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www.dransfield.com.au 1 80% of lenders said they would lend to - PowerPoint PPT Presentation

Feb 22, 2023 •46 likes •366 views

Experience includes acting as principals and advisors for a wide range of hotel and resort assets > City hotels and regional assets > Single and multi-site operations > Backpacker to 5 Star Wide range of complimentary specialist

  1.  Experience includes acting as principals and advisors for a wide range of hotel and resort assets > City hotels and regional assets > Single and multi-site operations > Backpacker to 5 Star  Wide range of complimentary specialist services > Transaction management > Development > Strata Title > Asset management, operations & independent experts reports > AFS licensed > Operations  Publish Hotel Futures – Long term Australian Hotel Forecasts www.dransfield.com.au 1

  2. • 80% of lenders said they would lend to serviced apartments (2011 – 85%) • An LVR of 60% or lower was required by 80% of lenders surveyed (2011 – 60%) • Lenders will not typically lend to regional/suburban serviced apartments (same as 2011) • 80% of respondents say tourist zoning affects lending decision (up from 64% in 2011) • 50% indicated lending to a min. unit size of 50m2. No-one under 40sqm (60% in 2011) • Only 40% of respondents would consider funding construction (up from 36% in 2011) • Last 12 months all respondents believe attitude to lending has remained the same (2011 - softened) • Management structure more important than operator (same as 2011) www.dransfield.com.au 2

  3. Mint Melbourne St Kilda Rd A Property Management Case Study Presented by Murray Boyte CEO Ariadne Australia to ANZPHIC 2012 – Serviced Apartment Summit New Build – Where? Why? How?

  4. Mint Resorts & Apartments – Company Profile StayMint Pty Ltd is a wholly owned subsidiary of Ariadne Australia, trading in the Australian market as Mint Resorts & Apartments. Mint Resorts & Apartments current portfolio includes properties in Brisbane, Melbourne and on the Gold Coast with future growth expected in “key locations”. High accommodation standards meet the most discerning travelers leisure and business needs. Mint Resort & Apartments engage with property developers on an end to end basis transitioning from building design and construction to opening and beyond.

  5. Rhapsody Apartment Hotel Mint Melbourne St Kilda Rd... The Beginning The developer of the project on 568 St Kilda Road, Melbourne - The Ubertas Group acquired the land in February 2008. Over an eighteen month period the Ubertas Group: - Finalised the design of the building taking into account the market conditions and requirements of the serviced apartment operator. - Obtained final planning permit for the proposed development. - Conducted significant marketing and sale activities for the project. - Executed the finance facility agreement with their bank. - Secured the required presales of the residential apartments, meeting the overall presales requirements for the finance facility. - Secured a lease commitment from the serviced apartment operator. Construction commenced in November 2009. The building has 168 residential apartments, 145 serviced apartments, basement level car parking, a restaurant, a resident meeting room, a gym , laundry and associated amenities over 17 levels. There are also two separate lobbies – one for the residential apartments and one for the serviced apartments.

  6. Rhapsody Apartment Hotel Mint Melbourne St Kilda Rd... The Beginning The serviced apartments are located on five floors (levels 2 to 6) which are accessed by 2 dedicated lifts. The serviced apartments are a mix of studios and one bedroom apartments. Ariadne Australia secured a 20 year lease of the 145 serviced apartments and appointed Mint Resorts & Apartments to manage the serviced apartments. It was determined that the property would operate under a hotel style operation model with 24 hour Reception to service the corporate market segment. An experienced Property Manager was appointed six months prior to the commencement of operations. This ensured adequate timing for all the set up activities including, but not limited to: - design and construction of the front of house reception - implementation of branding and signage - implementation of marketing activities (to major customers), the website and other initiatives - appointment of staff, training and familiarisation with the building and its services - implementation of operating systems - procurement of supplies and services (electricity, phone systems, cleaners, etc) - presentation of the rooms (coordination of the delivery of the furniture to the rooms and final checks with the developer and builder to ensure the rooms were defect free)

  7. Mint Melbourne St Kilda Rd... Delivering the Brand Promise With a prime location secured, a Contract Consultant was appointed to design the FF & E consistent with the presentation of a Mint branded property and suitable for the corporate market segment. Expressions of Interest were accepted for the FF and E Design Contract and this was subsequently won by Resort Interiors who commenced the fit out in early 2011. The FF & E design brief was based on an emerging overseas trend - themed hotels - and this delivered a truly distinctive product designed around a music and dance theme. In September 2011 – 2 weeks earlier than planned, the property opened for business.

