Nomura REIT to Acquire La’gent Stay Hakodate Ekimae in Hokkaido for JPY6.3 Billion

Japan-based Nomura Real Estate Master Fund (“Nomura REIT”) is set to acquire La’gent Stay Hakodate Ekimae from Japan-based builder Daiwa House Industry for JPY 6.3 billion, with sponsorship from Nomura Real Estate Development. The 261-key hotel is located within the Hakoviva commercial complex in Hakodate, the second largest city in Hokkaido, just a one-minute walk away from the Hakodate Station. The acquisition price equates to JPY 24.1 million per key for the hotel which covers 13,303 square metres across eleven stories. 

Evason Phuket Resort Site Acquired by YTL Group

Malaysia-based YTL Corporation Berhad (“YTL Group”) have completed its 100% ownership acquisition of Singapore-based AF Global Limited’s wholly owned subsidiary RP Hotels (Thailand) Limited for a total sum of THB 1.6 billion. The deal also included certain real estate assets, namely two freehold condominium units, and two plots of freehold land in Phuket, Thailand to be utilized for hotel development. The plots of land used to be the site of the 260-key Evason Resort and Six Senses Spa.

The Jazz Corner Hotel in Melbourne Acquired by Minor Hotels

Thailand-based Minor Hotels announced their acquisition of the 101-key Jazz Corner Hotel in Melbourne, Australia for an undisclosed sum. The property is located next to the Flagstaff Gardens, and is a two-minute walk away from the Flagstaff Railway Station. The Jazz Corner Hotel features jazz themed rooms and suites, a fitness centre, and on-site food and beverage options.

Singapore’s Tuan Sing Holdings Launching First Australian-based Hospitality Venture

Grand Hotel Group, a wholly owned subsidiary of Singapore-based Tuan Sing Holdings, will launch its first Australian hospitality project at former 366-key Hyatt Regency Perth. It is located at 99 Adelaide Terrace and will be rebranded as Residence on Langley Park, which will reopen with luxury accommodation suitable for both short and long-term stay. The project will also include a new vibrant retail precinct, diverse hospitality offerings and public spaces, which is expected to be completed in 24 months.

AirAsia Announces New Direct Route between Two Indonesian Cities and Hong Kong

Malaysia-based low-cost carrier AirAsia has announced its newest routes between Indonesia and Hong Kong, offering direct flights between Bali – Hong Kong and Jakarta – Hong Kong daily. Bali is renowned for its stunning beaches such as Kuta Beach and serene Uluwatu Temple while Jakarta serves as the gateway to Indonesia’s diverse cultural and historic attractions. Official flights for the Bali – Hong Kong flight begin on 1October 2024, while flights for Jakarta – Hong Kong operates from 8 October 2024.

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