New York-based fund manager Fortress Investment Group is acquiring a resort complex in the southwestern Japanese city of Miyazaki, as an inbound tourism boom helped push acquisitions of hospitality assets to a record JPY 500 billion in 2023, according to… Read More>>
Star Asia Group to Acquire Japanese Budget Hotel Operator Minacia
Japan-focused property investor Star Asia Group has agreed to acquire Tokyo-based hotel operator Minacia from Unison Capital Partners for an undisclosed price.
Founded in 1990, Minacia runs 39 limited-service hotels with 5,180 rooms in major Japanese cities under brands such… Read More>>
KKR Teams Up With Marriott to Launch Japan Hotels After Unizo Buy
KKR has put a US brand on a set of 14 hotels that it acquired last year through its takeover of Japanese hospitality operator Unizo, with the properties to be managed under Marriott International’s Four Points Express by Sheraton.
The… Read More>>
Hotel Project on Singapore’s Orchard Road on Market for $143M
A long-delayed boutique hotel project in Singapore’s Orchard Road area has been put up for sale at an indicative price of S$195 million ($143.3 million), CBRE said Thursday.
The 115-key project is being offered to potential buyers via an expression… Read More>>
Hong Kong Hotels Neared Pre-COVID Levels With 93.4% Holiday Occupancy
Hong Kong hotels achieved an average room occupancy rate of 93.4 percent during February’s eight-day Chinese New Year holiday, just 0.4 points below the rate recorded during the same period in 2019 before the COVID-19 pandemic, according to CBRE.
The… Read More>>
Singapore’s Invictus Plans to Convert Sydney Office Block to Hotel
Invictus Developments has lodged plans to convert an office block it acquired in central Sydney last year into a 152-key hotel, moving a step closer to reaching its goal of a A$500-million ($326 million) hospitality portfolio Down Under.
In an… Read More>>
Shangri-La Returned to Profit in 2023 as Revenue Jumped 47% on Travel Recovery
Shangri-La Group reported attributable net profit of $184.1 million for 2023, reversing three consecutive years of losses as the luxury hotel owner and operator benefited from the lifting of pandemic travel restrictions in mainland China and Hong Kong, its two… Read More>>
TPG AG Teams with FEC, Atelier to Buy Frasers Singapore Apartments for $127M
TPG Angelo Gordon is teaming up with Hong Kong’s Far East Consortium and Atelier Capital Partners to acquire a hospitality asset near Singapore’s Changi airport from Frasers Property for S$170 million ($127 million), according to market sources.
The partners on… Read More>>
Hong Kong Scions Complete $75M Purchase of Osaka Hotels From CapitaLand Ascott Trust
A property investment firm backed by some of Hong Kong’s wealthiest families has completed its acquisition of a trio of Osaka hotels from CapitaLand Ascott Trust, with Axe Management Partners having paid JPY 10.7 billion ($75 million) for the assets.
Angelo Gordon-EQ JV Sells Paris Hotel to Korea’s Sono International for $130M
Springtime in Paris may be a few weeks away, but hospitality deals continue to bloom as South Korea’s Sono International has become the latest Asian investor to acquire a hotel in the City of Light with a €120 million ($130.2… Read More>>
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