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SC Capital Partners Secures SGD51.7 Billion Commitment from CPPIB for Japan Hospitality Strategy
Singapore-based real estate investment manager SC Capital Partners Group (“SC Capital”) has secured additional capital from Canada Pension Plan Investment Board (“CPPIB”) to expand its Japan hospitality investment strategy. The commitment is backed by a consortium that includes CPPIB, and an existing global institutional investor that has supported the strategy since 2022. The total initial commitment amounts to up to JPY51.7 billion, with CPPIB contributing up to JPY25.4 billion, and an upside capacity of JPY112.7 billion over time. The partnership supports SC Capital’s value-add hospitality strategy in Japan, which focuses on acquiring, repositioning, and operating hotels and related assets across the country. The investment also enables CPPIB to gain further exposure to high-quality hospitality opportunities in Japan’s growing tourism and lodging market.
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The Assembly Place Lists on SGX Catalist
Singapore-based co-living operator The Assembly Place (“TAP”) has listed on the Singapore Exchange (“SGX”) Catalist board on 23 January 2026, with its shares closing at approximately SGD0.29 on the first day of trading, compared to an initial public offering price of SGD0.23 per share. The listing implies a market capitalisation of around SGD88 million. Founded in 2019, TAP operates a portfolio of co-living properties across Singapore, managing and operating more than 3,400 keys across 100 property assets in Singapore. The listing enables TAP to access the capital markets to support portfolio growth and expansion, amid continued demand for rental-led and alternative living accommodation in Singapore.
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Million Group Leases Hotel to LINKo Living for Student Accommodation in Hong Kong
Hong Kong-based Million Group has leased its entire 93-room M1 Yau Ma Tei Hotel, located at 28–32 Portland Street in Mong Kok, to Hong Kong-based student hostel operator LINKo Living for over HKD900,000 per month. The property is a 27-storey building comprising one food and beverage outlet, and guest rooms from the fifth floor upwards, with a total gross floor area of approximately 2,297 square metres (“sqm”). The lease implies an average rental of around HKD10,000 per room per month, with the first-floor restaurant contributing over HKD100,000 in monthly rent, lifting total building rental income to in excess of HKD1 million per month and implying a yield of over 5% based on the group’s prior HKD230 million asking price. The asset benefits from a prime location two minutes’ walk from Yau Ma Tei MTR Station and close to Nathan Road, enhancing its appeal for student housing use. Established in 2018, LINKo Living currently operates in five locations with 170 rooms.
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J. Front City Development Acquires Oriental Hotel Kobe Mixed-Use Asset for JPY26.26 Billion, Japan
J. Front City Development Co., Ltd. (“J. Front City Development”), a wholly owned subsidiary of Japan-based developer J. Front Retailing Co., Ltd. (“J. Front Retailing”), has acquired a mixed-use property in Hyogo, Japan, for JPY26.26 billion from Activia Properties Inc. (“API”). The property, Kobe Kyu Kyoryuchi 25Bankan, includes the 116-key Oriental Hotel Kobe, seven retail units, and 141 parking lots. The transaction price reportedly reflects a JPY7.09 billion premium over the asset’s book value. Completed in 2010, the property occupies a 3,014 sqm site and comprises 27,011 sqm of gross floor area across 17 above-ground floors and three basement levels. The Oriental Hotel Kobe features four food and beverage outlets, alongside a club lounge, a fitness centre, and multiple meeting and event spaces. Annual rental income for the asset is reportedly JPY1.156 billion. Located in Kobe’s Kyu Kyoryuchi district, the city’s historic former foreign settlement area, the property is surrounded by heritage landmarks such as the Old Kobe Residency Hall and Kobe City Museum. It is situated within a five-minute walk of the Kyukyoryuchi-Daimarumae metro station on the Kaigan Line, and approximately 10 minutes from Motomachi Station, served by the JR Kobe Line.
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Koramco Acquires U5 Hotel Euljiro in Seoul, South Korea
South Korea-based Koramco Asset Management (“Koramco”) has entered into a sales and purchase agreement to acquire the 297-key U5 Hotel Euljiro, in Seoul, South Korea. Market sources indicate the transaction value is in the range of KRW140 billion to KRW170 billion, translating to approximately KRW471 million to KRW572 million per key. The total investment is understood to include around KRW10 billion of planned capital expenditure, earmarked for asset enhancement initiatives. Post-acquisition, Koramco plans to reposition the property through façade and facilities upgrades, alongside an increase in room count to over 300 keys. Market sources indicate plans to rebrand the property as Mercure Ambassador, the joint-venture brand between France-based Accor SA and South Korea-based Ambassador Hotel Group.
