Market Snapshot: Asia Pacific 2026

The Market Snapshot: Asia Pacific 2026 highlights an overview of transaction activity in the region and presents 24 markets’ current hospitality landscape; each covering demand and supply dynamics, hotel performances, and key transactions.

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CREAL to Divest Garner Hotel Osaka Honmachi Midosuji as Part of Portfolio Recapitalisation, Japan

Japan-based CREAL Corporation (“CREAL”) has agreed to divest the 168-key Garner Hotel Osaka Honmachi Midosuji in Osaka, Japan, to Japan-based Centaurus GK, as part of a recapitalisation strategy for a three-hotel 518-key portfolio acquired from Hong Kong-based Axe Management Partners (“Axe Management”) for approximately JPY21.0 billion in July 2026. The sale price was not disclosed, but it is understood to be at least JPY3.8 billion, with completion scheduled for 15 December 2026. Built in 2018, the 13-storey hotel is located in Osaka’s Chuo Ward, within walking distance of Honmachi and Yodoyabashi stations. Axe Management previously acquired the three-hotel Hotel WBF portfolio from Singapore-based CapitaLand Ascott Trust (“CLAS”) for JPY10.7 billion in March 2024, before refurbishing and repositioning the properties under UK-based IHG Hotels & Resorts’ Garner brand in January 2025. The other two hotels include the 182-key Garner Hotel Osaka Honmachi Station and the 168-key Garner Hotel Osaka Honmachi Kita Semba. CREAL has also divested Garner Hotel Osaka Honmachi Station to a Singapore-based investor, with completion expected by end-2026. CREAL will retain asset management responsibilities across the portfolio, while its subsidiary, CREAL Hotels, will continue to operate all three properties.

Fifty Group Enters Canberra Hotel Market with Two Acquisitions in Australia

Australia-based Fifty Group has acquired two hotels in Canberra, Australia, comprising a combined 137 keys, marking its entry into the Australian Capital Territory (“ACT”) hotel market. The acquisitions include the 64-key Statesman Hotel in Curtin and the 73-key Garden City Hotel, BW Signature Collection, in Narrabundah. The latter hotel was acquired for AUD13.7 million, or approximately AUD187,700 per key, while the consideration for the Statesman Hotel was not disclosed. Located approximately five kilometres (“km”) southwest of Canberra’s central business district (“CBD”), the Statesman Hotel features five food and beverage outlets, a retail shop, and function spaces. Meanwhile, Garden City Hotel occupies a 6,644 square metre (“sqm”) freehold site approximately six km southeast of the CBD, with facilities including two food and beverage outlets, swimming pool, fitness centre, business facilities, and meeting spaces. Fifty Group plans to upgrade both hotels, with discussions reportedly having taken place to rebrand the two properties under one of France-based Accor S.A.’s hotel brands. The acquisitions further expand Fifty Group’s hospitality portfolio, with a focus on established assets with potential for refurbishment and operational improvements.

Hikari Hospitality Fund Acquires R Hotel Namba Daikokucho in Osaka, Japan

Hikari Hospitality Fund, a Singapore-based variable capital company managed by Monetary Authority of Singapore (“MAS”)-licensed AP Property Fund Management Pte Ltd (“AP Property”), has acquired the 48-key R Hotel Namba Daikokucho in Osaka, Japan, from Hong Kong-based Raion Capital for an undisclosed price. Completed in 2020, the nine-storey property comprises approximately 1,040 sqm of gross floor area. Raion Capital acquired the hotel in 2024 and subsequently undertook refurbishment works before reopening it as R Hotel Namba Daikokucho. The hotel is located in Osaka’s Naniwa Ward, approximately a one-minute walk from Daikokucho Station, which is served by the Osaka Metro Midosuji and Yotsubashi lines, providing convenient access to the wider city. The acquisition forms part of Hikari Hospitality Fund’s broader strategy to pursue hospitality investment opportunities across Japan and generate sustainable, long-term value.

VIP Asset Management and TS Investment Close KRW65 Billion Pre-IPO Fund for The Hyoosik in South Korea

South Korea-based VIP Asset Management Co., Ltd. (“VIP Asset Management”) and South Korea-based TS Investment Corporation (“TS Investment”) have completed the formation of a KRW65 billion Pre-IPO project fund to invest in South Korea-based hospitality operator The Hyoosik Co., Ltd. (“The Hyoosik”). VIP Asset Management participated as a co-general partner and committed KRW20 billion of its proprietary capital, representing its largest proprietary investment in an unlisted company to date. Established in 2019, The Hyoosik provides integrated planning, branding, construction and operating services for small- and mid-sized accommodation properties. The company and has developed or operated more than 300 properties nationwide, including those under its proprietary Aank brand. The company plans to use the investment proceeds to expand partnerships with global international hotel groups, including US-based Marriott International and Hilton Worldwide, and strengthen its presence in the three- to four-star tourist hotel segment. The Hyoosik is also targeting an initial public offering in 2028.

Absolute Share Price Performance, as of 16 October 2026

For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel. 

Hok Yean Chee, Regional President – HVS Asia Pacific hychee@hvs.com

Mandeep S. Lamba, President, South Asia – HVS ANAROCK mlamba@hvs.com

Chariss Kok, Vice President – HVS Singapore ckok@hvs.com

Joonkyu Shin, Division Head - Strategy – HVS Styleloft jkshin@hvsstyleloft.com

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