Hotel Properties Limited Acquires Concorde Hotel in Singapore

Singapore-based Hotel Properties Limited (“HPL”) has acquired the 407-key Concorde Hotel and three-storey retail podium along Orchard Road for SGD821 million in Singapore. This includes an additional charge of SGD213 million to top up the existing land lease to 99 years. The site measures approximately 9,255 square metres which translates to a sale price of approximately SGD88,700 per square metre of potential built area. The current plan outlined for the redevelopment of the area indicates that 40% of the area will be used for hotel accommodations, 40% for residential purposes, and 20% for commercial spaces.

 

Hong Kong-based Emperor Entertainment Hotel Limited (“Emperor Entertainment Hotel”) has agreed to sell The Unit Davis, a 57-unit serviced apartment block, in Hong Kong’s Kennedy Town area for HKD701 million, or HKD12.3 million per key, including debt to a vehicle linked to a local investor. The buyer will pay a cash consideration of HKD267.7 million and assume a HKD433.3 million shareholder loan associated with the property. The 22-storey property is located two minutes away from Kennedy Town MTR station by foot and has a gross floor area of 1,917 square metres with a ground-level retail podium.

 

AB Capital Acquires Ai Hotel Keikyu Kamata-ekimae in Tokyo, Japan

Hong Kong-based AB Capital Investment Limited (“AB Capital”) has acquired 219-key Ai Hotel Keikyu Kamata-ekimae for an undisclosed sum. The 13-storey hotel, located near Keikyu Kamata Station in Tokyo, is slated for renovation and is expected to reopen by early 2025. It will reopen under Japan-based APA Hotels brand and managed by Japan-based Aoki Corporation under a franchise agreement. The property’s prime location, just five minutes by train to Haneda Airport, enhances its appeal to both business and leisure travellers. This marks AB Capital’s second purchase in a month following its acquisition of the 175-key Vessel Inn Asakusa Tsukuba Express under the AB Capital Japan Hospitality Fund II.

 

Club Wyndham Acquires Shirakabaso Resort in Nagano, Japan

US-based Club Wyndham, a subsidiary of US-based Travel + Leisure Co., have acquired the 32-key Shirakabaso Resort in the Shiga Kogen area in Nagano, Japan for an undisclosed sum. The resort will be rebranded to Club Wyndham Shirakabaso Shiga Kogen and will be the first international resort located within the Joshin’etsu Kogen National Park. As part of the rebranding, Club Wyndham will upgrade the 32 guest suites, refresh the public spaces, rework the deck into an outdoor family-friendly space, and add a new restaurant. The property will provide guests with access to 70 ski lifts via gondola or by short-distance cross-country ski; offer ski and snowboarding equipment rentals; and offer repair services for personal equipment. The property will also feature indoor and outdoor onsen hot springs, a sauna, food and beverage options, a gift shop, and rooftop terrace. Travel + Leisure Co. oversees approximately 90 properties and develops three shared ownership clubs with more than 100,000 members: Club Wyndham South Pacific, Club Wyndham Asia and Accor Vacation Club.

 

KS Hotels and HMD Asia Acquires Two La Résidence Hotels in Laos and Cambodia

KS Hotels, a subsidiary of Thailand-based KS Group, is acquiring 34-key La Résidence Phou Vao in Luang Prabang, Laos and 59-key La Résidence D’Angkor in Siem Reap, Cambodia. The acquisition details remain undisclosed. Both properties were previously owned and managed by Bermuda-based Belmond. Cambodia-based HMD Asia will manage both properties, increasing HMD Asia’s portfolio to eight properties, including two in development. La Résidence Phou Vao has been operating under its new ownership since 1 November 2024, while La Résidence D’Angkor is undergoing renovations and is expected to reopen in late 2025.