Sands to Invest USD8 Billion on Ultra Luxury Development in Marina Bay, Singapore
US-based Las Vegas Sands Corporation (“Sands”), a global developer and operator of integrated resorts as well as the parent company of Marina Bay Sands (“MBS”) in Singapore, has announced plans to invest USD8 billion in the development of a new 55-storey ultra-luxury hotel tower and entertainment complex. The 570-key all-suite hotel project will feature a multi-storey rooftop experience known as Skyloop with an observatory, restaurants and landscaped gardens. The project plan also includes a new gaming area, premium retail outlets, and a variety of F&B and wellness offerings. Adjacent to the hotel, a 15,000-seat entertainment arena is also slated for development. The venue will be integrated with the surrounding developments in the Marina Bay Precinct, providing direct access to Singapore’s rapid transit system via the Bayfront MRT station. The project is expected to be completed by June 2030, with an official opening planned for January 2031, subject to approval from the Singapore Government.
Tokyo Stock Exchange Approves Listing of Kasumigaseki Capital’s Hotel REIT
Japan-based property investor and fund manager Kasumigaseki Capital Co., Ltd. (“Kasumigaseki Capital”) has announced that its hotel-focused REIT – Kasumigaseki Hotel REIT Investment Corporation (“Kasumigaseki Hotel REIT”) – has received approval from the Tokyo Stock Exchange, Inc. (“TSE”) to be listed on the TSE Real Estate Investment Trust Securities Market. Kasumigaseki Capital’s hotel platform includes the development of multiple brands such as “FAV” and “FAV LUX” across Japan, and currently the group has a pipeline of 41 hotel projects in Japan. The group intends to leverage its development expertise and operational support capabilities to provide the REIT with acquisition opportunities and operational backing.
Mandala Hotels Expands with the Acquisition of Mercure Clear Mountain Lodge Queensland, Australia
Australia-based Mandala Hotels And Resorts Pty Ltd. (“Mandala Hotels”) has acquired the 20-hectare Mercure Clear Mountain Lodge in Queensland’s Moreton Bay region, bolstering its national portfolio to over 2,000 keys across 30 Australian properties valued at more than AUD250 million. Perched above the hinterland, the resort boasts panoramic views, rainforest walking trails and 51 guest rooms. The hotel is located a 40-minute drive from Brisbane’s Central Business District and the city’s international airport. The property features two food and beverage outlets, an outdoor swimming pool, a spa, tennis courts, and eight meeting rooms. Mandala Hotels plans a comprehensive repositioning under a new luxury brand, featuring upgraded suites, and redefined resort positioning. This acquisition underscores the group’s commitment to creating regionally distinctive hospitality experiences that celebrate natural landscapes and support local tourism growth.
Redhill Acquires Former ibis Styles Tall Trees in Canberra, Australia
Australia-based Redhill Hospitality Management Pty Ltd (“Redhill”), a company that focuses on the ownership, leasing and management of regional motels across Australia, has announced the acquisition of the former ibis Styles Canberra Tall Trees, marking its entry into the nation’s capital. The 83-key property will be rebranded as Tall Trees Ainslie Motel with a renovation plan, and reducing room count to 79. The plan includes soft refurbishment of guest rooms, conversion of an existing meeting room into a gym, and upgrades to the garden and street frontage. Existing amenities include a car park, a self-service laundry, and outdoor barbecue facilities. Located on Stephen Street in Canberra, the property is an approximate 10-minute drive from the city centre and from Canberra Exhibition Park multi-building event venue.
MORA Group Expands Hotel Portfolio with Acquisition of H- Boutique Sagan Hotel Yogyakarta in Indonesia
Indonesia-based Pt. Mercusuar Bersinar Indonesia (“MORA Group”) has bolstered its presence in Yogyakarta by acquiring the 90-key H-Boutique Hotel Jogjakarta and rebranding it under its own brand H-LAMORA Sagan Yogyakarta, marking the eighth property in its portfolio. Positioned adjacent to Galeria Mall Yogyakarta, the hotel features at least one food and beverage outlet, and multiple parking lots. Key cultural nodes, such as the Kraton Yogyakarta Palace and Prambanan Temple, are located at approximately 15 and 35 minutes by car, respectively. Importantly, the Adisucipto International Airport is situated 25-minute by car from the hotel. Earlier this year, MORA Group has also signed a Memorandum of Understanding with Indonesia-based PT Tang Bersaudara Aset. for a development of the 125-key HEMORA Balikpapan in East Kalimantan.