  8. Mint Melbourne St Kilda Rd... Today and Beyond After 10 months in operation the business has delivered a strong corporate base and an occupancy level that is achieving regional averages and a fair market share. Due to demand two bedroom apartments have now been added to the product mix - increasing the number of rooms available to 155. A Function and Conference facility is planned to open for business within the next month. Future portfolio growth will be based on the Mint Melbourne business model.

  9. Ascot Village 9

  10. Caloundra Central 10

  11. Gladstone City Central 11

  12. Developme De pment nt Summary ary • 78 apartments • 24 x 1 bedroom apartments • 39 x 2 bedroom apartments • 13 x 3 bedroom apartments • 1 x 4 bedroom apartments • 1 x managers unit • 119 car parks • 18m Swimming pool • Dual street frontage & access • Reception area • Boardroom meeting facilities 12

  13. Toowoomba Central Plaza 13

  14. Cairns Central Plaza 14

  15. Rockhampton Winter Garden Central 15

  16. Robina Central Plaza 16

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  18. Accor’s Apartment Network in Australia & New Zealand Lindsay Leeser July 2012

  19. Introducing Accor Accor is the world's leading hotel operator Global Brands • Established 45 years ago in France • More than 4,400 hotels and 530,000 rooms in 92 countries • Over 180,000 employees globally • Portfolio of complementary brands from luxury to economy • Market leader in Asia Pacific with more than 540 hotels and 100,000 rooms in 16 countries • Market leader in the Pacific with over 240 hotels and 32,000 rooms in Australia, New Zealand and Regional Pacific Brands Fiji 19

  20. Acquisition of Mirvac Hotels & Resorts Accor Pacific Network by Property Type Post Acquisition Accor completed its acquisition of Mirvac Hotels & Resorts on 22 May 2012 (X% number of rooms) • The portfolio incorporates 43 hotels and 5,356 rooms across Australia and New Zealand • These new additions will help Accor balance our strength in the midscale and economy sectors with an equally high profile in the upscale sector • Accor will provide the properties with an international platform with far greater scale and support • The transaction includes 23 properties with apartment-style accommodation • The acquisition provides a platform to grow our apartment network in Australia and New Zealand via MLR, management and franchise 240 Hotels 32,000 Rooms The Mirvac acquisition will enable Accor to build upon Mirvac's experience in managing strata properties, providing the existing team with the support of the world's largest hotel operator 20

  21. Accor’s Apartment Network in Australia & New Zealand Port Douglas Palm Cove Cairns Magnetic Island Airlie Beach Bundaberg Hervey Bay Noosa Yulara Twin Waters Maroochydore Brisbane (2) Surfers Paradise (2) Coolangatta Casuarina Auckland (3) Pauanui Perth Hunter Valley Mandurah Central Coast Sydney (5) Bunker Bay Bowral Kiama Busselton Pinnacle Valley Falls Creek Creswick Mount Buller Nelson Melbourne (4) Launceston Hobart Wanaka Other Strong spread of apartment properties across major city and regional markets 21

  22. Apartment Operating Model in Australia & New Zealand Apartment Network by Apartment Network by Operating Type Brand (X% number of rooms) (X% number of rooms) Diverse operating landscape with a balanced portfolio 22

  23. Apartment Network Growth Criteria 1 - Location Prime position in key leisure and corporate locations 2 - Product Meets brand standards and consumer demand 3 - Win-Win-Win Structure provides sufficient returns to the developer, incoming owner and operator 4 - Complementary Complements existing network in terms of location and meeting the needs of our customer base Accor will grow its apartment network in Australia and New Zealand via selective investment in MLR, management and franchise 23

  24. AIC MANAGEMENT CO.,LTD

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