Pro-invest Acquires Coogee Sands Hotel & Apartments in Australia

Australia-based Pro-invest Asset Management Australia Pty Ltd (“Pro-invest”), in partnership with MEC Global Partners Asia Pte. Ltd., the investment arm of Japan-based Mitsubishi Estate Co., Ltd., has acquired the 80-key Coogee Sands Hotel & Apartments in Sydney, Australia. It is understood the total acquisition and capital expenditure committed is approximately AUD100 million, translating to AUD1.25 million per key. The property offers a mix of guestrooms and apartments ranging from Deluxe Studios to One-Bedroom Apartments. Located in Coogee, a beachfront suburb approximately 15 minutes from Sydney’s central business district and Sydney Airport, the hotel sits just 20 metres from Coogee Beach. The property is currently closed and undergoing renovation and reposition, targeting to re-open in Q4 2026. The acquisition will serve as the seed asset for Pro-invest’s broader urban accommodation platform strategy focused on Australian gateway cities, with the group targeting approximately AUD500 million in investments under the initiative.

Shama Hollywood Hong Kong Divested for HKD203.8 Million in Hong Kong

Hong Kong-based Tai Hung Fai Enterprise Co. Ltd. (“THF”) has reportedly sold Shama Hollywood Hong Kong, a serviced residence located at 52 Hollywood Road in Central, Hong Kong, for approximately HKD203.8 million. The 12-storey property comprises 11 serviced apartment units with a total gross floor area of approximately 806 square metres ("sqm"), which translates to approximately HKD18.5 million per key or HKD253,000 per sqm. Market sources indicated that the purchaser is a Southeast Asian investor intending to hold the asset for long-term investment purposes at an estimated rental yield of approximately 2.9%. THF acquired the property in 2007 for approximately HKD76 million. Following a holding period of around 19 years, the transaction is understood to have generated a book profit of close to HKD128 million, reflecting a capital appreciation of approximately 1.7 times over the investment period.

Tansei Kanko Sold Cairns Harbourside Hotel for AUD30 Million in Australia

Taisei Kanko Australia Pty Limited, the Australian subsidiary of Japan-based Taisei Kanko Co., Ltd. (“Taisei Kanko”), has sold the 173-key Cairns Harbourside Hotel in Queensland, Australia, for approximately AUD30 million, or around AUD173,400 per key. Formerly operating as the Holiday Inn Cairns, and prior to that, as a Mercure-branded hotel, the hotel underwent repositioning and refurbishment prior to reopening as the independent Cairns Harbourside Hotel in 2024. The redevelopment expanded the property from approximately 100 rooms to 173 rooms. Situated on a waterfront site of approximately 5,000 sqm overlooking Trinity Bay, the hotel features a swimming pool, spa, one restaurant and bar, and multiple meeting and function spaces. While the buyer was undisclosed, it is understood that it is the same buyer who bought the 174-key Mercure Townsville for AUD18.5 million in 2025. Taisei Kanko acquired the property in 1991 for AUD12 million. The investment rationale was also underpinned by planned infrastructure projects in the region, including the proposed AUD1 billion-plus expansion of Cairns Hospital.

Shun Ho Property Announces HKD48.1 Million Off-Market Share Buy-Back

Hong Kong-listed Magnificent Hotel Investments Limited (“Magnificent Hotel”), Shun Ho Property Investments Limited (“Shun Ho Property”) and Shun Ho Holdings Limited have jointly announced that Mercury Fast Limited, a wholly-owned subsidiary of Magnificent Hotel, has agreed to sell approximately 68.14 million Shun Ho Property shares back to the company through an off-market share buy-back. The shares represent approximately 11.75% of Shun Ho Property’s issued share capital, and were transacted at approximately HKD48.1 million. Upon completion, the repurchased shares will be held as treasury shares. Magnificent Hotel is a subsidiary of Shun Ho Property, which Magnificent Hotel owns multiple Best Western and Ramada Hotels in Hong Kong.

HVS ANAROCK India Hospitality Industry Overview 2025

By Mandeep Lamba, Dipti Mohan and Dhwani Gupta

This report highlights the key trends in the Indian hospitality industry in 2025 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2026.



To view and download the full article, please click here.

Absolute Share Price Performance, as of 15 May 2026

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