HPL Acquired InterContinental Hotel Auckland in New Zealand for NZD180 Million

Singapore-based Hotel Properties Limited (“HPL”), through a wholly owned subsidiary, successfully completed the off-market acquisition of the InterContinental Hotel Auckland from New Zealand-based Precinct Properties Investments Limited for NZD180 million, translating to approximately NZD1.3 million per key. This transaction marks the group’s first acquisition in New Zealand and the country’s largest single-asset transaction. Currently boasting 139 keys, HPL suggested the potential conversion of office space to guest room which will bring the total room count to 196 keys. Opened in 2024, the freehold property is situated in the heart of the city and overlooks the harbour. The hotel features one food and beverage outlet, a fitness centre, and a club lounge. HPL currently has interests in 41 hotels worldwide.

Shinhan REITs Acquired Shilla Stay Mapo Seoul in South Korea for KRW140 Billion

Shinhan REIT Management Co., Ltd. (“Shinhan REITs”), the real estate asset management company of South Korea-based Shinhan Financial Group, acquired the Shilla Stay Mapo Seoul from South Korea-based Hana Alternative Asset Management for KRW140 Billion. This translates to an acquisition price of approximately KRW366 million per key. With a gross floor area of 18,470 square metres, the 383-key hotel offers modern accommodations and a range of amenities including one food and beverage outlet, meeting facilities, and a fitness centre. Located in the Mapo district of Seoul, the hotel is located minutes away from Gongdeok Station, and provides easy access to key business and leisure areas.

FECI Sells a Mixed-use Project in London to AMTD for GBP47.2 Million

Hong-Kong based Far East Consortium International Limited (“FECI”) is selling a London mixed-use project to AMTD Idea Group (“AMTD”), an investment division of Hong Kong-based AMTD Group Inc. for GBP47.2 million. Situated in the heart of North London's Crouch End, the Hornsey Town Hall development project is nearing completion and includes a hotel component, valued at GBP22.66 million of the total transaction. FECI is expected to record a gain of GBP6.32 million from the hotel component. Following the acquisition, AMTD will open a 68-key hotel, understood to be Dao by Dorsett North London , the second Dao by Dorsett AMTD hotel globally. The property will form part of the Town Hall complex, which will also feature an Arts Centre with co-working spaces, a cinema, a debating chamber, and food and beverage outlets. .

Hyatt Expands Upper-Midscale Portfolio with Hyatt Select Brand

USA-based Hyatt Hotels Corporation (“Hyatt”) has introduced Hyatt Select, a new upper-midscale transient brand. Designed for cost-effective new builds and conversions, it complements Hyatt Studios, its extended-stay counterpart. The conversion-friendly model allows owners to leverage Hyatt’s global distribution, revenue management tools, and loyalty programme. With 70–200 keys, streamlined staffing, complimentary breakfast, and a 24/7 grab-and-go market, Hyatt Select strengthens Hyatt’s Essentials portfolio, expanding its presence in underrepresented markets and broadening its network of owners and guests.

HVS ANAROCK Monitor, February 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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Absolute Share Price Performance, as of 7 March 2025

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