|
IGIS Divests Two Co-Living Assets for KRW111.5 Billion in South Korea
South Korea-based Hyundai HAIM Asset Management has partnered with US-based TPG Angelo Gordon to acquire the 177-key Mangrove Dongdaemun and 311-key Mangrove Sinseol in Seoul from the Mangrove co-living portfolio being divested by South Korea-based IGIS Asset Management (“IGIS”). The two assets were acquired for a combined consideration of KRW111.5 billion, reflecting approximately KRW228.5 million per key. Mangrove Sinseol sits on a 902.8 square metres ("sqm") site with a total gross floor area (“GFA”) of 11,588.9 sqm across six basement levels and 20 storeys above ground, while Mangrove Dongdaemun occupies a 653.1 sqm site with a total GFA of 5,967.0 sqm, spanning three basement levels and 16 storeys above ground. The new owners do not intend to renew the existing lease upon expiry and are expected to explore repositioning the assets back into hotel use under an international brand.
| | |
Centurion Enters Key Worker Accommodation Market in Australia with an AUD45 Million Acquisition
Singapore-based Centurion Corporation Limited (“Centurion”) has entered the key worker accommodation segment with the acquisition of an asset in Karratha, Western Australia, for AUD45 million. The asset includes 93-key Velocity Village, which serves as a worker accommodation facility, and 135-key Velocity Motel & Bistro, which provides single-occupancy rooms for managerial staff and corporate clients. On-site amenities for the latter include a restaurant, bar, conference rooms, swimming pool, and fitness centre. This transaction marks Centurion’s expansion into a new adjacent segment beyond its existing purpose-built worker accommodation and student accommodation platforms.
| | |
GPIF Invests JPY10 Billion in Real Estate Fund Managed by Phoenix
Japan-based Government Pension Investment Fund (“GPIF”) has committed JPY10 billion to a Japan-focused real estate fund managed by Hong Kong-based Phoenix Property Investors (“Phoenix”) for a duration of eight years. The strategy targets domestic assets across sectors, including office, rental housing, logistics, and hospitality, primarily in Tokyo and Osaka. Phoenix, which has been investing in Japan for over two decades, maintains an on-the-ground presence in Tokyo and manages a diversified regional platform spanning multiple Asian cities. Phoneix currently owns a hotel portfolio across Tokyo, Kyoto, Sapporo, and Okinawa in Japan. The allocation forms part of GPIF’s ongoing push into externally managed real estate strategies, reflecting continued institutional confidence in Japan’s stable, income-generating property market.
| | |
CAG Introduces New Private Terminal at Terminal 2 in Singapore
Singapore-based Changi Airport Group (“CAG”) has announced plans to introduce a new private terminal and expand amenities cluster at Terminal 2, targeted for completion by mid-2027. The development will involve the redevelopment of the former JetQuay CIP terminal into a purpose-built facility comprising private suites, dedicated lounges, dining facilities, and event spaces. The project will also expand the existing Hub & Spoke precinct into a larger integrated amenities cluster. Enhancements will include additional food and beverage offerings, wellness and lifestyle facilities, as well as a covered amphitheatre and outdoor event plaza to support programmed activities and public engagement. The new terminal will be jointly operated by CAG and Hong Kong-based Plaza Premium Group.
| | |
Pegasus Capital Sold Two Kyoto Hotels in Japan
Japan-based PEG Capital Advisors (“Pegasus Capital”) has sold two Kyoto Hotels to an unnamed international hospitality conglomerate. While the sold hotel name was not disclosed, Pegasus acquired six hotels in Kyoto in 2021 and 2023, namely the 24-key Wayfarer Gojo, 20-key Wayfarer Shin, 38-key Wayfarer Shijo, 216-key Kabin Machi, 19-key ORI Rokkaku, and 28-key ORI Kyoto. The combined gross floor area of the six hotels is 13,291.56 sqm. Pegasus Capital will continue to deploy and redeploy capital for the Pegasus Opportunistic III Fund for other investment opportunities.
