Asia PR News

SYDNEY, 30 March/Medianet International-AsiaNet/–

Leisure Inn Hospitality Management Pty Ltd (LIHM), owner of the Leisure Inn
Hotels and Suites brand, is pleased to announce that it will add a significant
number of serviced apartment and hotel developments to its management
portfolio.

Leisure Inn Hotels and Suites will manage the properties which are set to
be in the 3-4 star market in major city and regional locations in Australia –
and are to be developed through a joint venture between MARQ Property
Investments Pty Limited and Summit Real Estate Development Pty Limited under
the name Sunrise Serviced Apartments.

The size of Leisure Inn’s network of hotels will be strengthened on
completion of these new serviced apartment properties. In addition, it will
provide Leisure Inn’s customers with a greater choice of hotel locations and a
diverse range of products in Australia.

MARQ Property is part of the Silverhall group, an integrated property funds
manager and developer which has been involved in sourcing properties,
developing sites and project management and construction since 1999. The
Silverhall group currently manages investments in the hotel, residential,
industrial, commercial and aged care sectors. It is an approved manager for
various superannuation funds including the Astarra Superannuation Fund, a
public superannuation fund with A$270 million in funds under management. The
Silverhall group’s management team includes Executive Director and CEO Mr
Cameron Anderson, Executive Director of Sales and Marketing Mr Mike Anderson,
Chief Financial Officer Mr Mark Weller and Development Manager Mr Andrew
Sheldrick.

Summit Real Estate Developments is a joint venture between A&B Leisure
Investments Pte Ltd, a Singaporean based company which was recently announced
by Leisure Inn Hospitality Management as a new major shareholder and Summit
Capital Pty Ltd – jointly owned by Leisure Inn Hospitality Management CEO and
board member Mr Simon Wan and Leisure Inn Hospitality Management legal counsel
and board member Mr Richard Doyle.

Sunrise Serviced Apartments - the serviced apartment and hotel development
joint venture between MARQ Property Investments Pty Limited and Summit Real
Estate Development Pty Limited aims to assist developers to complete 3 and 4
star serviced apartment and hotel development projects. This is achieved by
providing developers with certain risk capital to assist in funding the
development, underwriting a portion of total apartment sales in the
development, providing project management and hotel industry expertise and
putting in place a management agreement or lease with apartment owners.

Leisure Inn Hotels and Suites’ Chief Executive Officer Mr Simon Wan
believes that the newly announced joint venture gives developers the
opportunity to advance their project with the backing of an experienced
development infrastructure fund formed through Sunrise Serviced Apartments Pty
Limited. “We invite developers to discuss their potential projects and utilise
the expertise we can offer in terms of Summit’s hotel development expertise,
the Silverhall group’s proven funds management and project management
capabilities and Leisure Inn Hotels’ hotel and serviced apartment operational
expertise.” As part of the arrangement, Leisure Inn will provide technical
support to all the developments under the joint venture to ensure the
apartments are designed to meet the expectations of its customers and the
demands of the accommodation market.

Sunrise Serviced Apartments is in the process of finalising five hotel
developments in Sydney, Tasmania, regional Queensland and regional NSW which
will significantly expand the number of hotels operated under the Leisure Inn
brand. A number of additional serviced apartments and hotel projects are also
currently being evaluated for development under the brand.

Leisure Inn Hotels and Suites is proud to offer value-for-money
accommodation with all hotels being centrally located with comfortable rooms,
modern facilities and friendly, welcoming staff. Leisure Inn properties include
Park Regis Hotel (Sydney), The Barclay Hotel (Sydney), Leisure Inn Suites –
Kings Cross (Sydney), Hobart Macquarie (Hobart), Woolmers Inn (Hobart),
Waterfront Lodge (Hobart) and Penny Royal Hotel & Apartments (Launceston),
with more to be announced soon.

SOURCE: Leisure Inn Hospitality Management

For further information contact:
Rachel Pirie
+612-8198-9220
rpirie@leisureinnhotels.com