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Founder of SC Capital Partners Acquires Fusion Hotel Group
Mr Suchad Chiaranussati, founder and chairman of Singapore-based real estate investment manager, SC Capital Partners Group (“SC Capital Partners”), has acquired Vietnam-based wellness-focused hospitality brand and operator, Fusion Hotel Group, for an undisclosed sum. Founded in 2008, Fusion Hotel Group currently operates 18 properties across Vietnam and Thailand, with approximately 3,000 keys, and has a secured pipeline of around 2,000 additional keys. Mr Chiaranussati also owns Japan-based hotel operator, Hotel Management Japan Co. Ltd., which operates hotels in Japan, as well as Indonesia-based hotel operator, Topotels Hotels & Resorts, which operates hotels across Indonesia, Malaysia, and Thailand. With the addition of Fusion Hotel Group, the combined platform now exceeds 16,000 keys across four markets. The acquisition supports SC Capital Partners’ strategy to build a pan-Asian hospitality management platform and accelerate expansion across key regional growth markets.
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Verdant View Wins SGD43.5 Million Tender for Hotel and Serviced Residence in Punggol Digital District, Singapore
Verdant View Pte Ltd (“Verdant View”), a joint venture between Singapore-based developer JMD Holdings Pte Ltd (“JMD Holdings”) and Singapore-based real estate investment firm, TCRE Partners Private Limited’s co-founder, Mr Nicholas Yeo, has been awarded the tender by Singapore government statutory board, JTC Corporation (“JTC”), for a hotel and serviced residence development in Singapore’s Punggol Digital District for SGD43.5 million. Situated on an 8,140-square-metre ("sqm") 60-year leasehold site, the project is part of a mixed-use Tower 98 within a 50-hectare business park. The 224-key development spans a total gross floor area of 10,930 sqm, which translates to a tender price of approximately SGD3,980 per sqm or SGD194,000 a key. The property is set to be operated by Germany-based Habyt GmbH (“Habyt”), and will comprise a mix of loft and studio units designed for both short- and extended-stay guests. Planned amenities include a wellness hub with an infinity pool, a co-working café, a launderette, and shared amenity spaces. Slated to complete in the first half of 2027, the development is the only hotel within Singapore’s broader northeast corridor and will support accommodation demand from visiting researchers, business partners, and investors within the Punggol Digital District.
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Magma Group Acquires Luma Hotel and Adjacent Assets for MYR60.9 Million in Kota Kinabalu, Malaysia
Magma Avenue Sdn Bhd, a subsidiary of Malaysia-based hospitality firm, Magma Group Bhd (“Magma Group”), has acquired Malaysia-based HH Home Hotel Sdn Bhd, the brand owner and operator of the 115-key Luma Hotel in Kota Kinabalu, Sabah, for MYR12.8 million. This translates to approximately MYR111,300 per key. The seller is from a consortium of Malaysia-based vendors, including Arboca Holdings Sdn Bhd, Avenue 2 Sdn Bhd, Great Path Development Sdn Bhd, Sutera Avenue Hotel Sdn Bhd, and Tomato Holidays Sdn Bhd. Opened in 2022, Luma Hotel is part of US-based Marriott International’s Design Hotels portfolio and features amenities including two food and beverage outlets, a fitness centre, and a meeting room. To secure full control of the asset, Magma Avenue has also acquired four adjoining buildings comprising 40 parcels of shop offices and retail units from various sellers for an additional MYR48.1 million, bringing the total investment to approximately MYR60.9 million. The four buildings are currently occupied by the hotel. The acquisition is aligned with Magma Group’s strategy to expand and strengthen its hospitality portfolio.
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Kasumigaseki Capital Sells Hotel Development Site in Wakayama, Japan
Japan-based Kasumigaseki Capital Co., Ltd. (“Kasumigaseki Capital”) has sold a hotel development site in Nishimuro District, Wakayama Prefecture, Japan, to Japan-based Misawa Home Co., Ltd. for an undisclosed sum. Originally sourced and structured by Kasumigaseki Capital, the company will remain involved in the development through project management responsibilities. Construction on the 2,467 square metres ("sqm") site is scheduled to commence in April 2026, with the completed property expected to comprise 74 keys and span a total gross floor area of 4,525 sqm across six storeys. The hotel is anticipated to open in the last quarter of 2027.
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hopeful - an HVS ANAROCK HOPE 2026 special edition
By Mandeep Lamba, Dipti Mohan and Dhwani Gupta
'hopeful' is an annual publication launched at the HVS ANAROCK HOPE 2026 conference in February 2026. Featuring a range of articles and insights, the magazine offers valuable perspectives to guide through the changing hospitality landscape. Dive in to discover more.
