HVS Asia Pacific Hotel Transactions Bulletin Week Ending 29 May 2026

CLAS Divests The Robertson House by The Crest Collection for SGD360 Million in Singapore

Singapore-based CapitaLand Ascott Trust Management Limited (“CLAS”), has agreed to divest the 336-key The Robertson House by The Crest Collection in Singapore to an unrelated third party for SGD360 million, reflecting approximately SGD1.07 million per key. Formerly operating as Riverside Hotel Robertson Quay, the property underwent a comprehensive renovation and was repositioned under The Crest Collection brand in 2023. The property spans 11,056 square metres (“sqm”) of gross floor area and offers a range of facilities including a swimming pool, fitness centre, club lounge, meeting and event spaces, as well as two food and beverage outlets. The property is held on a 99-year lease commencing from 27 November 2006, with approximately 79 years remaining. Situated within the Robertson Quay precinct, the hotel is within walking distance of Fort Canning MRT station, Clarke Quay, and various dining and lifestyle offerings along the Singapore River. The agreed sale price is 4.0% above the property’s book value, with an exit yield of 2.3%. CLAS is expected to recognise a net gain of approximately SGD38.1 million from the divestment.

GIC-PAM Consortium was Selected as Preferred Bidder for Acquisition of Two Hotels for KRW210 Billion in South Korea

A consortium formed by Singapore-based sovereign wealth fund, GIC Private Limited (“GIC”), and South Korea-based Pacific Asset Management Co. Ltd. (“PAM”) has been selected as the preferred bidder for the acquisition of 163-key Hotel Peyto Samseong and 186-key Hotel Peyto Gangnam for KRW210 billion in Seoul, South Korea. Hotel Peyto Samsung was originally completed in 1993 and occupies a site area of approximately 527 sqm with a gross floor area (“GFA”) of 7,183 sqm, while Hotel Peyto Gangnam was originally completed in 2015 and occupies a site area of approximately 799 sqm with a GFA of 8,997 sqm. Following the acquisition, GIC and PAM are reportedly planning to reposition and rebrand both hotels. Both properties are located within Seoul’s prestigious Gangnam area, and benefit from convenient access to major transportation nodes including Samseong Station and Yangjae Station.

Activia Acquires Hotel for JPY5.49 Billion in Okinawa, Japan

Japan-based Activia Properties Inc. (“Activia”) has agreed to acquire the 120-key Nest Hotel Naha Kumoji in Okinawa, Japan for JPY5.49 billion, reflecting approximately JPY45.8 million per key. The property is being acquired from Japan-based Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. and marks Activia’s entry into Okinawa’s hospitality market. Completed in 2021, the hotel has a gross floor area of approximately 5,437 sqm and is strategically located near the Kumoji commercial district in Naha, the capital city of Okinawa Prefecture. The property features one food and beverage outlet, a laundrette, and a car park. The property benefits from convenient access to public transport, tourism attractions and ferry terminals, positioning it as a base for broader regional tourism across Okinawa. The acquisition price is marginally below the property’s appraised value of JPY5.77 billion, representing a discount of approximately 4.9%. 

Jaleel Family Acquires Pensione Hotel Perth for Approximately AUD28.3 Million, Australia

Singapore-based Jaleel family’s JD Properties has acquired the 98-key Pensione Hotel Perth, a freehold hotel located in the heart of Perth CBD, for approximately AUD28.3 million, reflecting a price of about AUD289,000 per key. The acquisition expands the family’s growing Australian hospitality portfolio, following a series of hotel investments through its investment platform, Singapore-based High Street Holdings, including the acquisition of the 102-key George Hotel Brisbane in 2025 for approximately AUD34 million, and 120-key Peppers Kings Square Perth in 2022 for approximately AUD26 million. Positioned along Murray Street within Perth’s central retail and entertainment precinct, the hotel benefits from close proximity to Elizabeth Quay, Perth Railway Station and Underground Station, RAC Arena and other major demand generators. The property features facilities including a food and beverage outlet and an on-site car park. It is understood that JD Properties is also in the process of completing the acquisition of the 216-key Hotel Indigo Melbourne on Flinders for approximately AUD75 million.  

HKIA Terminal 2 Commence Operations in Hong Kong After Multi-Year Renovation

Hong Kong International Airport (“HKIA”) has commenced operations at the expanded Terminal 2, marking a significant milestone in the airport’s ongoing capacity enhancement programme associated with its HKD141.5 billion three-runway system expansion project. The expansion and upgrade of the Terminal 2 cost around HKD12.9 billion. Opened in May 2026, the expanded Terminal 2 comprises approximately 300,000 sqm of floor area and features 160 check-in counters, self-service bag drop facilities, biometric security screening and immigration clearance systems. The terminal is designed to handle approximately eight million passengers annually in its initial phase, with arrival facilities and a dedicated concourse scheduled to open in 2027. Upon full completion, Terminal 2 will add 27 boarding gates and enable independent arrival and departure processing. Together with Terminal 1, which has an annual passenger handling capacity of approximately 70 million passengers, the completion of the Terminal 2 project is expected to increase the entire airport’s annual passenger handling capacity from approximately 61 million in 2025 to approximately 100 million passengers, further strengthening Hong Kong’s position as a leading international aviation hub.

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