Iprosperity Group

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The iProsperity Group (iPG) has sold the Park Regis Hotel in Sydney to the Yeh Group for $54.18 million.
The sale price represents a 23% increase on what iPG paid for it less than two years.
The 122-room Hotel stratum makes up 10 floors of the 45 level mixed-use tower at 27 Park Street, Sydney.
Recent refurbishments done through StayWell, are expected to lead to an increase in rates at the Sydney hotel.
In its recent 'Q1 2018 Hotel market analysis report', iPG predicted buoyancy in the hotel sector will continue for the remainder of the year, with Sydney to experience the highest activity levels and strongest ADRs.
Settlement is expected on October 31, 2018. 
The sale was handled by Gus Moors and Karen Wales of Colliers International.
"iPG have combined astute timing and sound business acumen to create substantial uplift in this asset over the period of Its ownership," said Moors.
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Sydney city's Park Regis sold by iPG for $54.18 million

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iProsperity has officially opened the first phase of a strategic co-operation agreement with “KUR-World Ecotourism Resort Center” in the Cairns region of Australia.
The agreement is the latest sign of iProsperity's continued investment in the Australian tourism market.
Regarding the strategic partnership with KUR-World Ecotourism Resort Center, Mr. Michael Gu, CEO and founder said, “the co-operation between iProsperity and KUR-World will focus on the field of luxury experiential accommodation."
"Simultaneously, this investment will be combined with iProsperity’s existing Australian high-yield return hotel portfolio to deal with the changing commercial property environment.” 
KUR-World, a large integrated resort in the Kurunda tropical rainforest of Cairns, Australia, is a low-density eco-tourism resort located on approx 630 hectares.
It integrates the existing tropical rainforest and Australian pastoral natural resources.
The project is planned to be completed by 2025, with the first phase of “KUR Cow” now open. It combines the Australian tropical rainforest and cultural experience within five themed scenic spots. This has resulted in an exciting experience combining a leading “wagyu” culture and outdoor sporting complex area.
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