Arkaba Hotel $12 million renovation complete

The Arkaba Hotel has fully reopened after the completion of its comprehensive $12 million renovation.

Over the last year, the hotel has unveiled a new lounge, restaurant, function spaces, sports bar and hotel reception and now employs more than 120 staff.

Hurley Hotel Group Owner Jenny Hurley said the Arkaba Hotel aims to be “a venue for all occasions…[and] a place where people come together to enjoy live music, sport, food and drinks”.

“The renovations have breathed new life into the Arkaba Hotel while maintaining the integrity of the original design of this iconic building,” she said.

Located at 150 Glen Osmond Road, Fullarton the hotel is open seven days a week from 7am until late.

– Jade Woollacott

Listed biotech raises $1 million

Anatara Lifesciences has received commitments from investors for a $1 million share placement that will go toward product development and commercial manufacturing.

The company, which develops solutions for gastrointestinal diseases in animals and humans, said the shares were issued at a price of 4 cents per share, representing a 3.5 per cent discount.

Anatara Lifesciences executive chair David Brookes and non-executive director John Michailidis committed to take $60,000 and $10,000 respectively in the placement, which will be subject to shareholder approval at a general meeting on a future date.

It comes as Anatara’s Stage 2 Irritable Bowel Syndrome trial (dubbed GaRP-IBS) is fully funded, with the new capital to back future products and the company’s balance sheet.

“The strong interest and support shown by our largest shareholders, as sophisticated and institutional investors, meant that only existing shareholders could be involved in this placement,” chairman Brookes said.

“Funds raised will be used to further refine the GaRP product development and the appropriate regulatory processes, thereby ensuring readiness for commercial manufacturing.”

– David Simmons

William Buck Adelaide 2024 CFO Summit, at the Adelaide Oval on Wednesday, 15 May from 8:30am-5pm.

KOJO makes royal acquisition

Adelaide-based entertainment company KOJO has acquired boutique sports and entertainment consultancy Prince PR, and brought the company’s founder in-house.

The company said the acquisition adds PR capabilities to KOJO’s team of creatives, strategists and producers.

“The PR approach will leverage the capabilities of KOJO’s renowned sports, live events, and entertainment teams to provide a comprehensive offering that allows brands to inspire, influence, and entertain,” KOJO said.

“PR services include campaigns and strategy, media relations, communications, event and activations publicity, content, and influencer relations.”

CEO Stephen Lord said he was pleased to welcome Prince to the KOJO family.

“We have been working with our clients to grow their businesses in a broad range of industries and continue adapting our services to meet their needs,” he said.

“We have focused on maintaining sustainable expansion through strategic acquisitions to enhance our abilities while recruiting top talent in the industry.”

– David Simmons

Asia Pacific Hotel Industry Conference and Exhibition was held at the Adelaide Oval. Photo: Tony Lewis/InDaily

Hilton group’s prototype on show

Hotel developers and owners from Australia and New Zealand visited the Asia Pacific Hotel Industry Conference and Exhibition at Adelaide Oval last week, where Hilton showcased an Australian expansion roadmap.

The group showed off a room prototype for their upscale service brand Hilton Garden Inn at the conference.

Director for development in Australasia for Hilton Tushar Raniga said the Hilton Garden Inn “hits a sweet spot for owners and travellers alike”.

“Owners have shared with us that they are drawn to Hilton Garden Inn for its efficient kit-of-parts prototype, tailored offerings and greater flexibility with franchised and managed hotel agreement options,” he said.

The room prototype on display featured a tailored design with Hilton’s “core elements” highlighted.

– Isabella Kelly

South Australia was the only state to see exports grow. (AAP Image/David Mariuz)

South Australia only state to grow exports

South Australia was the only state in Australia to experience export growth for a third consecutive month in the latest trade data from the Australian Bureau of Statistics.

“Our state’s resilience, while the rest of the nation fights off decreasing exports, is a testament to South Australia’s growers and producers,” Trade and Investment Minister Joe Szakacs said.

This was the eighth consecutive month South Australian export growth outpaced the rest of the country.

China is SA’s largest export destination, valued at $3.62 billion. The United States follows at $1.9 billion and Malaysia at $1.2 billion.

China removed all remaining trade barriers on Australian wine in March which the SA Government hopes will further strengthen export growth.

“Our wine industry is well placed to capitalise on China’s removal of its tariffs on imported Australian wine,” Szakacs said.

– Louise Jackson

Desalination plant at Cape Hardy Industry Port Precinct confirmed

The South Australian government has announced the Cape Harty Industry Port Precinct will be home to a desalination plant, which will provide more sources of water across northern and regional parts of the state for mining operations.

The Association of Mining and Exploration Companies welcomed the news, with CEO Warren Pearce noting the project was “another step forward in opening up the Eyre Peninsula for greater development and new economic opportunities”.

AMEC member Iron Road has agreed to sell land for the project which will assist in future hydrogen generation projects too.

“AMEC has long been a strong supporter of the Northern Water project and Cape Hardy is the obvious choice for its location at Iron Road’s future multi-user port facility site,” Pearce said.

“Access to water is a baseline requirement for the mineral and exploration and mining sector. To see the long-term commitment from the state government is reassuring.

“Securing water for the mines of today and the future is more important than ever, with demand set to increase as critical minerals and renewable energy projects come online and governments seek to transition to decarbonised economies and industries.”

– David Simmons

Home loan commitment statistics for March released

The Australian Bureau of Statistics has released the Lending to Households and Business data for March 2024, providing statistics on housing finance commitments.

In March, new loan commitments rose by 3.1 per cent for housing and 3.9 per cent for personal fixed-term loans.

New loan commitments for business construction fell by 41.9 per cent in March, while loans for business property purchases fell by three per cent.

The value of borrower-accepted loan commitments for housing throughout March was $27.64 billion.

Housing Industry Association senior economist Tom Devitt said Australia was “closing in on the weakest two years of lending for new home building in over two decades”.

“The last 20 months of new home lending has been weaker than any equivalent period since the ABS started this data series in 2002,” Devitt said.

“Tax reform is needed to bring investors back to the new housing market, especially with respect to the punitive surcharges imposed on foreign investors.

“Macroprudential rules need to make it easier for gainfully employed Australians to obtain a mortgage.”

There were 2740 new loan commitments for the construction of dwellings in March, while 1641 new loans were delivered for the purchase of newly erected dwellings, and 21,971 for the purchase of existing dwellings.

South Australia had the second highest rise in the total number of loans for house construction or purchase issued in the three months leading to March, with a 4.6 per cent increase.

– Isabella Kelly