Redcape Hotel Group (ASX:RDC) entered into an agreement to acquire Shafston Hotel from an offshore hospitality vendor on December 8, 2020. In a related transaction, Redcape Hotel Group (ASX:RDC) entered into an agreement to acquire the Aspley Hotel. The combined consideration for both transactions is AUD 27.5 million. The acquisitions will be funded from existing Group resources. And the transaction is subject to customary conditions precedent and the settlement anticipated in June 2021. As of May 13, 2021, the transaction is expected to complete on May 17, 2021. This transaction will be accretive to Distributable Earnings on joining the portfolio in FY21.