YTL Hotels Acquires Hotel Indigo Auckland for NZD160 Million, New Zealand

YTL Hotels & Properties Sdn Bhd (“YTL Hotels”), the hospitality arm of Malaysia-based YTL Corporation Berhad (“YTL Group”), has acquired the 225-key Hotel Indigo Auckland from New Zealand-based Ninety Four Feet for NZD160 million. This translates to approximately NZD711,000 per key. This marks YTL Hotels’ first hotel investment in New Zealand and represents the country’s second-largest hotel transaction in 2025. YTL Hotels has signed a 25-year management agreement with UK-based InterContinental Hotels Group PLC (“IHG”) to operate the hotel. The hotel occupies 27 floors within a newly built 41-storey mixed-use tower, offering amenities such as an on-site restaurant, fitness centre, and car parking. Strategically located along Albert Street in Auckland’s Midtown precinct, the property is an eight-minute walk from both Waitematā Station and the upcoming Aotea Station, providing strong accessibility and positioning within the city’s central business district.

ORIX JREIT Expands Hospitality Portfolio with JPY22.5 Billion Osaka Hotel Acquisition, Japan

Japan-based ORIX JREIT Inc. (“OJR”), through its asset manager ORIX Asset Management Corporation, has announced the acquisition of the 304-key Holiday Inn Express Osaka City Centre – Midosuji, for JPY22.5 billion from an undisclosed seller, reflecting an appraisal net operating income yield of 4.6%. The transaction price reflects a per key value of approximately JPY74 million. Built in 2019, the property sits on a land parcel of approximately 843.59 square metres (“sqm”) and comprises a total floor area of around 10,200.29sqm across 21 storeys. Located in Osaka’s Chuo Ward, the property is within a three-minute walk from Hommachi Station and a six-minute walk from Shinsaibashi Station. The hotel features an on-site restaurant, business centre, self-service laundry facilities, and a fitness centre. Following this acquisition, hotel assets now account for approximately 19% of OJR’s portfolio by acquisition price, aligning with its strategic focus on expanding hospitality exposure within Japan’s key urban centres.

Mulpha Divests 33% Stake in London Marriott Hotel Grosvenor Square for GBP33.8 Million, United Kingdom

Malaysia-based Mulpha International Bhd (“Mulpha”) has divested its 33% equity interest in New Pegasus Holdings Ltd (“New Pegasus”), the owner of the London Marriott Hotel Grosvenor Square, for approximately GBP33.8 million (MYR190.3 million). The transaction was part of a broader group sale, in which all shareholders of New Pegasus sold their stakes to MGS Acquisition Ltd (“MGS”), a company owned by UK-based Spartan Advisors Ltd, for a total consideration of approximately GBP102.3 million. This translates to approximately GBP432,000 a key for the 237-key property. Mulpha originally acquired its 33% stake in February 2014 for GBP21.3 million and has since invested a total of MYR127.82 million up to September 2021. The company expects to record a net gain of around GBP18.7 million (MYR105.3 million) from this disposal. The property is a high-end, leasehold hospitality asset located in central London, with multiple food and beverage outlets, 11 event spaces, a leisure club, and a lounge.

InterContinental Singapore to Rebrand as The Luxury Collection under Marriott, Singapore

Frasers Hospitality Pte Ltd (“Frasers Hospitality”), the hospitality arm of Singapore-based Frasers Property Limited (“Frasers”), has announced the rebranding of InterContinental Singapore in Bugis under US-based Marriott International Inc. (“Marriott”) as part of its Luxury Collection portfolio, effective 1 January 2026. This follows the expiry of the current management agreement with UK-based InterContinental Hotels Group PLC (“IHG”) on 31 December 2025. The rebranded hotel will have 406 keys, with entry-level room sizes starting at 38 square metres (“sqm”). Facilities will include an outdoor swimming pool, fitness centre, six food and beverage outlets, and approximately 1,000sqm of event space, including a 540sqm ballroom. Located within the Bugis Junction mixed-use development, the property sits in the heart of the Bras Basah-Bugis arts and cultural district. It enjoys direct connectivity to Bugis MRT Station, served by both the Downtown Line and East-West Line, offering access to Singapore’s Central Business District and key city attractions. 

HVS ANAROCK MONITOR, October 2025

By Dipti Mohan, Dhwani Gupta and Shivansh Agarwal

This is a monthly industry update that highlights the key trends in the Indian hospitality industry.



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