HVS Asia Pacific

Dec 6, 2024 | myemail.constantcontact.com | HVS Asia Pacific

Read this and stay up-to-date with key transactions and tourism news across Asia Pacific Pavilion REIT Enters Conditional Agreements for the Acquisition of Two Hotels in Bukit Bintang for MYR480 MillionMalaysia-based Pavilion REIT Management Sdn., Bhd. (“Pavilion REIT”) have entered separate conditional agreements to acquire the 55-key Banyan Tree Kuala Lumpur from Malaysia-based Lumayan Indah Sdn., Bhd. for MYR140 million; and the 325-key PavilionHotel from Harmoni Perkasa Sdn., Bhd.

Nov 22, 2024 | myemail.constantcontact.com | HVS Asia Pacific

Vision Hotels Acquires Beachcomber Island Resort in Fiji Australia-based Vision Hotels has acquired the 50-key Beachcomber Island Resort in Fiji for an undisclosed sum, with plans for a comprehensive renovation to be completed by March 2026. The FJD10 million investment includes FJD4 million for initial renovations, with the remainder allocated for constructing new luxury bures. The renovation will be executed in phases.

Nov 15, 2024 | myemail.constantcontact.com | HVS Asia Pacific

Grande Asset Sells Hyatt Regency Bangkok Sukhumvit for THB5.055 Billion in ThailandGrande Asset Hotels and Property Public Company Limited (“Grande Asset”), a subsidiary of Thailand-based Property Perfect Public Company Limited (“Property Perfect”), has sold the 273-key Hyatt Regency Bangkok Sukhumvit for THB5.055 billion to an undisclosed buyer. This transaction is notable as the largest single-asset hotel sale in Thailand to date.

Nov 8, 2024 | myemail.constantcontact.com | HVS Asia Pacific

Hotel Properties Limited Acquires Concorde Hotel in SingaporeSingapore-basedHotel Properties Limited (“HPL”) has acquired the 407-key Concorde Hotel and three-storey retail podium along Orchard Road for SGD821 million in Singapore. This includes an additional charge of SGD213 million to top up the existing land lease to 99 years. The site measures approximately 9,255 square metres which translates to a sale price of approximately SGD88,700 per square metre of potential built area.

Oct 25, 2024 | myemail.constantcontact.com | HVS Asia Pacific

MCK Acquires The Mayfair for NZD31.9 Million in Christchurch, New ZealandMillennium & Copthorne Hotels New Zealand Limited (“MCK”), a subsidiary of Singapore-based City Developments Limited, is acquiring The Mayfair, a 67-key hotel in Christchurch, New Zealand, from New Zealand-based Mayfair Luxury Hotels Limited and the Stapley family for NZD31.9 million.