To view and download the full article, please click here.
| | Absolute Share Price Performance, as of 20 March 2026 | | | Closing Share Price | 20 March 2026 | 13 March 2026 | % Change | | | | Australia Stock Exchange (ASX) | | | | Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 12.66 | 12.27 | 3.2%
| | General Property Group | 4.50 | 4.61 | -2.4%
| | Mirvac Group | 1.77 | 1.84 | -3.5%
| | | | Bangkok Stock Exchange (THB) | | | | Central Plaza Hotel Public Co Ltd | 32.00 | 33.25 | -3.8%
| | Dusit Thani Public Co Ltd | 10.00 | 10.40 | -3.8%
| | Grande Asset Hotels & Property Public Co Ltd | 0.03 | 0.03 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 36.75 | 36.75 | 0.0%
| | Minor International Public Co Ltd | 21.10 | 22.40 | -5.8%
| | S Hotels and Resorts Public Company Limited | 1.53 | 1.66 | -7.8%
| | The Erawan Group Public Co Ltd | 2.40 | 2.48 | -3.2%
| | | | China Shanghai Stock Exchange (RMB) | | | | BTG Hotels Group Co Ltd | 17.20 | 16.62 | 3.5%
| | Jinling Hotel Corporation Ltd | 8.07 | 7.95 | 1.5%
| | Shanghai Jin Jiang International Hotels Co., Ltd | 27.74 | 27.25 | 1.8%
| | | | China Shenzhen Stock Exchange (RMB) | | | | Huatian Hotel Group Co.,Ltd. | 3.85 | 3.89 | -1.0%
| | Guangzhou Lingnan Group Holdings Company Limited | 13.07 | 13.31 | -1.8%
| | SSAW Hotels & Resorts Group Co., Ltd. | 28.00 | 29.00 | -3.4%
| | | | Hotel101 Global Holdings Corp | 7.92 | 8.05 | -1.6%
| | Huazhu Group Limited | 50.80 | 51.19 | -0.8%
| | | | Hong Kong Stock Exchange (HK$) | | | | Miramar Hotel & Investment Co Ltd | 11.00 | 10.99 | 0.1%
| | Regal Hotels International Holdings Ltd | 0.52 | 0.53 | -1.9%
| | Shangri-La Asia Limited | 4.72 | 4.79 | -1.5%
| | Sino Hotels Holdings Ltd | 1.70 | 1.82 | -6.6%
| | The Hong Kong & Shanghai Hotels Ltd | 6.63 | 6.51 | 1.8%
| | | | National Stock Exchange (INR) | | | | Apeejay Surrendra Park Hotels | 109.95 | 116.00 | -5.2%
| | Brigade Hotel Ventures | 60 | 60.91 | -1.5%
| | Chalet Hotels Ltd | 736.90 | 768.80 | -4.1%
| | EIH (Oberoi Hotels & Resorts) | 314.50 | 329.70 | -4.6%
| | IHCL (Taj Hotels, Resorts & Palaces) | 616.70 | 617.20 | -0.1%
| | ITC Hotels | 154.00 | 157.96 | -2.5%
| | Juniper Hotels | 207.32 | 212.34 | -2.4%
| | Lemon Tree Hotels Ltd | 107.00 | 104.95 | 2.0%
| | Mahindra Holiday & Resorts | 257.45 | 265.95 | -3.2%
| | Royal Orchid Hotels | 319.85 | 335.45 | -4.7%
| | SAMHI Hotels Limited | 151.49 | 146.48 | 3.4%
| | Schloss Bangalore Ltd | 414.40 | 423.00 | -2.0%
| | Ventive Hospitality | 656.60 | 670.95 | -2.1%
| | | | The Shilla | 43100.00 | 42450.00 | 1.5%
| | | | Singapore Stock Exchange (S$) | | | | Acrophyte Hospitality Trust (US$) | 0.25 | 0.25 | 0.0%
| | Banyan Tree Holdings Limited | 0.57 | 0.62 | -7.3%
| | CapitalLand Ascott Trust | 0.90 | 0.90 | -0.6%
| | CDL Hospitality Trusts | 0.81 | 0.80 | 0.6%
| | Coliwoo Holdings Limited | 0.51 | 0.52 | -1.9%
| | Far East Hospitality Trust | 0.57 | 0.56 | 0.9%
| | Hotel Grand Central Ltd | 0.69 | 0.68 | 0.7%
| | Hotel Properties Ltd | 4.61 | 4.68 | -1.5%
| | ProsperCap Corporation Ltd | 0.06 | 0.06 | 0.0%
| | Stamford Land Corporation Ltd | 0.47 | 0.47 | 0.0%
| | | | Taiwan Stock Exchange (NT$) | | | | Formosa International Hotels Corporation | 182.50 | 186.00 | -1.9%
| | The Ambassador Hotel, Ltd | 42.00 | 42.65 | -1.5%
| | | | Tokyo Stock Exchange (JPY) | | | | Hoshino Resorts REIT, Inc | 253000 | 254000 | -0.4%
| | Imperial Hotel, Ltd | 1502.00 | 1450.00 | 3.6%
| | Ichigo Hotel REIT Investment Corporation | 115800 | 118600 | -2.4%
| | Invincible Investment Corporation | 61000 | 61600 | -1.0%
| | Japan Hotel REIT Investment Corp. | 76600.00 | 78000.00 | -1.8%
| | Kasumigaseki Hotel REIT Investment Corp | 98500.00 | 100000.00 | -1.5%
| | Nippon Hotel & Residential Investment Corporation | 71500.00 | 71700.00 | -0.3%
| | Polaris Holdings | 177 | 177 | 0.0%
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