HVS Asia Pacific Hotel Transactions Bulletin Week Ending 21 August 2026

Stamford Place to Open in September Following SGD132 Million Acquisition and Revamp in Singapore

Stamford Place, formerly known as Stamford Court, is set to open in September 2026 following an 18-month restoration and repositioning into a mixed-use lifestyle destination in Singapore’s Civic District. The four-storey property, located at the intersection of Stamford Road and Hill Street, was acquired by real estate investment firm Singapore-based Elevate Capital Group, in partnership with US-based asset manager PGIM for SGD132 million. The transaction was announced in August 2024 and completed in October 2024. The revamped property will feature APT., a 66-unit boutique serviced apartment operated in partnership with Singapore-based Frasers Hospitality, alongside approximately 2,787 square metres (“sqm”) of hospitality-inspired workspace operated by The Great Room by Industrious. The serviced apartment will offer facilities including a gym and laundrettes, complemented by eight F&B and retail spaces on the ground floor and other lifestyle and cultural offerings. The repositioning adopts an adaptive reuse approach, retaining the property’s distinctive clock tower and heritage character while creating an integrated destination. 

AWC Expands Bangkok Hospitality Offering with THB2.9 Billion Plaza Athénée Hotel in Thailand

Thailand-based integrated lifestyle real estate group Asset World Corp Public Company Limited (“AWC”) plans to convert the existing River Garden property into a new ultra-luxury hotel under the Plaza Athénée brand in Bangkok. The 146-key property is expected to comprise more than 20,000 square metres (“sqm”) of gross floor area across 18 storeys, representing an investment of approximately THB2.9 billion. Located along the Chao Phraya River, the hotel will form part of AWC Riverside Journey, which currently connects 11 AWC lifestyle destinations along the river. The initiative also includes the 192-key Ritz-Carlton Bangkok, The Riverside, currently being developed by AWC in partnership with US-based Marriott International at the historic Lhong 1919 site. Both hotels are scheduled to open in 2028. AWC also plans to introduce a shared lobby concept across participating properties, providing communal spaces for guests to meet, relax and experience the riverfront. Other future components of its riverside strategy includes the upcoming MONA Bangkok, and a proposed sustainable cross-river cable car.  

NIPPON REIT Acquires 9h nine hours Hakata station for JPY2.06 Billion in Japan

Japan-based NIPPON REIT Investment Corporation (“NIPPON REIT”) has acquired 208-capsule 9h nine hours Hakata station in Fukuoka, Japan, from Japan-based TU31 Godo Kaisha for JPY2.06 billion, translating to approximately JPY9.9 million per capsule. The purchase price represents a discount of approximately 39.4% to the property’s appraised value of JPY3.4 billion. Completed in 2020, the nine-storey mixed-use property has a total floor area of approximately 1,702 sqm on a 359 sqm site. The property comprises retail space on the first and second floors, with the capsule hotel occupying the third through ninth floors and includes amenities such as a guest lounge, lockers, and shower facilities. Located approximately a three-minute walk from Hakata Station, the property benefits from direct train access to Fukuoka Airport. 

Pao Chia Group Acquires Two Motels in Taiwan 

Taiwan-based PJ Asset Management Group (“Pao Chia Group”) has expanded its motel portfolio through acquisitions of strategically located properties with redevelopment potential. In August 2026, the group reportedly acquired the 25-key Venice Motel and seven adjoining retail units along Liming Road in Taichung, Taiwan, for an estimated price of NTD2.4 billion. This translates to approximately NTD96.0 million a key. The property occupies approximately 3,606 sqm across five land parcels in Xitun District and remains operational, with the motel leased through August 2029 and the retail unit leases on a yearly renewal basis. The motel generates approximately NTD450,000 in monthly rent while the seven retail units generate a further NTD250,000 per month. The acquisition marks Pao Chia Group’s eighth motel acquisition over the past five years and follows its reported purchase of the 65-key OHYA Boutique Motel Linkou in New Taipei City for approximately NTD1.8 billion in July 2026, which ceased operations at the end of July after approximately 18 years of operation. This translates to NTD27.7 million a key. 

Eastar Jet Launches Twice-Weekly Direct Flights Between Incheon and Hohhot, China

South Korea-based low-cost carrier Eastar Jet Co., Ltd. (“Eastar Jet”) has commenced regular direct flights between Incheon International Airport, Seoul and Hohhot Baita International Airport in Inner Mongolia, China, from 6 August 2026. Eastar Jet is currently the sole carrier operating the route, providing two round-trip services per week. Flights depart Incheon every Thursday and Sunday, with return services from Hohhot every Friday and Monday. Hohhot, the capital of China’s Inner Mongolia Autonomous Region, provides access to regional cultural and tourism attractions including the Xilamuren Grassland, Xiangshawan Desert and Dazhao Temple. The new service expands direct air connectivity between South Korea and Inner Mongolia and further strengthens Eastar Jet’s network in Greater China Region. 

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