Abacus Hospitality Fund

THIS FUND IS CLOSED TO NEW INVESTMENT

Abacus Hospitality Fund owns a portfolio of hotels and resorts located in Australia and New Zealand and utilises the expertise of specialist hotel management groups. to operate the hotels on its behalf. 

Abacus is targeting a total return to investors of 10% pa comprising quarterly cash distributions and growth in the Fund's net asset value.

As at 31 December 2009, we own six hotel properties valued at over $230 million:

• Swissotel Sydney, Sydney NSW
• Novotel Twin Waters, Sunshine Coast QLD
• Chateau on the Park, Christchurch New Zealand
• Rydges Tradewinds Cairns, QLD
• Rydges Esplanade Cairns, QLD
• Diplomat Hotel, Canberra ACT.

In March 2010, Abacus announced that the Fund had entered into a contract to sell Swissotel for $90 million, with settlement due in June 2010.