Tattarang’s Fiveight to Acquire Waldorf Astoria Sydney for AUD3.1 Billion

Australia-based investment company Tattarang has announced to acquire Waldorf Astoria Sydney (“WAS”) under its subsidiary Fiveight from Australia-based Lendlease Group (“LG”) and Japan-based Mitsubishi Asia (“MEA”) for AUD3.1 billion. The 200-key WAS tower will be located alongside the premium residential tower that still belongs to LG and MA, facing the Sydney Harbour. Fiveight is also acquiring approximately 430 square metres of retail space across both towers, which are being developed by LG and MEA and constructed by LG.

Nomura and Ken Corporation to Build 54-Storey Skyscraper next to Roppongi Hills

Japan-based Nomura Real Estate Holdings (“Nomura”) and Japan-based Ken Corporation Ltd. (“Ken Corporation”) is set to build a 54-storey skyscraper next to Roppongi Hills in Tokyo’s Nishi-Azabu District. The redevelopment project which was given the go-ahead by the Tokyo Metropolitan Government will feature 500 residential units, commercial facilities and an international luxury hotel brand that has yet to be announced. The redevelopment project is slated to be completed by 2028, with its end goal to create a green, multi-purpose urban area that encompasses the area’s cultural heritage and provides a focal point for local community events and activities. 

Holdmark Lodged Plans for a 59-storey Sydney Hotel Tower

Australia-based Holdmark Property Group (“Holdmark”) has lodged a State Significant Development Application for a sculptural 59-storey mixed-use tower in the Central Business District of Sydney. Situated next to the Royal Botanic Garden Sydney and Museum of Sydney, the architecture of the tower is designed by Australia-based Woods Bagot. The mixed-use development plan includes a 200-room luxury hotel that occupies level 14 to 56, a rooftop bar, eight floors of grade A office space, meeting and event rooms, retail, restaurants, and bars.

Suzhou’s Mixed-use Development China Central Place to Debut with Two Marriott Properties

China-based Huamao Group Co Ltd is developing a mixed-use development project China Central Place (“CCP”) in Suzhou. Situated in the key Shilu Commercial district of Suzhou, the development has a total floorage of 780,000 square metres which will be split between 450,000 square metres of spaces on the ground and 330,000 square metres of spaces below ground. US-based Marriott International, Inc. (“MI”) is set to debut The Ritz-Carlton (“RC”) and Marriott Executive Apartments (“MEA”) brand in the CCP development. The two properties are slated to open at the end of 2024 and mid-2025, respectively. The 190-key RC will include a range of dining options including a specialty restaurant with an open kitchen, indoor swimming pool, a fitness centre, signature Ritz-Carlton Spa, 1,243 square metres of conference and event facilities. The 270-key MEA will comprise of one and two-bedroom apartments, 31 square metres meeting room, residents lounge and a common-area that serves as a venue for breakfast and evening drinks. To date, MI currently operates 15 hotels across eight brands in Suzhou ranging from luxury brand W Hotels to select brand Courtyard by Marriott.

Lodgis Hospitality Expands Hotel Network with Hanhwa Group in Asia

Singapore-based Lodgis Hospitality Holdings Pte. Ltd (“Lodgis”) has announced a tentative agreement with Korea-based Hanhwa Group (“HG”) to develop, invest, and manage future hotel and resort projects in Asia. HG has already identified potential sites in South Korea for Lodgis’ entry into the country. Backed by US-based Warburg Pincus and Vietnam-based VinaCapital, Lodgis currently owns 11 hotels and resorts across Vietnam and Cambodia, with a significant pipeline and land bank for future projects. Lodgis aims to increase the number of keys under its operation to more than 10,000 by 2025.

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