Polaris Holdings Acquires Red Planet Hotel Philippines Business

Japan-based Polaris Holdings Co., Ltd. (“Polaris”) has entered into a definitive agreement to acquire 13 hotels with 2,208 rooms operating under the Thailand-based Red Planet Hotels, as well as two land sites for potential hotel development. Of the 13 hotels, two of them are fee simple comprised of land and building ownership, while 11 others are ground leased with building ownership. On the same week, Polaris has also announced the acquisition of the 245-key Red Planet The Fort that is slated to open in 2022 and the land leasehold rights for a potential development of a new hotel in Entertainment City for JPY1.2 billion. After the completion of the two acquisitions, Polaris and its subsidiaries will operate 45 hotels with 8,135 rooms. 

Legoland Malaysia Resort Announces Enhancement Plans Amidst Tourist Revitalisation

In hopes of supporting the government’s continued effort for tourism revitalisation, LEGOLAND Malaysia Resort announced its new enhancement plans with additional theme park festive events and leisure activities. The 249-key Legoland Hotel will also undergo refurbishment on rooms with new themes and improved amenities that are expected to be completed by Q1 2023. The major enhancement plans will provide upcoming guests with new shades while browsing through iconic landmarks of LEGO builds from January 2023. LEGO Studio will create a 4D movie studio for an enhanced cinematic experience from Q3 2023. New events are in the pipeline as the first-ever water park festival will perform special shows and activities.

Nobu Hospitality Will Open its First Hotel in Danang, Vietnam by 2025

US-based Nobu Hospitality will open its first Nobu Hotel, restaurant and residences in Vietnam in a beachfront resort destination in southern coastal Danang, in collarboration with the Vietnam-based Viet Capital Real Estate and Vietnam-based Phoenix Holdings. Situated along Danang’s beachfront on Vo Nguyen Giap Street, the Nobu Hotel will occupy the tallest building in the city with 200 guest rooms, multiple meeting and event spaces, and a wellness and fitness centre. It will also offer 271 residential units with one-, two-, and three- bedroom configurations, as well as two penthouse suites. The whole development is located on top of the Danang City Centre podium, which offers high-end retail shopping, multiple high-end food and beverage outlets, and a rooftop cocktail bar and lounge.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

Related