Weekly Hotel Industry Asia Pacific News Roundup from HVS

CapitaLand Investment Acquires Hundred Stay Tokyo Shinjuku for JPY30 Billion in Japan

Singapore-based CapitaLand Investment Ltd (“CapitaLand Investment”)’s value-added lodging private fund, CapitaLand Ascott Residence Asia Fund II (“CLARA II”) and its co-investors have acquired a mixed-use asset in Shinjuku, Tokyo for JPY30 billion. While the asset name was not disclosed, it is understood to be the Hundred Stay Tokyo Shinjuku, a 22-storey building comprising hotel, residential, office, and retail components. The hotel was managed by ORIX Hotel Management Corporation, the hospitality arm of Japan-based ORIX Corporation. The hotel and residential wings will be relaunched in phases from the second half of 2026, and the property will undergo refurbishment and rebrand as Citadines Shinjuku Tower Tokyo, a 179-unit serviced residence. The acquisition marks CLARA II’s third asset and its second in Japan, following the 200-key lyf Shibuya Tokyo. CLARA II received a USD75 million commitment from Netherlands-based Bouwinvest Real Estate Investors B.V. last year, boosting its funds under management by approximately SGD470 million. 

AWC Acquires Swissotel Bangkok and Le Concorde Office Tower for THB4.4 Billion in Thailand

Thailand-based Asset World Corp Public Company Limited (“AWC”) has acquired all shares in Le Concorde Hotel Company Limited, the owner of the Swissotel Bangkok Ratchada (“SBR”) and the adjacent Le Concorde Office Tower for THB4.4 billion. The total gross floor area of the mixed-use project is 123,463 square metres (“sqm”), which translates to approximately THB35,638 per sqm for the mixed-use asset. AWC will invest a further THB4.3 billion to reposition the hotel as a 368-key JW Marriott brand by 2028, and to develop the Jubilee Prestige Tower, a mixed-use landmark with premium lifestyle office project, a Beauty Hub for wellness stays, an Urban Wellness Sanctuary in partnership with health and mindfulness experts, and premium F&B experiences such as a rooftop restaurant, an all-day dining restaurant, an authentic Japanese restaurant, an elegant Chinese restaurant, and a cigar and whiskey bar. Surrounded by embassies and multinational headquarters with direct access to Huai Khwang Station, the 407-key SBR offers five food and beverage outlets, meeting space that spans over 4,006 sqm, a fitness centre, a gym, and an executive lounge. This strategic acquisition advances AWC’s target of growing its hotel portfolio to 12,000 rooms by 2025 and cements its leadership in Thailand’s urban hospitality and mixed-use sectors. 

Nomura REMF Acquires &Hotel Hakata for JPY3.8 billion in Japan

Nomura Real Estate Asset Management Co., Ltd., the asset management company of Japan-based Nomura Real Estate Master Fund, Inc. (“Nomura REMF”), has acquired the 68-key &Hotel Hakata from Japan-based B-Lot Company Limited for JPY3.8 billion. This translates to approximately JPY55.88 million per key. Located within walking distance of Gion Station, Kushida Shrine Station, and Fofukumachi Station, the nine-storey building has a total gross floor area of 1,934 square metres and is currently leased to Japan-based Local Design Inc. Completed in 2021, the property features four room types and one food and beverage outlet. This acquisition marks Nomura REMF’s eighth hotel and its first expansion into Fukuoka City and the Kyushu Region. 

Vietnam’s New Airline Set to Operate in Fourth Quarter of 2025

A new airline, Sun PhuQuoc Airways (“SPA”), has received official approval for establishment, marking a significant milestone in Vietnam’s aviation sector. Backed by Vietnam-based Sun Group, SPA will launch with an initial investment of VND2.5 trillion, with its inaugural flight targeted for the fourth quarter of 2025. The airline has set an ambitious goal of operating a fleet of 31 aircraft by 2030. SPA will focus on commercial passenger transport as well as charter services for tourists travelling to key business and leisure destinations across Vietnam and internationally. A core objective of the airline is to boost international arrivals to Phu Quoc Island – Vietnam’s largest island, renowned for its white-sand beaches. The launch of SPA will bring the total number of active carriers in Vietnam to six, further enhancing national and international connectivity. 

La Vie Acquires Management Rights of Former Rydges Norwest in Australia

Australia-based independent hotel management company La Vie Hotels & Resorts (“La Vie”) has acquired the management rights for the former Rydges Norwest property – since rebranded under the white label Visy Dior Hotels International (“Visy Dior”). Located in the fast-growing Sydney Hills District — 30 minutes from Sydney’s central business district and 15 minutes from Parramatta — the 132-key property features extensive facilities – a restaurant, swimming pool, fitness centre, and function spaces. The property will undergo an AUD18 million renovation over the subsequent 18 months, including redesigning the guest rooms and function spaces, and the development of a new grand ballroom with a capacity of 880 guests. 

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