Pipeline holds strong for Quest Apartment Hotels

KEY POINTS:

  • Quest Apartment Hotels will have successfully opened six new properties in 2020 by Christmas
  • Two properties have already opened, Quest Robina (QLD) and Quest Palmerston North (NZ)
  • The four properties under construction are Quest Perth Ascot (WA), Quest Ballarat Station (VIC), Quest Preston (VIC) and Quest Wangaratta (VIC) - totalling 340 rooms.
  • Quest has an additional five properties under construction in New Zealand, all slated to open in 2021
  • In Australia alone, the company has a further nine agreements for lease signed, with construction due to commence in next 12 months totalling 715 rooms
  • Eight memorandums of understanding are in place with agreement for lease in active negotiations for a further 693 rooms, plus ten more memorandums of understanding in negotiation.
  • Backed by The Ascott Limited, Quest remains focused on its European expansion

Quest Apartment Hotels’ pipeline has remained intact throughout 2020, with the subsidiary of the world's largest serviced residence operator, The Ascott Limited, set to open four new properties before the end of the year in Australia.

Quest has an additional nine agreements for lease on properties in Australia, totalling 715 new rooms, plus an additional five agreements in New Zealand for properties currently under construction.

Interest from development partners remains strong, with an additional eight memorandums of understanding in place with agreement for lease in active negotiations for a further 693 rooms, plus ten more memorandums of understanding in negotiation.

The company, which already has over 170 apartment hotels around the world, remains on track for delivery of Quest Perth Ascot, Quest Ballarat Station, Quest Preston and Quest Wangaratta, all slated for completion within the coming months. The four properties total 340 new rooms.

The pipeline announcement follows the successful delivery of Quest Palmerston North in New Zealand and Quest Robina on the Gold Coast earlier in the year.

“Working closely with our trusted development partners, despite headwinds, we have been able to maintain a steady program of openings in 2020, and by the end of the year will have launched a total of six new properties in twelve months between our core markets of Australia and New Zealand”, said Quest chief operating officer David Mansfield.

“This result is exactly what we had planned for prior to COVID-19, and while the enormous challenges ahead are not lost on us, we are confident Quest will emerge from the pandemic a more resilient company, geared for a post-COVID environment, in the locations our corporate customers need to be”.

In April, at the peak of the global pandemic, Quest Robina opened its doors in the sunshine state. The $32 million-dollar 80-room property, developed by longstanding partner Pellicano, marked Quest’s first apartment hotel on the Gold Coast. 

“While no doubt an incredibly challenging time to open a new property, our franchisees at Quest Robina have done an exceptional job accommodating essential workers and intra-state holiday-makers”, said David Mansfield.  

“With borders now open to most states, Quest Robina has begun to see bookings from interstate guests, as well as intrastate holiday makers, which is providing a long-awaited boost”. 

Quest has also signed to operate a new 71-room apartment hotel within the $1-billlion Woolooware Bay Town Centre development, next door to PointsBet Stadium (Shark Park).

“Quest Woolooware Bay will accommodate the growing business community ensuing from the Town Centre development, as well as sporting teams and fans”, said Mr Mansfield.

Last month, Quest also month opened a 40-apartment hotel in New Zealand, Quest Palmerston North.

“This was a tremendous effort by the Quest New Zealand team and our development partners Rangitāne o ManawatÅ« and Wallace Development”, said Mr Mansfield.  

Backed by major partner and global accommodation powerhouse, The Ascott Limited, Mr Mansfield says Quest is primarily focussed on its ongoing regional and suburban growth in Australia and New Zealand, as well as the brand’s European expansion.

“The early success of Quest Liverpool City Centre has given us confidence the Quest product will bode well in Europe, in fact we are ranked number 1 on TripAdvisor in Liverpool”, said Mr Mansfield.

“Ascott already has a significant footprint throughout Europe across its stable of brands, giving Quest the market understanding and relationships to scale quickly and successfully”.

Quest’s next property to open will be Quest Perth Ascot on Wednesday 16 September. According to STR data, the milestone will make Quest the largest single hotel brand in Western Australia.

“Our strategy is to be where the corporate traveller needs to be, and that is regional and suburban Australia”.

“Throughout the global pandemic these locations have been the most resilient and we anticipate they’ll lead our recovery on the whole”.

-ENDS-

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