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OMO7 Osaka Purchased by Hoshino Resorts REIT for JPY 29 Billion

Hoshino Resort Asset Management Co., Ltd., the asset management company entrusted by Japan-based Hoshino Resorts REIT, Inc., has acquired the OMO7 Osaka Hotel in Osaka, Japan, from Japan-based Shin Imamiya Development Special Purpose Company for JPY 29 billion. The 436-key OMO7 Osaka Hotel offers rooms and suites, two on-site food and beverage options, meeting rooms, and a traditional Japanese public bath. After the transaction, the property will be leased to Japan-based Minami Hotel Management K.K.

Prima Asset Management Acquires the freehold Victoria Garden Hotel in London

Singapore-based Prima Asset Management has acquired the freehold Victoria Garden Hotel in the Paddington District of London, United Kingdom, for an undisclosed sum. The 68-key hotel will undergo extensive refurbishment with the aim of transforming it into an upper-upscale hotel, and increasing its key count to over 80, with an anticipated end value of approximately SGD 70 million. The hotel will be managed and operated by the UK-based Capilon Group.

The Lamai Samui Resort & Spa on Koh Samui Acquired by GOCO Hospitality

Thailand-based GOCO Hospitality have acquired The Lamai Samui Resort & Spa on Koh Samui located in Lamai Beach, Koh Samui, Thailand for an undisclosed sum. The transaction was completed in early June. The 75-key Lamai Samui Resort & Spa on Koh Samui offers both room and villa accommodation options; and features three on-site food & beverage options, a spa, a 55 square metres meeting room, an infinity pool, and a fitness center

Weave Living Partnered with KKR to Launch Weave Place Hoegi in Seoul

Hong Kong-based Weave Living and US-based KKR & Co. Inc. (“KKR”) are continuing their partnership in Korea through the joint venture’s purchase of the UnivM officetel building in Seoul for an undisclosed sum. The 14-storey, 2,868 square meter (“sqm”) property has since been renamed Weave Place Hoegi and functions as a rental residential property featuring 98 fully furnished one-bedroom units of approximately 23.8 sqm each. This acquisition follows the purchase of the 157-key State Sunyu Hotel in April 2024, which is set to open in 2025 as the flagship property of Weave Living in Seoul.

State of Michigan Investment Board Commits USD 100 Million to BGO’s Japan focused Fund

The US-based Pension Fund State of Michigan Investment Board has committed USD 100 million to the BentallGreenOak Asia (USD) IV fund, the investment vehicle of US-based BentallGreenOak (“BGO”) that focuses on Japan’s office, logistics, residential, and hospitality sectors. BGO managed USD 82 billion in assets as of March 2024 and has invested at least USD 4.4 billion in Japanese assets over the years. In 2023, BGO also acquired the 1,039-key Rihga Royal Hotel Osaka for an undisclosed sum believed to be approximately USD 385 million.

Absolute Share Price Performance, as of 14 June 2024

Closing Share Price

14 June 2024

07 June 2024

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.07

1.07

0.0%

Event Hospitality & Entertainment Ltd

11.19

12.00

-6.8%

General Property Group

4.05

4.29

-5.6%

Mirvac Group

1.89

2.00

-5.5%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

39.00

40.75

-4.3%

Dusit Thani Public Co Ltd

10.70

11.20

-4.5%

The Erawan Group Public Co Ltd

4.24

4.50

-5.8%

Grande Asset Hotels & Property Public Co Ltd

0.10

0.12

-16.7%

Laguna Resorts & Hotel Public Co Ltd

42.75

42.50

0.6%

Minor International Public Co Ltd

29.75

30.75

-3.3%

S Hotels and Resorts Public Company Limited

2.02

2.08

-2.9%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

6.38

6.51

-2.0%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

2.75

2.83

-2.8%

Guangzhou Lingnan Group Holdings Company Limited

8.27

8.58

-3.6%

NASDAQ (US$)

Huazhu Group Limited

34.12

34.85

-2.1%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

9.68

10.12

-4.3%

Regal Hotels International Holdings Ltd

2.50

2.51

-0.4%

Sino Hotels Holdings Ltd

1.50

1.43

4.9%

The Hong Kong & Shanghai Hotels Ltd

5.92

6.21

-4.7%

Shangri-La Asia Limited

5.47

5.47

0.0%

National Stock Exchange (INR)

Chalet Hotels Ltd

830.00

832.00

-0.2%

IHCL (Taj Hotels, Resorts & Palaces)

590.00

591.00

-0.2%

EIH (Oberoi Hotels & Resorts)

428.40

448.00

-4.4%

Hotel Leela Ventures

25.87

25.80

0.3%

Lemon Tree Hotels Ltd

145.00

143.80

0.8%

Mahindra Holidays & Resorts

427.00

404.10

5.7%

Royal Orchid Hotels

372.00

357.05

4.2%

SAMHI Hotels Limited

188.40

186.00

1.3%

Korea Exchange (KRW)

The Shilla

56000.00

56200.00

-0.4%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.60

0.61

-0.8%

ARA Htrust (US$)

0.29

0.28

5.5%

Ascott Residence Trust

0.89

0.90

-1.1%

Banyan Tree Holdings Limited

0.41

0.42

-1.2%

CDL Hospitality Trusts

0.96

0.97

-1.0%

Far East Hospitality Trust

0.61

0.62

-1.6%

Frasers Hospitality Trust

0.43

0.43

0.0%

Hotel Grand Central Ltd

0.76

0.77

-0.7%

Hotel Properties Ltd

3.55

3.55

0.0%

Mandarin Oriental International Ltd (US$)

1.83

1.71

7.0%

Stamford Land Corporation Ltd

0.39

0.40

-1.3%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

225.50

226.50

-0.4%

The Ambassador Hotel, Ltd

72.30

70.20

3.0%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

79100.00

79800.00

-0.9%

Imperial Hotel, Ltd

866.00

869.00

-0.3%

Red Planet Japan Inc

94.00

82.00

14.6%

For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel. 


Hok Yean Chee, Regional President – HVS Asia Pacific hychee@hvs.com


Mandeep S. Lamba, President, South Asia – HVS Anarock mlamba@hvs.com


Mei Leng Ho, Senior Vice President – HVS Singapore mlho@hvs.com


Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific fkittler@hvs.com

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