HVS is Thrilled to Announce the Return of Henrich Huang and Chariss Kok to Our Team in Key Leadership Roles

Henrich Huang returns as Senior Vice President with extensive expertise in hospitality and real estate. Previously a Director at HVS's Shenzhen office and most recently serving as Vice President at Hopson Development, Henrich will now focus on driving growth in North Asia, including Taiwan, Japan, and South Korea, for the HVS APAC team.

Chariss Kok rejoins HVS as Vice President, bringing extensive expertise in hospitality, real estate, and finance. Her career includes prior roles at HVS and City Developments Limited (CDL), supported by her Bachelor of Arts in Hospitality Management from the Glion Institute of Higher Education and a Master of Science in Real Estate from the National University of Singapore.



We are excited to have both of them back on board and look forward to their contributions to our continued success.

LOTTE REITs to Acquire L7 Hotels Gangnam Tower for KRW330 Billion

South Korea-based LOTTE REIT Co., Ltd. is set to purchase the L7 Hotels Gangnam Tower, a hotel and office complex for KRW 330 billion from Mastern General Private Equity Real Estate Investment Trust No. 29, an investment arm of the South Korea-based Lotte Group. The L7 Hotels Gangnam Tower is a 30-storey building that includes the 333-key L7 Gangnam Hotel, occupying levels nine through 27, with the remaining levels designated for office use. The hotel, located in Gangnam, is just a minute’s walk from the Seolleung subway station and offers meeting rooms, a business center, and various dining options.

Schwartz Family Company Acquired Leura Gardens Resort for AUD25 Million

Australia-based Schwartz Family Company has finalised the purchase of the freehold 92-key Leura Gardens Resort from The Elanor Hotel Accommodation Fund, managed by Australia-based Elanor Investors Group for AUD25 million. Situated on a 1.88-hectare site near the World Heritage-listed Blue Mountains National Park, the resort underwent an extensive refurbishment in 2023 and offers extensive conference and event spaces, as well as numerous recreational facilities. This acquisition represents the company’s 15^th hotel in Australia and strengthens Schwartz Family's presence in the New South Wales Blue Mountains, complementing their existing properties nearby, the 224-key Fairmont Resort Blue Mountains - MGallery Collection and Leura Golf Club. The resort will be managed by Australia-based Trilogy Hotels Pty Ltd.

Hostel Brand Selina Sold to Collective Hospitality

Singapore-based Collective Hospitality, the lifestyle division of Thailand-based Destination Group, has acquired the majority of UK-based Selina Hospitality PLC (“Selina”), a company which focuses on hostels targeted at younger travellers, for an undisclosed sum. The transaction includes about 100 hotels that are on long-term lease and managed by Selina, as well as the travel company, Remote Year. Collective Hospitality currently operates about 15 properties under brands including Bodega Hostels, Slumber Party, and Socialtel Resorts in Thailand and the rest of Southeast Asia while Selina’s properties are in 22 countries across Latin America and Europe. Destination Group will review the existing Selina properties and consider which one to rebrand to the Socialtel Resorts brand in the next six months. 

Dusit Hotels and Resorts Enters Strategic Partnership with Generator and Freehand Hotels

Dusit Hotels and Resorts, the hospitality division of Thailand-based Dusit Thani Public Company Limited (“Dusit International”), is set to form a strategic alliance with Generator and Freehand Hotels, two brands owned by UK-based Queensgate Investments LLP. This collaboration will enable Dusit Hotels and Resorts to expand its brands into European and US cities, while Generator and Freehand Hotels will introduce their hotel-hostel hybrid model to locations where Dusit International operates. Dusit International currently boasts a portfolio of 57 hotels in 18 countries, while Generator and Freehand Hotels manage 21 properties worldwide.

Correction for Last Week’s Newsletter Titled Star Asia Acquires Four Hotels in Japan for JPY34.7 Billion

“Japan-based REIT Star Asia Investment Corporation (“Star Asia”) have acquired three hotels in Tokyo and one hotel in Osaka for a total sum of JPY34.7 billion. The three Tokyo-based hotels that were acquired are the 188-key Koko Hotel Tsukiji Ginza that was bought for JPY17 billion, the 42-key Koko Hotel Residence Asakusa Tawaramachi for JPY5.9 billion, and the 47-key Koko Hotel Residence Asakusa Kappabashi for JPY4.3 billion. The Osaka-based hotel is the 211-key Koko Hotel Osaka Shinsaibashi that was acquired for JPY7.5 billion. These hotels are operated by Star Asia’s subsidiary, Polaris Group.”

Absolute Share Price Performance, as of 30 August 2024

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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