After making the Lion City’s largest purchase of a single hotel earlier this week, Singapore’s Worldwide Hotels Group has followed up with an A$170 million ($112.8 million) buy of a high-rise hotel in downtown Melbourne from one of its compatriots.
Pan Pacific Selling Little India Hotel to Worldwide for $389M in Singapore Record Deal
Pan Pacific Hotels Group is selling the Parkroyal on Kitchener Road hotel in Singapore’s Little India neighbourhood for S$525 million ($389 million) in the city-state’s largest hospitality deal ever.
The hospitality arm of Singapore property conglomerate UOL Group said in… Read More>>
Singapore’s CDL Buys Seoul Hotel From Shinhan REIT for $110M
City Developments Ltd has acquired a 408-room hotel in Seoul for KRW 140 billion ($110 million), betting on strong demand driven by international visitors to South Korea.
Singapore’s biggest non-state-controlled developer bought the Nine Tree Premier Hotel Myeongdong II from… Read More>>
Shimao Clinches Deal to Restructure Sheraton Hong Kong Hotel Loans
Shimao Group on Monday announced a “definitive agreement” with lenders to restructure the existing project loan facilities of the troubled developer’s Sheraton & Four Points by Sheraton Tung Chung Hotel in Hong Kong.
Clinched last month, the loan restructuring deal… Read More>>
Amara Hotels Could Be Next Real Estate Buyout Target on the SGX
Amara Holdings said on Monday that it is in talks with its controlling shareholders regarding a potential deal, with analysts speculating that the SGX-listed hotel owner and operator could be Singapore’s latest buyout target.
Amara, which saw its stock skyrocket… Read More>>
Thai Hospitality REIT Liquidates With $106M Sale of Jakarta, HCMC Hotels
After going public less than six years ago, Thailand-listed Strategic Hospitality REIT has sold its entire three-hotel portfolio for $106.1 million, narrowly avoiding an imminent loan default.
The disposal of the three assets — the five-star Pullman Jakarta Central Park… Read More>>
KKR and Gaw to Buy Hyatt Regency Tokyo From Odakyu Electric Railway
KKR has teamed up with Hong Kong’s Gaw Capital Partners to buy the Hyatt Regency Tokyo from Odakyu Electric Railway, giving the US private equity giant its first hotel asset in Japan.
Funds managed by the two investment firms have… Read More>>
Mainland Watchdog Queries Wanda IPO Plan and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, costly provisions in a Dalian Wanda unit’s IPO plan raise eyebrows at China’s securities regulator, and Kaisa Group becomes the latest mainland developer to warn of a massive loss in its forthcoming results.
Singapore’s CDL Buys Brisbane Hotel From Brookfield for $119M
City Developments Ltd has agreed to buy a five-star hotel in central Brisbane from Canada’s Brookfield Asset Management for A$177.7 million ($119 million), as Australia continues to attract Singaporean investors.
CDL, through a joint venture equally owned by its Millennium… Read More>>
Mandarin Oriental Swings to Underlying Profit as Revenue Tops Pre-COVID Levels
Hong Kong-based Mandarin Oriental International announced a return to underlying profit in last year’s preliminary results as the hotel group’s revenue surpassed pre-pandemic levels.
The Jardine Matheson-controlled chain posted an underlying profit attributable to shareholders of $8 million for the… Read More>>
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