Hoshino REIT is Acquiring The B Asakusa for JPY5.6 Billion

Japan-based Hoshino Resorts REIT, Inc. (“Hoshino REIT”) is acquiring The B Asakusa in Tokyo for JPY5.6 billion from Japan-based Mitsubishi Estate Co., Ltd.. Located in front of the Asakusa Station, the 166-key property is just 4-minute away from the famous temple Sensoji. The property is located on a 728 square metres land lot with a total floor area of 5,244 square metres. The property will be leased out with an annual fixed rental income of JPY132 million.

Melbourne’s Lygon Lodge was Acquired for AUD17.4 Million

A China-Based hotel operator has acquired Lygon Lodge from a family for AUD17.4 million. The 60-key property is situated 500 metres north of Melbourne, in one of Melbourne’s best-known retail and hospitality precincts, with the University and Medical Precinct in immediate proximity. The 1,019 square metres site also comprises two large, licensed restaurants on the ground floor. With a 50-year operation history, Lygon Lodge was an outstanding opportunity for any hotel operator, investor or developer, be it leaving the hotel as it is or refurbishing throughout. 

SUGGEST’s New-Built Hotel Sold in Atami, Japan

HOTEL MAGNET (Tentative Name) by Japan-based SUGGEST CO., LTD (“SUGGEST”) has been recently transacted at an undisclosed sum. The property located in Atami, Japan sits on a site of 525 square metres, and with a gross floor area of 2,294 square metres. The hotel was designed as a reimagined roadside hotel and consists of 33 luxurious guest rooms with ocean views, a hot spring bath in the basement floor, and a parking space. The hotel is ideal for both business and leisure use, as it is situated in an area that is easily accessible from Tokyo.

Dusit International is Set to Expand its Global Footprint

Thailand-based Dusit International (“DI”) has announced its plan to expand its portfolio of international properties. DI is opening 14 new properties across Asia, Africa, and Asia this year, including the Dusit Suites Athens, DI first hotel in Europe, and Dusit Princess Hotel Residences Nairobi, a mixed-use project in Africa in March. DI is also introducing its brands to Japan this year by opening two hotels in Kyoto: ASAI Kyoto Shijo and Dusit Thani Kyoto. DI is expected to operate 62 hotels across 17 countries worldwide by the end of the year, with more than 60 properties in the pipeline.

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