to 32.1% in prior quarter
Manager to continue to assess the macroeconomic environment closely, maintain its vigilance and diversify IREIT's asset class exposure and income streams
SINGAPORE | 11 AUGUST 2022
For immediate release
IREIT Global ("IREIT"), a Europe-focused real estate investment trust managed by IREIT Global Group Pte. Ltd. (the "Manager"), is pleased to report a solid set of results for the first half year ended 30 June 2022 ("1H2022"). Gross revenue increased by 27.2% year-on-year to €30.1 million, while net property income for 1H2022 rose by 26.4% to €24.4 million over the same period. The increase was mainly due to the contribution from the acquisition of the French portfolio and Parc Cugat in 3Q2021. In addition, income available for distribution increased by 20.4% year-on-year to €18.2 million. This brought the distribution per Unit ("DPU") for 1H2022 to 1.41 € cents. On the portfolio front, IREIT's overall occupancy rate was largely stable at 95.0% as at 30 June 2022, while the weighted average lease expiry ("WALE") increased to 4.7 years from 3.7 years a quarter ago. The sequential improvement in the WALE was driven mainly by the six- year lease extension for 100% of Bonn Campus and a 12-year major new lease for approximately 5,300 sqm data centre space at Sant Cugat Green during the second quarter of 2022. This contributed to the increase in IREIT's portfolio valuation to surpass the €1.0 billion mark, which in turn led IREIT's aggregate leverage to improve to 30.8% as at 30 June 2022. Joint Sponsors of IREIT Global:
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(as Manager of IREIT Global)
1 Wallich Street #15-03 Guoco Tower Singapore 078881 Main (65) 6718 0590 www.ireitglobal.com
Media Release
Based on the closing unit price of S$0.61 as at 30 June 2022, IREIT is trading at 26.5% discount to its NAV of S$0.83 per Unit. (1)
Mr Louis d'Estienne d'Orves, Chief Executive Officer of the Manager, said, "Again in 1H2022 and despite a challenging environment, we have been able to achieve some major milestones for our Unitholders. With the outlook likely to remain challenging due to the significant economic and geopolitical uncertainty, our role is to continue having an active asset management approach to maintain our performance." On the back of the challenging operating environment, the Manager has continued to focus on its asset management initiatives to try to retain the existing tenants and safeguard the overall occupancy rate of IREIT's portfolio. With the entire lease at Darmstadt Campus due to expire in end-November 2022, active marketing of the property is currently ongoing to try to fill up the space to be vacated. Darmstadt Campus is in an established office area that was previously predominantly occupied by Deutsche Telekom. With the rationalisation of Deutsche Telekom's operations in recent years, the vacancy rate in the area has increased and more time is needed for the vacant spaces to be taken up. As at 30 June 2022, Darmstadt Campus contributes approximately 10.8% of IREIT's total rental income. Looking ahead, the Manager will continue to assess the macroeconomic environment closely and maintain its vigilance, while remaining steadfast in executing the strategy of further diversifying IREIT's asset class exposure and strengthening its income streams. Anticipating the growing market focus on sustainability and energy conservation, the Manager has already started to pursue green building certifications for selected properties within IREIT's portfolio since the beginning of 2022. On the capital management front, the Manager has also established a US$1 billion multicurrency debt issuance programme in May 2022. "This will broaden IREIT's funding sources and flexibility, given that it can now issue various types of unsecured securities under the programme expeditiously as and when the need arises," added Mr d'Estienne d'Orves. (1) Based on S$1.4547 per € as at 30 June 2022 extracted from MAS website
Joint Sponsors of IREIT Global:
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(as Manager of IREIT Global)
1 Wallich Street
3.7
1H2022 DPU decreased marginally by 1.4% year-on-year to 1.41 € cents, due to the effect of the management fees being paid 100% in cash from FY2022 onwards. Had the management fees been paid 100% in cash in 1H2021, DPU would have been 3.7% higher year- on-year. ABOUT IREIT GLOBAL
www.ireitglobal.com | SGX Main Board Listing
IREIT Global (SGX-UD1U) which was listed on 13 August 2014, is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets. IREIT Global's current portfolio comprises five freehold office properties in Germany, five freehold office properties in Spain and 27 freehold retail properties in France. IREIT Global is managed by IREIT Global Group Pte. Ltd. (the "Manager"), which is jointly owned by Tikehau Capital and City Developments Limited ("CDL"). Tikehau Capital is global alternative asset management group listed in France, while CDL is a leading global real estate company listed in Singapore. Joint Sponsors of IREIT Global:
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(as Manager of IREIT Global)
1 Wallich Street #15-03 Guoco Tower Singapore 078881 Main (65) 6718 0590 www.ireitglobal.com
Media Release
www.tikehaucapital.com | Paris Euronext, Compartment A Listing
Tikehau Capital is a global alternative asset management group with €36.8 billion of assets under management as at 30 June 2022. Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a distinctive business model, a strong balance sheet, proprietary global deal flow and a track record of backing high-quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to the companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders' equity as at 30 June 2022), Tikehau Capital invests in its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 725 employees across its 13 offices in Europe, Asia and North America. Tikehau Capital is listed on compartment A of the regulated Euronext Paris market (ISIN: FR0013230612; Ticker: TKO.FP). ABOUT CITY DEVELOPMENTS LIMITED
www.cdl.com.sg | SGX Main Board Listing
City Developments Limited ("CDL") is a leading global real estate company with a network spanning 104 locations in 29 countries and regions. Listed on the Singapore Exchange, CDL is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments. With a proven track record of over 55 years in real estate development, investment and management, CDL has developed over 48,000 homes and owns around 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally. Its diversified global landbank offers 3.3 million square feet of land area. Along with its wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited, CDL has over 130 hotels and over 40,000 rooms worldwide, many in key gateway cities. Joint Sponsors of IREIT Global:
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(as Manager of IREIT Global)
1 Wallich Street #15-03 Guoco Tower Singapore 078881 Main (65) 6718 0590 www.ireitglobal.com
Media Release

