• Rebranded and renamed company to embark on a new chapter of growth; eyes portfolio growth and diversification as well as AEIs (as defined below) to improve guest experience and optimise value of assets

SINGAPORE, Jan. 26, 2024 /PRNewswire/ — Prosper Cap Corporation Limited (“ProsperCap” or the “Company“, and together with its subsidiaries, the “Group“), a company with a focus on investing in and managing the operations of hospitality and lodging-related business, will be making its trading debut on the Singapore Exchange (“SGX“) Catalist board at 9.00 a.m. on Friday, 26 January 2024, following the completion of a reverse takeover (“RTO“) of 3Cnergy Limited. The listing ceremony of ProsperCap will be held on the morning of 29 January 2024.

Strong Potential in Post-Pandemic Travel Recovery

ProsperCap owns a portfolio of 17 predominantly upscale hotels with a total of 3,383 keys located in key regional cities in the United Kingdom operated under franchise agreements with well-known international hotel brands, namely Hilton, IHG and Marriott.

The portfolio has enjoyed a strong recovery, following the post-pandemic lifting of all social and travel restrictions worldwide. For the six months ended 30 June 2023 (“1H2023“), the Group’s hospitality portfolio registered a net profit of approximately £27.8 million on the back of revenue increasing 17.4% to approximately £67.9 million from approximately £57.9 million in the same period a year ago (“1H2022“). Similarly, overall weighted average occupancy of the portfolio improved to 77.9% in 1H2023 compared to 68.9% in 1H2022 with an overall weighted rooms revenue per available room (“RevPAR“) recovering to £75.44 in 1H2023 compared to £63.99 in 1H2022.

In order to maintain momentum and leverage the post-pandemic recovery, the Group intends to work on a number of asset enhancement initiatives (“AEIs“) aimed at maintaining and improving customer experience and thus the marketability of its existing portfolio of properties. The Group will also be actively exploring opportunities to further diversify its portfolio and expand its global footprint.

Commenting on growth plans, Chief Execut...