Japan Hotel REIT Investment Acquires Three New Assets In Key Japanese Locations

Japan Hotel REIT Investment Corporation (JHR) has announced the acquisition of three new hotel assets of about JPY18,926 million , bolstering its portfolio. The properties include La'gent Stay Sapporo Odori, Oriental Hotel Kyoto Rokujo, and Hotel Oriental Express Fukuoka Nakasukawabata. JHR's strategy is to offer investors opportunities in hotels that combine stability and growth potential. These acquisitions align with this strategy, with each hotel strategically located in areas with strong demand for accommodations. La'gent Stay Sapporo Odori in Sapporo offers various room types, including those with natural hot springs which are advantageous in capturing leisure demand. Oriental Hotel Kyoto Rokujo in Kyoto features attractive Japanese cultural designs with easy access to various tourist attractions, and Hotel Oriental Express Fukuoka Nakasukawabata in Fukuokawith with easy access JR Hakata Station and Tenjin Station on the Fukuoka City Subway Airport Line and caters to both business and leisure travelers. These acquisitions reflect JHR's commitment to providing investment opportunities in Japan's top tourist destinations. 

Asia's richest, including the IOI Group brothers, ramp up hotel investments in Singapore

Several Asian billionaires, including Lee Yeow Chor and Lee Yeow Seng of IOI Group, are investing over SGD 6 Billion to build new hotels and expand their operations in Singapore due to the country's robust travel rebound. The Singaporean government expects up to 14 million tourists to visit in 2023, with projected spending of SGD21 billion. This surge in tourism has driven up room rates, with the average room rate reaching SGD880 per night this September, a 27% increase from the previous year. Notably, hotels near the Formula One circuit have charged premium rates, with Marina Bay Sands reaching around SGD2,000 per night during the race weekend. Singapore's prominent shopping strip, Orchard Road, will also house new hotels as part of a revitalisation plan. Various billionaires, including those from Hong Kong, Indonesia and Malaysia, are investing in Singapore's thriving hotel industry, further enhancing the country's position as a top tourist destination. 

Phuket stakeholders embrace the potential of Phang-Nga Airport project

The construction of a new airport hub in Phang-Nga, Thailand, by the Airports of Thailand (AOT) organisation, has received positive feedback from local stakeholders. Part of the Andaman-Lamphun project, which involves building two airports in Lampuhun and Khok Kloi in Phang-Nga, the new airports aim to alleviate the infrastructure strain in the region. Its proximity to Phuket, where there's a demand for a second hub to handle the influx of tourists and expatriates migration to Phuket and Khao Lak, is essential for the long-term growth of Phuket and the Andaman region. While concerns exist regarding infrastructure and environmental impact, stakeholders believe that with sustainable construction and upgrades, the airport can boost the local economy, create jobs, and reduce the environmental and infrastructure pressure on Phuket.

Skypark Lucean Jomtien Pattaya: Banyan Tree’s New Luxury Condominium Project

Lunique Real Estate Company Limited announced the launch of its latest project, Skypark Lucean Jomtien Pattaya, a brand of Banyan Tree Group. Located at the heart of Jomtien, the development is adjacent to Jomtien Beach. Remaining units start from 3.6 million baht, the development, totalling an investment of up to 1 billion baht. With panoramic sea views from all units, the property covers eight rai or 6.25 HA. The project is divided into two development phases. The first phase is made up of two buildings which have 60 floors and 30 floors with 889 units. Being a part of Banyan Tree Group network, every unit owner at Skypark Lucean Jomtien Pattaya will automatically become a member of The Sanctuary Club. Overall, the development located on the Eastern Economic Corridor has numerous economic opportunities and has gained considerable attention.

China launches first cross-sea bullet train line near Taiwan Strait

China launched its first high-speed rail line that bridge across ocean bays, skimming along the coast of the southeastern province of Fujian. A bullet train departed from Fuzhou, the capital of Fujian province on morning of 28 September 2023, opening up the 277km Fuzhou-Xiamen-Zhangzhou railway. It is China's first cross-sea, rapid line with bullet trains that will travel over bridges, cutting across three coastal bays and reaching top speeds of 350 km/h. Travel time between Fuzhou and Xiamen, an economic hub and popular tourist locale, will be under an hour. China Railway Siyuan Survey and Design Group designed the railway project, which adds to the country's sprawling high-speed rail network. By 2022, China had 42,000km of operational high-speed railway, and nearly 3,200 km of that regularly operated at 350 km/h. Overall, this new high speed rail will enhance the general connectivity over China’s east coast, boosting travel in the region.

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