IREIT Global : Maintains Solid Performance For 1H2022 Results

Kung Teong Wah has been appointed general manager of Parkroyal on Beach Road.
Amassing 30 years of experience in Asia and Singapore's hospitality scene, Kung was a cluster general manager with Millennium Hotels and Resorts prior to joining Parkroyal on Beach Road.
Having started his career as a chef, Kung has since received many accolades throughout the course of his career.
He is also a board member of the e2i Employment & Employability Institute and chairman of the Institute for Technical Education (ITE) Hospitality Advisory Board Committee.

<a href="https://www.ttgasia.com/2022/08/03/parkroyal-on-beach-road-appoints-new-gm/">Parkroyal on Beach Road appoints new GM</a>

Updated
https://str.sg/waZg
Singapore is one of our top two major international booking centers for UBS's wealth management business in the region, the headquarters for UBS's investment banking business in South Asia, and APAC hub for fx, rates and credit. About UBS
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook. PHOTO: ST
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE). UBS has been an active community partner in all the markets they operate in, with the aim to create a positive influence on the social and environmental well-being of the local communities. Guided by its values, UBS believes in the importance of being inclusive and have engaged the local communities holistically through philanthropy, partnerships and employee participation.Its programmes have connected people, strengthened bonds and enriched lives through art and education for children and youth. UBS also supports programmes that foster entrepreneurship, self-leadership and communication skills, as well as provide out-of-classroom experiences and insights into the finance industry. Global Hotel partner
Millennium Hotels and Resorts
Millennium Hotels and Resorts (MHR) is the global brand of Millennium & Copthorne Hotels Limited (M&C), a global hotel company which owns, manages and operates nearly 140 hotels across some 80 locations. It has several distinct hotel brands, including Grand Millennium, Millennium, The Biltmore, M Social, Studio M, M Hotel, Copthorne and Kingsgate, throughout Asia, Europe, the Middle East, New Zealand and the United States. PHOTO: MILLENNIUM HOTELS AND RESORTS
Its properties are in key gateway cities such as London, New York, Los Angeles, Paris, Dubai, Beijing, Shanghai, Seoul, Tokyo, Singapore and Hong Kong. Occupying the best locations around the world, MHR has the perfect address for business and leisure travellers. In Singapore, there are six MHR hotels - Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Studio M, M Social, and Copthorne King's Hotel on Havelock. M&C is the hotel arm of Singapore-listed global real estate company City Developments Limited, and is a member of the Hong Leong Group. Official airline partner