| | Absolute Share Price Performance, as of 24 April 2026 | | | Closing Share Price | 24 April 2026 | 17 April 2026 | % Change | | | | Australia Stock Exchange (ASX) | | | | Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 12.70 | 13.71 | -7.4%
| | General Property Group | 4.73 | 4.68 | 1.1%
| | Mirvac Group | 1.72 | 1.80 | -4.4%
| | | | Bangkok Stock Exchange (THB) | | | | Central Plaza Hotel Public Co Ltd | 31.50 | 35.00 | -10.0%
| | Dusit Thani Public Co Ltd | 10.00 | 10.10 | -1.0%
| | 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 | 21.60 | 22.80 | -5.3%
| | S Hotels and Resorts Public Company Limited | 1.57 | 1.72 | -8.7%
| | The Erawan Group Public Co Ltd | 2.38 | 2.72 | -12.5%
| | | | China Shanghai Stock Exchange (RMB) | | | | BTG Hotels Group Co Ltd | 15.08 | 15.36 | -1.8%
| | Jinling Hotel Corporation Ltd | 8.31 | 8.33 | -0.2%
| | Shanghai Jin Jiang International Hotels Co., Ltd | 25.91 | 27.75 | -6.6%
| | | | China Shenzhen Stock Exchange (RMB) | | | | Huatian Hotel Group Co., Ltd. | 3.75 | 3.94 | -4.8%
| | Guangzhou Lingnan Group Holdings Company Limited | 10.15 | 10.75 | -5.6%
| | SSAW Hotels & Resorts Group Co., Ltd. | 25.35 | 27.95 | -9.3%
| | | | Hotel101 Global Holdings Corp | 6.74 | 6.05 | 11.4%
| | Huazhu Group Limited | 52.18 | 55.04 | -5.2%
| | | | Hong Kong Stock Exchange (HK$) | | | | Miramar Hotel & Investment Co Ltd | 10.65 | 10.70 | -0.5%
| | Regal Hotels International Holdings Ltd | 0.55 | 0.52 | 5.8%
| | Shangri-La Asia Limited | 4.48 | 4.40 | 1.8%
| | Sino Hotels Holdings Ltd | 1.63 | 1.64 | -0.6%
| | The Hong Kong & Shanghai Hotels Ltd | 6.07 | 6.03 | 0.7%
| | | | National Stock Exchange (INR) | | | | Apeejay Surrendra Park Hotels | 121.96 | 122.00 | 0.0%
| | Brigade Hotel Ventures | 68.01 | 65.45 | 3.9%
| | Chalet Hotels Ltd | 790.85 | 770.10 | 2.7%
| | EIH (Oberoi Hotels & Resorts) | 330.55 | 319.05 | 3.6%
| | IHCL (Taj Hotels, Resorts & Palaces) | 636.85 | 654.00 | -2.6%
| | ITC Hotels | 161.14 | 162.70 | -1.0%
| | Juniper Hotels | 216 | 219.8 | -1.7%
| | Lemon Tree Hotels Ltd | 121.56 | 114.18 | 6.5%
| | Mahindra Holiday & Resorts | 266.50 | 274.79 | -3.0%
| | Royal Orchid Hotels | 343.85 | 360.10 | -4.5%
| | SAMHI Hotels Limited | 163.33 | 164.82 | -0.9%
| | Schloss Bangalore Ltd | 439.00 | 424.00 | 3.5%
| | Ventive Hospitality | 622.00 | 618.00 | 0.6%
| | | | The Shilla | 65000.00 | 0.00 | - | | | | Singapore Stock Exchange (S$) | | | | Acrophyte Hospitality Trust (US$) | 0.25 | 0.25 | 0.0%
| | Banyan Tree Holdings Limited | 0.62 | 0.62 | 0.8%
| | CapitalLand Ascott Trust | 0.91 | 0.92 | -1.1%
| | CDL Hospitality Trusts | 0.82 | 0.83 | -1.2%
| | Coliwoo Holdings Limited | 0.48 | 0.50 | -3.0%
| | Far East Hospitality Trust | 0.58 | 0.59 | -1.7%
| | Hotel Grand Central Ltd | 0.79 | 0.75 | 5.3%
| | Hotel Properties Ltd | 4.68 | 4.62 | 1.3%
| | ProsperCap Corporation Ltd | 0.08 | 0.08 | 0.0%
| | Stamford Land Corporation Ltd | 0.48 | 0.48 | 0.0%
| | | | Taiwan Stock Exchange (NT$) | | | | Formosa International Hotels Corporation | 173.50 | 181.00 | -4.1%
| | The Ambassador Hotel, Ltd | 41.80 | 43.30 | -3.5%
| | | | Tokyo Stock Exchange (JPY) | | | | Hoshino Resorts REIT, Inc | 256500 | 262900 | -2.4%
| | Imperial Hotel, Ltd | 1215.00 | 1436.00 | -15.4%
| | Ichigo Hotel REIT Investment Corporation | 115100 | 117200 | -1.8%
| | Invincible Investment Corporation | 62700 | 63600 | -1.4%
| | Japan Hotel REIT Investment Corp. | 79700.00 | 80400.00 | -0.9%
| | Kasumigaseki Hotel REIT Investment Corp | 99700.00 | 99500.00 | 0.2%
| | Nippon Hotel & Residential Investment Corporation | 70800.00 | 72300.00 | -2.1%
| | Polaris Holdings | 177 | 183 | -3.3%
| | |
Superior Results through Unrivaled Hospitality Intelligence. Everywhere.
| | |
Stay current. Click here to receive free HVS newsletters
Looking for insights into the hospitality industry?
Discover unique hospitality intelligence at hvs.com/publications
Interested in a particular market?
Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketreviews
Like to be in the know on hotel trends and predictions?
See our Hotel Valuation Index for dozens of cities at hvi.hvs.com
HVS.com
| | |
Copyrights © 2026; All Rights Reserved by HVS
Privacy Policy
Sent by: HVS Asia Pacific
If you would like to change your preferred email format or your subscribed email address, or if you have any comments or suggestions, please contact us at hvs@hvs.com.
| | | | |
