Amora Acquired Hilton Adelaide in Australia for AUD110 Million

Amora Hotels & Resorts (“Amora”), an Australia-based company owned by a Thai family, has acquired the Hilton Adelaide from Australia-based 233 Victoria Square Hotel Pty Ltd for AUD110 million, translating to approximately AUD292,000 per key. This represents Amora’s seventh property in its strategic plan to expand to 12 hotels within five years. Amora plans to invest AUD40 million in renovations, equating to approximately AUD106,000 per key, to enhance the property's offerings. The centrally located 18-storey Hilton Adelaide, which opened in 1982, features 377 guest rooms, three food and beverage outlets, event space that spans over 2,329 square metres, an executive lounge, a tennis court, a fitness centre, and a swimming pool. The current management agreement with Hilton Hotels will end in mid-2026.

 Exsim Raises MYR250 Million for A New Hotel Acquisition in Empire City, Malaysia

Malaysia-based Exsim Hospitality Berhad (“Exsim”) has raised approximately MYR250 million to partially fund the acquisition of a new five-star hotel in Empire City, Petaling Jaya, Selangor, Malaysia. This represents 71% of the company’s market capitalisation. While the details of the hotel were not disclosed, the group plans to allocate approximately MYR86 million for the 294-key hotel acquisition in Empire City. The hotel acquisition is slated to be completed by Q4 2026. Additionally, Exsim will invest around MYR114 million in the renovation of its 200-key Corus Paradise Resort Port Dickson. The remaining MYR49 million will be used to finance the company’s working capital requirements. These strategic investments underscore the company's commitment to strengthening its footprint in the Malaysian hospitality sector.

Paradise Develops a KRW575 Billion New Hotel in Seoul, South Korea

South Korea-based Paradise Co., Limited (“Paradise”), a foreigner-only casino operator has secured KRW550 billion in financing to support the development of a new hotel in Seoul, South Korea. The property, expected to be a luxury hotel named Paradise Hotel Jangchung, will feature approximately 200 suites and span 18 levels, covering a total of 13,950 square metres. Construction is set to commence in the first quarter of 2025, with the hotel scheduled to open in 2028. Paradise currently operates four casinos in Seoul, Incheon, Busan and Jeju, as well as three hotels and resorts.

High-end Ecological Tourism Resort Planned at Binh Duong, Vietnam

A high-end ecological tourism resort is set to be developed on Tha La Peninsula on Dau Tieng Lake, Dau Tieng District, in Vietnam’s southern province of Binh Duong. Spanning approximately 458 hectares, the project includes areas for tourism development and supporting infrastructure. The resort is designed to accommodate 37,000 to 61,000 visitors per day, with overnight facilities for up to 14,000 guests. The project will offer around 4,900 rooms, including hotels and low-rise accommodations. Part of Binh Duong’s development master plan 2021-2030, and the planning of Dau Tieng District until 2040, and the project aims to establish a sustainable, green tourism destination.

Selina Rebrands to Socialtel

Selina Hospitality PLC (“Selina”), recently acquired by Singapore-based Collective Hospitality, is set to rebrand as Socialtel. Originally operating under a hostel model, Selina catered to digital nomads by combining accommodation with coworking spaces. The shift to Socialtel marks a move away from this concept, reducing shared dormitories and placing greater emphasis on food and beverage offerings. Collective Hospitality plans to close 60 of the remaining Selina locations, retaining only 40. These will be reimagined under three sub-brands: a high-energy party concept, a wellness-focused retreat for remote locations, and six surf camps offering all-inclusive packages. A USD50 million reinvestment has been committed to revitalising the brand.

About HVS

HVS, the world's leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, was established in 1980. The company performs 4,500+ assignments each year for hotel and real estate owners, operators, investors, banks and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of some 60 offices and more than 300 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. hvs.com.

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