HVS Asia Pacific Hotel Transactions Bulletin Week Ending 19 June 2026

CapitaLand Investment Fund Acquires voco Seoul Myeongdong for KRW368 Billion in South Korea

CapitaLand Ascott Residence Asia Fund II (“CLARA II”), the private vehicle of Singapore-based CapitaLand Investment, has acquired the 576-key voco Seoul Myeongdong from South Korea-based Gravity Asset Management Group (“Gravity AM”) and US-based TPG Angelo Gordon for KRW368 billion. This translates to approximately KRW638.9 million a key. Formerly known as the Tmark Grand Myeongdong, the property was rebranded under the voco flag after its acquisition by Gravity AM and TPG Angelo Gordon for KRW228.2 billion in 2024. Located in Seoul’s Jung District, the hotel is directly adjacent to Hoehyeon Station, and benefits from proximity to Myeongdong Shopping District and Namdaemun Market. On-site facilities include a restaurant, club lounge, fitness centre, swimming pool, meeting and event spaces, and car park.  

Orchid Hotel Sold for SGD273 Million in Singapore

Singapore-based Orchid Hotel Pte Ltd, owned by the family members of the late property developer Chng Gim Huat (founder of CGH Group), has divested the 272-room Orchid Hotel and a strata office unit of 464 square metres (“sqm”) on the second floor of the hotel for approximately SGD273 million. The transaction reflects a price of approximately SGD1.0 million per key. The asset sits on a 99-year leasehold site with approximately 80 years of remaining lease tenure. Located at 1 Tras Link near the junction of Tanjong Pagar Road and Tras Link, the 20-storey strata-titled building sits within the CBD fringe and is a short walk from Tanjong Pagar MRT station. Completed in 2011, the hotel occupies Levels 4 to 20, and includes facilities such as a restaurant, swimming pool, and gym. The lower floors comprise strata retail and office units. The buyer is understood to be a joint venture majority-controlled by an entity linked to Leow Ban Leong of Singapore-based construction firm Master Contract Services Pte Ltd, with a minority stake held by Canada-based Westmont Hospitality Group, which is expected to oversee asset management and potential repositioning of the hotel following completion of the acquisition. 

Fu Family Divests Soravit on Granville Hotel for HKD370 Million in Hong Kong

Hong Kong-based Fu family has divested the 76-key Soravit on Granville hotel in Tsim Sha Tsui for approximately HKD370 million. The transaction reflects a price of approximately HKD4.9 million per key. Located at 29A Granville Road, the 17-storey asset occupies a site area of around 353 sqm and provides a total Gross Floor Area (“GFA”) of approximately 4,213 sqm. Originally redeveloped and completed in 2017 as a Thai-themed boutique hotel, the property features facilities including a restaurant space and a ground-floor retail component. The hotel is situated in the heart of Tsim Sha Tsui, within walking distance of Nathan Road, Mira Place and the Tsim Sha Tsui MTR station, providing convenient access to Hong Kong’s key retail, commercial and tourism precincts. Fu Family had reportedly acquired the original site for over HKD300 million in 2006 and subsequently invested more than HKD100 million to redevelop the property. Market sources indicate that the purchaser is likely associated with the Hong Kong-based Beppu Group. 

MIRAI Acquires Smile Hotel Kumagaya for JPY1.2 Billion in Japan

Mitsui Bussan & IDERA Partners Co., Ltd., the asset manager of Japan-based real estate investment trust MIRAI Corporation (“MIRAI”), has announced the acquisition of the 138-key Smile Hotel Kumagaya in Saitama Prefecture, Japan, for JPY1.2 billion, or approximately JPY8.7 million per key. The seller was not disclosed. The acquisition price represents an approximate 20% discount to the property’s appraised value as of 31 May 2026. Built in 1985, the hotel comprises approximately 4,029 sqm of GFA across 10 storeys and one basement level. Located seven minutes away from the Kumagaya Station, the hotel facilities include a breakfast lounge, meeting rooms, a car park, and coin-operated laundry facilities. The property is leased to Japan-based K.K. Hospitality Operations, which operates the hotel under the Smile Hotel brand, under a 20-year fixed-term lease with fixed rental income. The lease provides for rent reviews every five years, with the next review scheduled for January 2027. The acquisition forms part of MIRAI’s ongoing asset replacement strategy and is being undertaken alongside the disposal of an asset in Tokyo, Japan. 

Oaktree Capital and TLA Divest their 423-Key Japan Hotel Portfolio

A joint venture between US-based Oaktree Capital Management, L.P. (“Oaktree Capital”) and Singapore-based ICP Limited, the mother company of Travelodge Hotels (Asia) Pte. Ltd. (“TLA”), has sold a portfolio of two Travelodge-branded hotels in Japan comprising a total of 423 keys. The portfolio includes the 211-key Travelodge Nagoya Sakae, located in Nagoya’s Nishiki district. Built in 2017, the hotel comprises 13 storeys and features a restaurant, a fitness centre and a laundrette. The second asset, the 212-key Travelodge Sapporo Susukino, was completed in 2019 and spans 14 storeys. The property is within a five-minute walk of Susukino Station, and features a restaurant and a laundrette. The two hotels were acquired as a portfolio in 2022 for JPY6.5 billion, and have undergone refurbishment to rebrand as a Travelodge Hotel in 2023. The buyer and transaction price were not disclosed.

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