SC Capital Partners Consortium Acquires 27-Hotel Portfolio In Japan For USD900 Million

Singapore-based SC Capital Partners Pte Ltd has formed a consortium, with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and Goldman Sachs Asset Management, to acquire a 27-resort hotel portfolio in Japan for USD900 million, from Japan-based Daiwa House Industry. The 7,124-key portfolio consists of hotels located in key tourist destinations all over Japan, such as the 465-key Royal Hotel Okinawa Zanpamisaki. Moving forward, focus will be placed on improving top-line revenue, implementing rebranding initiatives, enhancing distribution channels, and conducting refurbishments.

 

USD200 Million Investment Into Fiji's Tourism Development Program In Vanua Levu, Set To Benefit Over 60,000 People

The Fiji Government have announced an agreement with the World Bank Group in support of Fiji’s Tourism Development Program, set to benefit over 60,000 people in northern Fiji Island, Vanua Levu. The agreement for the program, worth USD200 million, was first approved in June 2023 and is among the largest World Bank-supported projects in Fiji. The program follows a long-term strategy of 10 years, aimed to boost the Fiji Tourism Industry Sector in Vanua Levu. The project will debut in phases, it will include infrastructure development projects for the upgrade and expansion of both Labasa and Savusavu airports, roads between Savusavu and Labasa set to stimulate economic activities directly linked to the tourism industry.

 

United Airlines To Launch New Flights To Asia-Pacific Region

United Airlines (United), among the major U.S. carriers, is capitalizing on the post-pandemic travel boom in the Asia-Pacific region by introducing new and expanded flight routes. Starting in October 2023, United will be the first U.S. airline to offer a direct flight from San Francisco to Manila, Philippines. Additionally, they are launching a new flight from Los Angeles to Hong Kong, increasing the frequency of flights from San Francisco to Taipei, and reinstating the Los Angeles to Tokyo's Haneda Airport route. With a strong presence in the region, United is optimistic about the potential for growth and expansion in Asia, despite challenges in China's international flights. The focus on new flight routes signifies United's commitment to tapping into the lucrative Asia-Pacific market and catering to the increasing demand for international travel.

 

Ho Chi Minh City To Have Five More Tourism Waterways By 2024

The Ho Chi Minh City (HCMC) Department of Transport has revealed plans for the development of five more waterways by 2024. The waterways would operate between the Binh Duong, Ba Ria-Vung Tau, and Tien Giang provinces, via two inner-city and three inter-provincial routes that would facilitate tourism. Along the first inner-city route, spanning 13 kilometers long, travelers are able to visit tidal barrages, commercial centres, and tourist sites. Similarly, for the second inner-city route which spans ten kilometers, visitors are able to stop by tourist attractions, shopping centres, and dining areas. The inter-provincial routes range from 79 to 225 kilometers long, with ferries expected to accommodate 250 passengers, 100 motorbikes, and 100 cars or trucks along one of the inter-provincial waterway routes.

 

Co-Living Operator Hmlet Rebrands To Habyt

Following a merger with Berlin-based, co-living startup, Habyt in April 2022, Singapore-based co-living operator Hmlet will be rebranding to Habyt, as part of the company’s growth strategy. In partnership with UK-based, global design agency, DesignStudio, the rebranded Habyt aims to eliminate the traditional barriers associated with housing. The company’s strategy will centre on providing guests with a utilitarian experience, through aspects of visual identity such as via architectural floor plans and a new bespoke logo.

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.

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