Mergers & Acquisitions

💰 Goldman Sachs and IGIS Asset Management were selected as the preferred bidders for Timewalk Myeongdong in Seoul, South Korea, with a bid of KRW535 billion. The property spans 37,286 sqm over 19 stories. In Sydney, Australia, BreakFree on Broadway was acquired for AUD19 million. The Staybridge Suites Bangkok Sukhumvit was acquired by the Savetsomphob family. In Japan, the Best Western Hotel Fino Tokyo Akasaka was sold by ICHIKEN Co., Ltd. South Korea designated Gyeongju and Haeundae as Global Tourism Special Zones, each receiving KRW3 billion in funding.

💸 Hongkong and Shanghai Hotels (HSH) is investing HK$2.1 billion (US$268 million) in renovations at The Peninsula Hong Kong and The Peninsula Tokyo. The focus is on enhancing and preserving the hotels' heritage. HSH reported an 8% increase in first-half group revenue to HK$3.53 billion and a 20% rise in EBITDA to HK$770 million. The timeline for the renovations has not been confirmed yet.

🚢 Four Seasons launched its 207m yacht, Four Seasons I, in March for its 65th anniversary. This 34,000-gross-ton yacht spans 15 decks with 95 suites and a one-to-one guest-to-staff ratio. It sails from the Mediterranean to the Caribbean. The itinerary includes Valletta to Monte Carlo, with stops at the Aeolian Islands and Ischia. Design by Tillberg Design of Sweden features floor-to-ceiling windows. Dining options include 11 restaurants, with highlights like Sedna and Miuna.

🏠 Lovelady Shield Country House Hotel and Cottages in Cumbria is up for sale by joint receivers. The 3.5-acre property in the North Pennines features a 16th-century manor house with 14 en-suite bedrooms and six barn-converted holiday cottages. Previously, it held planning permission for 38 holiday lets. Landwood Group and Savills are managing the sale, targeting operators and investors interested in the site's development potential.

🏨 Sixth Street acquired the Pier House Resort & Spa, a 142-room oceanfront hotel in Key West, Florida, for $190 million from Braemar Hotels & Resorts. Located on five acres at the gateway to Duval Street, it offers oceanfront dining, a spa, fitness center, pool, and private beach. The deal was supported by Riller Capital and financing from Starwood Property Trust, with legal advice from Latham & Watkins.

🏨 HHM Hotels has formed a strategic alliance with Wurzak Hotel Group (WHG), integrating WHG's managed portfolio into its platform. This includes hotels like The Dalmar in Fort Lauderdale and the Hilton Philadelphia City Avenue. Both companies have a 30-year relationship and aim to enhance owner results and staff opportunities while maintaining property ownership. HHM operates over 240 hotels in the US and Canada, while WHG has over 40 years of hotel management experience in Philadelphia.

🏨 Tampa, Florida—In 2026, the Epicurean Hotel, part of Marriott's Autograph Collection, was sold by Mainsail Lodging & Development to KHP Capital Partners. Despite the sale, Mainsail will continue operating the 188-key hotel. Originally opened in 2013, the property expanded by 2025, adding 51 rooms and new event spaces. Located near Downtown Tampa in Historic Hyde Park, the hotel is close to Hyde Park Village and Bayshore Boulevard.

🏠 Puerto Rico's southwest coast will see the development of Esencia, a $2 billion+ project by Reuben Brothers and Three Rules Capital, approved after rigorous environmental analysis. Esencia will create over 17,000 jobs and generate $7 billion in economic activity. The plan includes 500 luxury hotel rooms, 1,200 residences, and various amenities over 2,000 acres. Construction starts soon, with sales in Q4 2023 and completion by late 2029. 75% of the area will be reserved for conservation.

💰 CapitaLand Ascott Trust (CLAS) acquires Coliwoo Midtown in Singapore for SGD134 million, approximately SGD632,000 per key, on a 51-year leasehold. The six-story property features 212 rooms and will operate under a 10-year lease with annual rental indexation. Koramco and Paradise Group purchased K Square Hongdae in Seoul for KRW150 billion, planning redevelopment. MIRAI acquires Randor Hotel Kyoto Suites for JPY3.55 billion, with a 4.6% yield. Chi Residences 314 in Hong Kong sold for HKD174 million.

🏨 In 2023, Hunter Advisors sold the Hampton Inn Miami Airport East, a 127-room hotel built in 2017, to AON Hospitality Group. Located near Miami International Airport and less than a mile from the upcoming $1 billion Miami Freedom Park, the hotel features a pool, fitness center, and 748 sq ft of meeting space. This sale reflects confidence in Miami's growing market, boosted by developments like Miami Freedom Park and the Miami Financial District.