HVS Asia Pacific Hotel Transactions Bulletin Week Ending 7 August 2026

CapitaLand Ascott Trust to Acquire Coliwoo Midtown for SGD134 Million in Singapore

Singapore-based CapitaLand Ascott Trust (“CLAS”) has agreed to acquire the 212-room Coliwoo Midtown in Singapore from Coliwoo (TK) Pte. Ltd., a joint venture between Singapore-based Coliwoo Holdings Limited and Singapore-based Macritchie Developments Pte. Ltd., for SGD134 million, or approximately SGD632,000 per key. Coliwoo Midtown occupies a leasehold site with approximately 51 years of remaining lease tenure. Subject to regulatory approval, CLAS may be able to top up the lease to a fresh 99-year term. Originally known as the GSM Building, the property was acquired by Coliwoo for SGD80 million in 2023 and subsequently converted into a co-living development. The property commenced operations in March 2026 and has a gross floor area (“GFA”) of approximately 5,839 square metres (“sqm”). The six-storey property features a gym, two cafés, a meeting room, a co-working lounge, as well as ice bath and sauna facilities. Upon completion of the acquisition, Coliwoo will lease back the property under a 10-year triple-net master lease, with an option to extend for a further 10 years. The lease provides for fixed rental income with annual indexation. The acquisition represents an EBITDA yield of 4.1%, 180 basis points above the 2.3% exit EBITDA yield achieved from CLAS’s recent divestment of the 336-key The Robertson House by The Crest Collection. 

Koramco and Paradise Complete Acquisition of K Square Hongdae in Seoul, South Korea

South Korea-based Koramco Asset Management Co., Ltd. (“Koramco”) and South Korea-based Paradise Group (“Paradise”) have completed the acquisition of K Square Hongdae in Seoul’s Mapo District on 30 July 2026. Koramco was selected as the preferred bidder after submitting a bid of approximately KRW150 billion, equivalent to approximately KRW13.5 million per square metres, during the tender process in March 2026. Paradise participated in the acquisition through a KRW25 billion common equity investment. Located at 161 Yanghwa-ro in Hongdae’s high-street commercial district, the property currently comprises office and retail space with a GFA of approximately 11,146 sqm. Following the acquisition, Koramco and Paradise plan to redevelop the asset into a hotel. The transaction further expands Koramco’s hospitality investment portfolio following its recent acquisition of 336-key Mercure Ambassador Dongdaemun, while the asset manager is also pursuing the acquisition of the 513-key Maison Glad Jeju. 

MIRAI Acquires Randor Hotel Kyoto Suites for JPY3.55 Billion in Japan

Mitsui Bussan & IDERA Partners Co., Ltd., the asset management company of Japan-based MIRAI Corporation (“MIRAI”) has agreed to acquire the 60-key Randor Hotel Kyoto Suites in Kyoto, Japan, for JPY3.55 billion, or approximately JPY59 million per key. The property occupies a site of approximately 1,884 sqm in Kyoto’s Minami Ward and comprises around 3,730 sqm of GFA across six storeys. It is located approximately a nine-minute walk from Tofukuji Station, which is served by the JR Nara Line and the Keihan Main Line. Each room features a kitchen, dining area, bathroom, and laundry facilities, with selected rooms also offering spa baths and open-air baths. The hotel is currently subject to a master lease with Japan-based Satisfill Co., Ltd., under which rental income comprises a fixed component and a variable component equivalent to 40% of gross operating profit (“GOP”). The acquisition price is below the property’s appraised value of JPY4.91 billion as at 31 July 2026 and reflects an estimated net operating income (“NOI”) yield of 4.6% after depreciation. The property was acquired by Hong Kong-based AB Capital in 2024 for an undisclosed sum. 

Former Chi Residences 314 Sold for HKD174 Million in Hong Kong

The former 59-key Chi Residences 314 was sold to an undisclosed purchaser for HKD174 million, translating to approximately HKD2.95 million per key. Located at 314–324 Nathan Road in Jordan, Kowloon, the serviced apartment property comprises 59 fully furnished units with a total saleable area of approximately 2,832 sqm. Prior to ceasing operations in June 2026, the property was leased at a monthly net rent of HKD820,000. The property is within walking distance of Jordan MTR Station and enjoys convenient access to Tsim Sha Tsui, West Kowloon and Hong Kong’s central business district.

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