MFS increases hotels exposure
Phil Adams
MFS Limited has moved further into the hotels management sphere, announcing today that it had entered into an agreement with the Stockland group to acquire the Saville Hotel management business for $114 million.
MFS managing director Phil Adams said the Saville Hotel group would now be integrated into the MFS Stella Resorts division, which manages other apartment-style accommodation under the Peppers, BreakFree, Bale, Pacific International and Mantra Brands.
Adams said MFS and Stockland had also agreed to establish an ongoing relationship for potential mixed-use development projects in the future, under which MFS would become a preferred partner in the management of any new serviced apartment projects developed by Stockland in Australia.
Stockland announced its intention to dispose of the Saville business in August and said it had received significant interest from buyers in both Australia and overseas.
AUTHOR
Mike Taylor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