| | Absolute Share Price Performance, as of 30 January 2026 | | | Closing Share Price | 30 January 2026 | 23 January 2026 | % Change | | | | Australia Stock Exchange (ASX) | | | | Elanor Investors Group | 0.85 | 0.85 | 0.0%
| | Event Hospitality & Entertainment Ltd | 12.66 | 12.72 | -0.5%
| | General Property Group | 5.29 | 5.40 | -2.0%
| | Mirvac Group | 1.98 | 2.01 | -1.5%
| | | | Bangkok Stock Exchange (THB) | | | | Central Plaza Hotel Public Co Ltd | 34.75 | 34.75 | 0.0%
| | Dusit Thani Public Co Ltd | 11.40 | 11.30 | 0.9%
| | 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 | 22.90 | 23.30 | -1.7%
| | S Hotels and Resorts Public Company Limited | 1.68 | 1.65 | 1.8%
| | The Erawan Group Public Co Ltd | 2.52 | 2.28 | 10.5%
| | | | China Shanghai Stock Exchange (RMB) | | | | BTG Hotels Group Co Ltd | 17.05 | 17.84 | -4.4%
| | Jinling Hotel Corporation Ltd | 8.22 | 8.30 | -1.0%
| | Shanghai Jin Jiang International Hotels Co., Ltd | 26.9 | 27.43 | -1.9%
| | | | China Shenzhen Stock Exchange (RMB) | | | | Huatian Hotel Group Co.,Ltd. | 3.59 | 3.59 | 0.0%
| | Guangzhou Lingnan Group Holdings Company Limited | 12.77 | 12.77 | 0.0%
| | SSAW Hotels & Resorts Group Co., Ltd. | 30.80 | 30.80 | 0.0%
| | | | Hotel101 Global Holdings Corp | 8.31 | 8.52 | -2.5%
| | Huazhu Group Limited | 48.64 | 50.11 | -2.9%
| | | | Hong Kong Stock Exchange (HK$) | | | | Miramar Hotel & Investment Co Ltd | 11.02 | 10.41 | 5.9%
| | Regal Hotels International Holdings Ltd | 0.54 | 0.53 | 1.9%
| | Shangri-La Asia Limited | 4.85 | 4.80 | 1.0%
| | Sino Hotels Holdings Ltd | 1.50 | 1.50 | 0.0%
| | The Hong Kong & Shanghai Hotels Ltd | 6.19 | 6.10 | 1.5%
| | | | National Stock Exchange (INR) | | | | Apeejay Surrendra Park Hotels | 119.50 | 124.90 | -4.3%
| | Brigade Hotel Ventures | 59 | 61 | -3.3%
| | Chalet Hotels Ltd | 837.00 | 842.10 | -0.6%
| | EIH (Oberoi Hotels & Resorts) | 308.75 | 330.45 | -6.6%
| | IHCL (Taj Hotels, Resorts & Palaces) | 667.90 | 654.00 | 2.1%
| | ITC Hotels | 178.30 | 184.80 | -3.5%
| | Juniper Hotels | 207.25 | 231.9 | -10.6%
| | Lemon Tree Hotels Ltd | 124.55 | 129.50 | -3.8%
| | Mahindra Holiday & Resorts | 288.00 | 291.55 | -1.2%
| | Royal Orchid Hotels | 353.35 | 362.15 | -2.4%
| | SAMHI Hotels Limited | 168.10 | 172.82 | -2.7%
| | Schloss Bangalore Ltd | 399.00 | 413.85 | -3.6%
| | Ventive Hospitality | 730.30 | 739.95 | -1.3%
| | | | The Shilla | 46200.00 | 46050.00 | 0.3%
| | | | Singapore Stock Exchange (S$) | | | | Acrophyte Hospitality Trust (US$) | 0.26 | 0.26 | -1.9%
| | Banyan Tree Holdings Limited | 0.67 | 0.66 | 1.5%
| | CapitalLand Ascott Trust | 0.97 | 0.98 | -0.5%
| | CDL Hospitality Trusts | 0.85 | 0.84 | 1.2%
| | Coliwoo Holdings Limited | 0.60 | 0.62 | -2.4%
| | Far East Hospitality Trust | 0.61 | 0.62 | -1.6%
| | Hotel Grand Central Ltd | 0.76 | 0.72 | 5.6%
| | Hotel Properties Ltd | 4.89 | 4.77 | 2.5%
| | ProsperCap Corporation Ltd | 0.06 | 0.06 | 0.0%
| | Stamford Land Corporation Ltd | 0.50 | 0.50 | -1.0%
| | | | Taiwan Stock Exchange (NT$) | | | | Formosa International Hotels Corporation | 189.00 | 188.50 | 0.3%
| | The Ambassador Hotel, Ltd | 44.70 | 44.40 | 0.7%
| | | | Tokyo Stock Exchange (JPY) | | | | Hoshino Resorts REIT, Inc | 258600 | 258800 | -0.1%
| | Imperial Hotel, Ltd | 1336.00 | 1394.00 | -4.2%
| | Ichigo Hotel REIT Investment Corporation | 123800 | 127900 | -3.2%
| | Invincible Investment Corporation | 66300 | 65900 | 0.6%
| | Japan Hotel REIT Investment Corp. | 84500.00 | 85500.00 | -1.2%
| | Kasumigaseki Hotel REIT Investment Corp | 105000.00 | 106300.00 | -1.2%
| | Nippon Hotel & Residential Investment Corporation | 75500.00 | 75900.00 | -0.5%
| | Polaris Holdings | 183 | 188 | -2.7%
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