Redcape Hotel Group (ASX:RDC) exchanged the contract to acquire Gladstone Hotel for AUD 38 million on November 19, 2020. The acquisition will be funded from existing Group resources. Subject to customary conditions precedent, settlement anticipated before March 2021. The transaction will be accretive in nature. Redcape Hotel Group (ASX:RDC) completed the acquisition of Gladstone Hotel on February 1, 2021.