Redcape Hotel Group reaffirmed earnings guidance for the year 2020. Redcape Hotel Group Management Ltd, as responsible entity of the Redcape Hotel Group announces that it has exchanged contracts to divest the St George Hotel, Belmore in NSW for $47.1 million which represents a 2.7% premium to the June 2019 independent valuation. The sale demonstrates the value underpinning the Group's portfolio of high-quality freehold assets, many of which are located in high population growth areas of Sydney. The company reaffirmed that its guidance for fiscal year 2020 remains unchanged post settlement of the sale.