HVS Asia Pacific Hotel Transactions Bulletin Week Ending 17 April 2026

Hoshino Divests Sol Vita Hotel Naha for JPY4.65 Billion in Okinawa, Japan

Japan-based Hoshino Resorts REIT Inc (“Hoshino”) has agreed to divest 200-key Sol Vita Hotel Naha in the Matsuyama district of Naha in Okinawa for JPY4.65 billion to Japan-based Samty Co., Ltd. This translates to approximately JPY23.3 million per key. The hotel offers amenities including an on-site restaurant, internet corner, a convenience store, and a self-service laundrette. Opened in 2007, the eight-storey asset is situated approximately a five-minute walk from Miebashi Station on the Okinawa Urban Monorail (Yui Rail). The property is also within close proximity to key tourist attractions, including Kokusai Street and Tomari Port area. The property was last appraised at JPY3.56 billion as at 31 October 2025, with the sale translating to an approximate 30.6% gain over its latest valuation. 

Belmo Group Secures Management Rights for Royal Albert Hotel in Brisbane, Australia

Australia-based hotel and residential management group, Belmo Group, has acquired the management rights of the 73-key Royal Albert Hotel in Brisbane’s central business district for an undisclosed price. Originally built in 1913, the heritage property is positioned as a boutique hotel offering a mix of traditional guestrooms and extended-stay units, along with an on-site restaurant. The hotel is located in the heart of Brisbane’s Central Business District, approximately a five-minute walk from Brisbane City Hall. The acquisition strengthens Belmo Group’s presence in Queensland and aligns with its strategy to expand a portfolio of urban hotels in key Australian markets. The investment is also supported by Brisbane’s evolving tourism landscape, underpinned by major developments such as the Queen’s Wharf Brisbane precinct and the city’s role as host of the 2032 Olympic Games. 

ibis Budget Coffs Harbour Divested in New South Wales, Australia

Australia-based Iris Capital has divested 70-key ibis Budget Coffs Harbour, in New South Wales, for an undisclosed sum. The property sits on a 3,205 square metres (“sqm”) site at 1A Maclean Street, located just off the Pacific Highway, and comprises a restaurant, swimming pool, laundrette, and on-site parking. The asset was originally acquired in 2021 as part of a portfolio from Luxembourg-based Essendi, known as AccorInvest previously for AUD2.52 million. The property is approximately a 10-minute drive from Coffs Harbour Airport, and within close proximity to key leisure and tourism attractions, including The Big Banana Fun Park and the Coffs Harbour Jetty. Following the acquisition, a development approval was secured for a 9,800 sqm mixed-use scheme, comprising 98 residential units alongside commercial components. 

CLI Closes USD320 Million for Second APAC Real Estate Credit Fund ACP II

Singapore-based CapitaLand Investment Limited (“CLI”) has achieved the final close of its Asia Pacific Credit Program II (“ACP II”), securing total equity commitments of USD320 million (approximately SGD403 million). ACP II is CLI’s second Asia-Pacific real estate credit fund, bringing the total capital raised under its regional credit platform to approximately USD600 million. The fund focuses on senior secured, asset-backed real estate credit investments, with capital already deployed into five first mortgage loans backed by living, logistics, and office assets in Sydney, Australia, and Seoul, South Korea. The strategy is positioned to address growing demand for alternative financing amid tightening bank lending conditions and institutional appetite for real estate-backed credit, which offers downside protection through collateral. ACP II’s investor base comprises both new and existing institutional partners, primarily from APAC, with CLI contributing around 20% of sponsor capital. The fund supports CLI’s transition toward an asset-light, fee-based fund management model and reflects the increasing institutional interest in real estate credit as an alternative to traditional equity investments. 

Irama Debuts in Kuala Lumpur with Repositioning of Former Grand Seasons Hotel Kuala Lumpur

Malaysia-based Irama Hotel & Resorts (“Irama”) is set to debut its flagship brand with the repositioning of the former Grand Seasons Hotel Kuala Lumpur into Irama Kuala Lumpur, a 766-key hotel located in Titiwangsa Sentral along Jalan Pahang in Kuala Lumpur. Set to open in Q2 2026, the hotel’s facilities are set to include ten F&B outlets, two grand ballrooms, 12 meeting rooms, 300-seat auditorium, a fitness centre, a spa, kids’ club, an outdoor swimming pool, a dedicated pool area for kids. Irama is a newly established company specialising in acquiring and developing hotels and resorts across the region, with a five-star beach resort in the pipeline. All Irama properties are operated by Malaysia-based Partner Hotels & Resorts, which was the previous manager for the former Grand Seasons Hotel Kuala Lumpur.

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