HVS Asia Pacific Hospitality Newsletter - Week Ending 4 September 2026

Hoi Hup Enters Australian Market with AUD201.8 Million Four Points by Sheraton Sydney Central Park Acquisition

Singapore-based Hoi Hup Realty Pte Ltd (“Hoi Hup”) has acquired the 309-key Four Points by Sheraton Sydney, Central Park from US-based KSL Capital Partners, LLC (“KSL Capital Partners”) for AUD201.8 million, or approximately AUD653,000 per key, marking Hoi Hup’s first investment in the Australian property market. Opened in 2018, the hotel features an onsite restaurant, fitness centre, a business centre, and approximately 270 square metres (“sqm”) of meeting and conference space. Prior to the sale, KSL Capital Partners undertook several capital improvements, including the conversion of a conference floor into 12 additional guestrooms and upgrades to the restaurant. The property is located within Sydney’s Tech Central precinct, approximately a 10-minute walk from Central Station. It is also in close proximity to the University of Technology Sydney and several major office developments. KSL Capital Partners acquired the hotel for approximately AUD150 million in 2021. The latest transaction price represents an increase of approximately 34.5% from the previous acquisition price, excluding subsequent capital expenditure.

ARA Korea is Acquiring Courtyard by Marriott Suwon for KRW100 Billion in South Korea

South Korea-based ARA Korea Asset Management (“ARA Korea”) has signed a purchase agreement with South Korea-based Hanwha Corporation (“Hanwha”) to acquire the 288-key Courtyard by Marriott Suwon in Gwanggyo, Suwon, Gyeonggi Province, for approximately KRW100 billion, reflecting approximately KRW347 million per key. ARA Korea expects to complete the acquisition by the end of September 2026. Opened in 2020, the hotel comprises approximately 24,033 sqm of gross floor area across 21 storeys above ground and five basement levels. The hotel forms part of the Suwon MICE complex, which also houses the Suwon Convention Center, Galleria Department Store Gwanggyo and Aqua Planet Gwanggyo. Hotel facilities include two food and beverage outlets, an executive lounge, fitness centre, business centre and meeting and event spaces. The property is located near Samsung Digital City and the semiconductor clusters across southern Gyeonggi Province, supporting corporate, MICE and leisure demand. The acquisition represents ARA Korea's second hotel investment in South Korea, following its acquisition of the 434-key Conrad Seoul in 2024. 

Centurion to Acquire Yan Woo Building in Hong Kong for HKD364 Million

Singapore-based Centurion Corporation Limited (“Centurion”) has signed a provisional sales and purchase agreement for the acquisition of Yan Woo Building in North Point, Hong Kong, for HKD364 million, equivalent to approximately HKD114,300 per sqm based on the property’s total gross floor area of approximately 3,185 sqm. The property is intended to be converted into either serviced residences or student accommodation. The acquisition will be undertaken through a joint venture with related entity Centurion Properties Pte. Ltd. Completed in 2000, the 26-storey mixed-use building comprises a three-storey retail podium from the ground floor and 42 residential units from the fifth floor upwards. The property is located along Java Road, approximately a three-minute walk from North Point MTR Station. Following the proposed conversion, Centurion reportedly expects the property to generate a rental yield of approximately 5.5%. Centurion currently operates two student accommodation properties in Hong Kong under its dwell brand, providing a total of 114 beds under master lease arrangements, as well as a 539-bed worker accommodation project in Sheung Shui. All three projects were undertaken through joint venture arrangements with Hong Kong-based LionRock Property Ltd.

Shinsegae Property and Aman to Develop 70,000-sqm Aman Seoul Mixed-Use Project in South Korea

South Korea-based Shinsegae Property Inc. (“Shinsegae Property”) and Switzerland-based Aman Group S.a.r.l. (“Aman”) have announced plans to develop Aman Seoul in Cheongdam-dong, Gangnam District, Seoul. The approximately 70,000 sqm mixed-use development will span 38 storeys above ground and eight basement levels and comprise a luxury hotel, 49 branded residences, retail and cultural spaces, and a members-only Aman Club featuring a swimming pool, fitness centre and lounge. Shinsegae Property will oversee the project’s planning, strategy and overall development, while Aman will participate in the architecture, design and operations of the development. Upon completion, Aman will operate the hotel, branded residences and community facilities under a long-term management agreement. The project represents Aman’s first entry into the South Korean market and follows the establishment of a joint venture between Shinsegae Property and US-based OKO Group in July 2026, to focus on developing ultra-luxury hotels and branded residences, as well as mixed-use commercial properties across Asia and North America with an initial investment of USD500 million.

AB Capital Acquires Residence Hotel Stripe Sapporo in Hokkaido, Japan

Hong Kong-based AB Capital Investment Limited (“AB Capital”) has acquired the 161-key Residence Hotel Stripe Sapporo, an apartment hotel in Sapporo, Hokkaido, Japan, through its AB Capital Fund II. The acquisition brings AB Capital’s hospitality portfolio to 15 properties. The transaction price was not disclosed. The property is located in Sapporo’s Kita Ward, approximately a six-minute walk from Sapporo Station, providing convenient access across the city and wider region. It is also within a five-minute walk of Hokkaido University and a 10-minute walk of retail destinations including Daimaru Sapporo and Sapporo Stellar Place. As part of its value-add strategy, AB Capital plans to refurbish and reposition the property in partnership with a leading domestic Japanese hotel operator. Planned initiatives include upgrading the technology infrastructure, modernising guest amenities and optimising room functionality. The acquisition follows AB Capital’s acquisitions earlier this year of the 123-key Smile Hotel Sapporo Susukino Minami, 263-key 3S Hotel Atsugi and 139-key 3S Hotel Hiratsuka, and forms part of the firm’s broader strategy to expand its hospitality portfolio in Japan.