CMC REIT Acquires Habyt Austin Avenue for HKD206 Million in Hong Kong

China Merchants Commercial REIT (“CMC REIT”), sponsored by China-based China Merchants Shekou Industrial Zone Holdings Co., Ltd., has acquired the 29-key Habyt Austin Avenue on Austin Avenue, Tsim Sha Tsui in Hong Kong, for approximately HKD206 million. This translates to approximately HKD7.1 million per key. The 19-storey property has a total gross floor area of around 2,165 square metres (“sqm”) and is located in close proximity to Hong Kong Polytechnic University. According to CMC REIT, the asset was valued at HKD213 million as at November 2025, implying the acquisition was completed at a discount of approximately 3.3% to the latest valuation. Following the acquisition, the property will be repositioned into a purpose-built student accommodation scheme comprising approximately 85 beds, with lower floors reconfigured into shared living and communal spaces. The acquisition marks CMC REIT’s first entry into the student housing sector in Hong Kong.

One REIT Inc Acquires Candeo Hotels Kyoto Karasuma Rokkaku for JPY4.8 Billion in Japan

Japan-based One REIT Inc has agreed to acquire the 106-key Candeo Hotels Kyoto Karasuma Rokkaku in Kyoto, Japan for JPY4.8 billion through the acquisition of a real estate trust beneficial interest. This translates to approximately JPY45.3 million per key. Completed in March 2021, the property has a gross floor area of 3,064 square metres, and features a lounge, a library, sauna and outdoor baths. The hotel is located a three-minute walk from Karasuma-Oika Station on the Kyoto Municipal Subway Karasuma Line. The acquisition price compares to an appraised value of JPY5.16 billion as of 31 October 2025, reflecting a discount of approximately 7.0% to valuation. The hotel will continue to be operated by Japan-based Candeo Hospitality Management, Inc.

Gaw Capital Partners Acquires Hotel Development Site for NZD31 Million in New Zealand

An entity associated with Hong Kong-based Gaw Capital Partners has acquired a boutique hotel development site at 47 - 49 Shotover Street, Queenstown in New Zealand, for approximately NZD31 million. The 977 square metres freehold site, formerly occupied by the Base Backpackers hostel, is located along Queenstown’s primary retail thoroughfare and close proximity to key attractions, including Queenstown Mall and the Skyline Gondola. The property was vacant at the time of sale and is accompanied by approved plans for a 69-key boutique hotel, offering a clear development pathway in a tightly held leisure market.

EVT Announces Acquisition of QT Auckland and Sale of Rydges Geelong

Australia-based EVT Limited (“EVT”) acquires 150-key QT Auckland from New Zealand-based New Zealand Hotel Holdings (“NZHH”) for an undisclosed sum. Market sources indicate an acquisition price of NZD87.5 million, reflecting approximately NZD583,000 a key. EVT, which owns the QT brand, had been managing the hotel prior to the acquisition. Located along Fanshawe Street in Auckland Central, the property features a fitness centre, conference and event spaces, and two food and beverage venues. The sale forms part of NZHH’s broader strategy to divest a national portfolio of hotel assets estimated at approximately AUD554 million. At the same time, EVT has divested the 138-key Rydges Geelong for AUD24.5 million to an undisclosed seller. This translates to AUD178,000 a key. The property features a food and beverage outlet, meeting spaces, a fitness centre, and a swimming pool.

Indian Hotel Sector: 2025 in Review

By Mandeep Lamba and Dipti Mohan

2025 was a year of steady progress for India’s hotel sector, marked by strong domestic demand and the ability to absorb disruption without losing momentum. Here’s a closer look at what shaped the year.

To view and download the full article, please click here.

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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