Singaporean of the Year 2022: About the sponsor and partners

Global hospitality management and real estate group leverages Cloud5 contact center expertise to provide reservations and guest relations services to international guests. 3 June 2022
Chicago, IL. — June 3, 2022, Cloud5 Communications, a leading provider of communications solutions and Managed IT Services for more than 5,000 hotels, MDUs, and commercial facilities across the Americas, has today announced a significant expansion of its contact center services for Millennium Hotels and Resorts . Following Cloud5’s successful track record with properties in the United States, Millennium Hotels and Resorts has extended its contact center partnership with Cloud5 to include additional properties within the United Kingdom, Europe, and Singapore, which Cloud5 services on an over-flow and afterhours basis. This expansion of Cloud5’s global footprint, demonstrates the company’s ability to provide international guest and reservation sales support from Cloud5's Canadian contact center operations. A hotel management and real estate group with a global industry presence, Millennium Hotels and Resorts features a portfolio of over 145 hotels across some 80 locations. With its headquarters in Singapore, the company has earned a reputation for blending Asian hospitality with western comfort and for providing its guests with fresh and unique experiences that are tailored to a hotel’s regional location. Brands operating under the Millennium umbrella which benefit from Cloud5 contact center support include Grand Millennium, M Hotel, Kingsgate, Studio M Hotels, Copthorne and M Social. “Since 2008, we’ve partnered with Cloud5 to deliver superior guest relations and reservations services for our US-based hotel operations,” said Saurabh Prakash, Group Senior Vice President, Commercial for Millennium Hotels and Resorts. “Our relationship with Cloud5 has always been a valuable one. With the easing of borders and a significant uptick in the travel industry, we believe that now is the right time to expand our partnership to provide the same quality service to our guests in international markets – including the United Kingdom, France, Italy and Singapore.”
With a total of 40 properties now supported by Cloud5, recent additions include The Chelsea Harbour Hotel and Spa, Millennium Gloucester Hotel London Kensington, Copthorne Tara Hotel London Kensington, and Copthorne Hotel Merry Hill-Dudley. Within Singapore, properties further include Grand Copthorne Waterfront Hotel Singapore, The Orchard Hotel Singapore, and Studio M Hotel Singapore. “As management companies prepare to meet the post-pandemic travel surge, effective reservations and guest support services will be critical to their success,” said Jason Reid, Senior Vice President, and General Manager of Cloud5’s contact center. “We are honored to provide Millennium Hotels and Resorts with a proven solution that ensures guests receive swift service and the customized information they need to move forward with a reservation, and we look forward to this continued relationship.” 
About Cloud5 Communications
Cloud5 is the leading communications technology and services provider to customer-centric brands across the Americas. The company's fast, reliable Internet solutions and flexible voice systems enhance the guest experience and resident satisfaction at more than 5,000 hotels , MDUs , and commercial facilities. Cloud5's award-winning Contact Center combines innovation with skilled agents to deliver sales and service that add value across any channel. The company's comprehensive Managed IT services include Vendor Management, Dispatch & Onsite Support, Help Desk Support, Virtual Guest Services and more to help customers control operating costs and free up internal resources. For more information visit cloud5.com or call 877.241.2516.

Cloud5 Communications Expands Contact Center Support for Millennium Hotels and Resorts to New Locations in the United Kingdom, Europe and Asia

Cloud5 provides hospitality communications services that includes HSIA, Internet, Cloud-based PBX, SIP Trunking, PBX Support, Contact Center and Data solutions. The company is based in Chicago, Illinois.

Cloud5 Communications

Following Cloud5 Communications 's successful track record with properties in the United States , Millennium Hotels and Resorts has extended its contact center partnership with Cloud5 Communications to include additional properties within the United Kingdom , Europe , and Singapore , which Cloud5 Communications services on an over-flow and afterhours basis .

Millennium Hotels and Resorts is hotel company that offers facilities and personalized services. The company specialties in business travel, hotels, leisure travel, meetings and events, conferences, weddings, retreats, restaurants, and luxury hotels. It is based in London, England.

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