HVS Asia Pacific Hospitality Newsletter - Week Ending 6 February 2026

Coliwoo Acquires former Park Avenue Changi for SGD101 Million in Singapore

Singapore-based Coliwoo Holdings Limited (“Coliwoo”) is acquiring the former Park Avenue Changi for SGD101 million. This translates to approximately SGD402,000 per key for the 251-key property. Coliwoo will acquire the leasehold interest in the strata lot from Singapore-based ESR-REIT Management (S) Limited’s (“ESR-REIT”), and convert it into a co-living property. The property forms part of ESR BizPark@Changi and includes ground-floor retail space. The property is strategically located within a five-minute walk of Expo MRT station, approximately 500 metres from the Singapore EXPO Convention and Exhibition Centre, with Changi City Point shopping mall within a five-minute walk and Changi Airport accessible via a 15-minute train ride.

 Seohan Group Acquires Daegu Marriott Hotel, South Korea

South Korea-based SEOHAN Const. & Eng. co., Ltd. (“Seohan Group”) is acquiring Daegu Marriott Hotel from South Korea-based YIDO Co., Ltd. Market sources indicates that the selling price will be approximately KRW50 to 60 billion. Opened in 2021, the 190-key property is the first five-star hotel opened in Daegu city, and features three food and beverage outlets, a spa, a fitness centre, chargeable swimming pools and sauna facilities, and five meeting rooms that span over 590 square metres ("sqm"). The property is located in Dong-gu, minutes away from the Dongdaegu Train station and Dongdaegu metro station, providing easy access to Daegu city, and other major cities in South Korea.

 First Brothers Sells Kamakura Seizan for JPY2.687 Billion, Japan

Japan-based First Brothers Co., Ltd. (“First Brothers”) sold Kamakura Seizan to an undisclosed buyer for JPY2.687 billion, translating into a per-key value of approximately JPY75 million for the 36-key property. Located a three-minute walk from Kamakura Station, the property has a total floor area of 1,521.78 sqm on a land area of 948.26 sqm. The property features one food and beverage outlet and is surrounded by major tourist attractions, including Kamakura Daibutsu, Enoshima Island, and Myohonji. First Brothers is expected to realise a gain of approximately JPY960 million from the sale.