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JBAM Acquires Mercure Ambassador Seoul Hongdae for KRW300 Billion in South Korea
JB Asset Management (“JBAM”), a subsidiary of South-Korea based JB Financial Group, has acquired 270-key Mercure Ambassador Seoul Hongdae from South Korea-based fund manager, Hyundai Asset Management, for KRW300 billion. Following the acquisition, Japan-based Sotetsu Hotels Management Co. Ltd will take over as the hotel’s operator. Mercure Ambassador Seoul Hongdae, located in the vibrant Hongdae area, features 24 floors and a total floor area of 17,058.52 square metres. The property includes a restaurant, bar, coin laundry and two meeting rooms and is just a two-minute walk from Hongik University subway station.
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Hillhouse Announced Offer to Buy Out Samty Holdings
Hong Kong-based private equity firm, Hillhouse Investment Management Ltd (“Hillhouse”), announced a tender offer to buy out the common shares in Japan-based developer Samty Holdings Co., Ltd. (“Samty Holdings”) in a deal which values Samty Holdings at JPY169 billion with the objective of taking Samty Holdings private. The tender offer reflects a per share value of JPY3,300 each and represents a 14.1 percent premium to Samty Holdings’ highest ever share price. Samty Holdings’ largest shareholder Japan-based Daiwa Securities Group Inc. will continue to be a shareholder and support growth of Samty Holdings to maximize its corporate value together with Hillhouse. Samty Holdings boasts a strong portfolio of high-quality multi-family residential and hotel properties, with a total of 23 hotels amounting to 3,549 rooms.
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Prime Hotels Acquires Waipuna Hotel & Conference Centre in New Zealand
New Zealand-based Prime Hotels, a subsidiary of Primepropertygroup, have acquired the 148-key Waipuna Hotel & Conference Centre in Auckland for an undisclosed sum. The property features 17 conference rooms, a swimming pool, fitness centre, on-site restaurant and bar, 300 free parking spaces, and a 400-seat theatre. It is located near major transport links such as various train stations, the bus exchange, and the motorway and is 20-minutes away from Auckland’s city business district by driving. Upon acquisition, Prime Hotels’ portfolio will comprise of nine properties with a total of 646 rooms across New Zealand.
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CDL Hospitality Trusts Acquires Hotel Indigo Exeter in The United Kingdom as Part of GBP19.4 Million Deal
CDL HBT Investments (III) Property Limited and CDL HBT Investments (III) Retail Limited, indirect wholly owned subsidiaries of Singapore-based CDL Hospitality Trusts have acquired the 104-key Hotel Indigo Exeter and two retail units for GBP19.4 million from Hotel Exe Limited, Plaza Properties (Holdings) Limited, and Plaza Retail (Holdings) Limited through an asset and business purchase agreement. The freehold, upscale lifestyle boutique hotel features three on-site food and beverage establishments, a spa, and a fitness centre. It is located at the entrance of the Princesshay Shopping Centre, in close proximity to major transport nodes, various attractions, and the commercial district. The Hotel was fully operational in October 2023 after undergoing an extensive conversion and will continue to operate under the “Hotel Indigo” brand name under a franchise agreement with UK-based InterContinental Hotels Group.
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Sunset Hospitality Will Rebrand Hotel Fort Canning to Mett Singapore
UAE-based Sunset Hospitality Group (“Sunset Hospitality”) announced their takeover of the space occupied by Hotel Fort Canning Singapore through its hotels and resorts unit, Mett Hotels & Resorts from Singapore-based Eng Wah Global. The Hotel Fort Canning will be renovated and rebranded to the Mett Singapore hotel by Q3 2025 to feature various lifestyle and entertainment options, ranging from beach clubs, restaurants to nightlife. This deal comes two months after Sunset Hospitality’s acquisition of Hong Kong-based food & beverage group Maximal Concepts and is part of Sunset Hospitality’s global expansion strategy.
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Absolute Share Price Performance, as of 18 October 2024 | |
| Closing Share Price | 18 October 2024 | 11 October 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 11.24 | 10.90 | 3.1%
| | General Property Group | 5.06 | 5.03 | 0.6%
| | Mirvac Group | 2.20 | 2.22 | -0.9%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 37.50 | 38.50 | -2.6%
| | Dusit Thani Public Co Ltd | 11.30 | 11.30 | 0.0%
| | The Erawan Group Public Co Ltd | 4.24 | 4.38 | -3.2%
| | Grande Asset Hotels & Property Public Co Ltd | 0.11 | 0.11 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 38.50 | 38.00 | 1.3%
| | Minor International Public Co Ltd | 28.75 | 29.00 | -0.9%
| | S Hotels and Resorts Public Company Limited | 2.32 | 2.34 | -0.9%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.59 | 6.70 | -1.6%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.10 | 3.21 | -3.4%
| | Guangzhou Lingnan Group Holdings Company Limited | 9.24 | 9.34 | -1.1%
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| Huazhu Group Limited | 39.84 | 40.00 | -0.4%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.45 | 9.37 | 0.9%
| | Regal Hotels International Holdings Ltd | 2.55 | 2.55 | 0.0%
| | Sino Hotels Holdings Ltd | 1.35 | 1.39 | -2.9%
| | The Hong Kong & Shanghai Hotels Ltd | 5.67 | 5.58 | 1.6%
| | Shangri-La Asia Limited | 5.74 | 5.72 | 0.3%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 861.00 | 885.90 | -2.8%
| | IHCL (Taj Hotels, Resorts & Palaces) | 685.80 | 706.25 | -2.9%
| | EIH (Oberoi Hotels & Resorts) | 405.00 | 432.50 | -6.4%
| | Hotel Leela Ventures | 19.24 | 15.05 | 27.8%
| | Lemon Tree Hotels Ltd | 125.01 | 125.85 | -0.7%
| | Mahindra Holiday & Resorts | 381.90 | 394.70 | -3.2%
| | Royal Orchid Hotels | 335.80 | 362.00 | -7.2%
| | SAMHI Hotels Limited | 195.01 | 204.00 | -4.4%
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| The Shilla | 45100.00 | 45600.00 | -1.1%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.59 | 0.60 | -0.8%
| | ARA Htrust (US$) | 0.25 | 0.25 | 0.0%
| | Ascott Residence Trust | 0.95 | 0.96 | -0.5%
| | Banyan Tree Holdings Limited | 0.35 | 0.36 | -1.4%
| | CDL Hospitality Trusts | 0.98 | 0.98 | 0.0%
| | Far East Hospitality Trust | 0.64 | 0.64 | 0.8%
| | Frasers Hospitality Trust | 0.45 | 0.45 | 1.1%
| | Hotel Grand Central Ltd | 0.73 | 0.73 | 0.0%
| | Hotel Properties Ltd | 3.64 | 3.68 | -1.1%
| | Mandarin Oriental International Ltd (US$) | 1.75 | 1.75 | 0.0%
| | Stamford Land Corporation Ltd | 0.37 | 0.38 | -1.3%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 203.00 | 202.50 | 0.2%
| | The Ambassador Hotel, Ltd | 62.40 | 60.80 | 2.6%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 70400.00 | 70500.00 | -0.1%
| | Imperial Hotel, Ltd | 931.00 | 930.00 | 0.1%
| | Red Planet Japan Inc | 1210.00 | 935.00 | 29.4%
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