Pacific Hotel Brisbane has a complete transformation and nominated for upscale hotel of the year in the industry Hotel Management awards.
Acquired just on one year ago we have worked extremely hard in taking a rundown hotel that lacked direction and transformed it by renovating each of the 179 rooms plus corridors, foyer, pool area and the restaurant veranda. All this within our budget of $8M. The recently transformed property has now been nominated for Upscale Hotel of the year in the industry Hotel Management Awards.
With the second runway at Brisbane airport due to open late 2020 and significant other infrastructure works underway, Brisbane is a city expected to give a lift to room rates. In addition, Brisbane live entertainment precinct is being planned for the other side of Roma Street park, making us the closest located 4 star hotel.
We are working now to grow our business and win a loyal base of Corporate clients over the next 12 months. We are confident of achieving the targets we set ourselves in our five year plan for the asset.
ACF Regional Hospitality Fund to target over 10% ROE from inception.
Facilimate Hotels delivering strong management experience to improve Asset growth.
Pacific Hotel Cairns is riding the Australian Tourism Boom and our investors are seeing an annual ROE above 17%.
Pacific Suites Canberra a constant performer.
