2025/09/07 – 2025/09/21
APAC
- Seibu’s Acquisition of Ace Hotels: Tokyo-based Seibu Prince Hotels has agreed to acquire Ace Group International, the U.S. lifestyle hotel brand Ace Hotels’ parent company, for USD 90 million. The deal is expected to close by the end of the month. The companies said they will leverage each other’s strengths to accelerate global expansion. Ace Hotels currently operates eight properties worldwide, including one in Kyoto, and Seibu’s total hotel count in and outside Japan will rise to 94 after the acquisition.
- Coliwoo Receives Conditional SGX Mainboard Approval: Coliwoo, the co-living brand of Singapore’s LHN, received conditional eligibility for listing on the SGX Mainboard on September 9. As of June 2025, the brand has 2,960 rooms with a 97.2% occupancy rate. Recent moves include winning a tender for a 382-key resort-chalet on the state-owned site at Jalan Loyang Besar, opening the 24-key Coliwoo Hotel Kampong Glam, and divesting the Geylang Hotel.
Americas
- Record-Size C-PACE Financing: Nuveen Green Capital committed USD 290 million in C-PACE financing for the Pendry Hotel & Residences development in downtown Tampa, setting a new industry record. Led by Two Roads Development, the project surpasses the previous high of USD 255.9 million, with the C-PACE funds dedicated to clean-energy upgrades and flood-mitigation systems.
- Wagner Hotel Sale: Silver Creek Development acquired interests in the former Wagner Hotel at Battery Park, New York, for USD 110 million through Chapter 11 proceedings. The lower 14 floors of the 39-story building—comprising 298 rooms and a 1,625-square-meter banquet area—will be renovated for a luxury relaunch, with the possible return of a Marriott-affiliated brand referenced.
- U.S. CMBS Trends: Fitch reported that in September, resolution activity in U.S. CMBS outpaced new delinquencies, driving the overall delinquency rate lower. While office loans remain a pressure point, credit conditions across commercial real estate lending—including hotels—showed modest improvement.
- U.S. Lodging REIT Outlook: Nareit expects lodging REIT RevPAR to be flat to slightly positive in 2025–2026, while faster-rising costs may lead to a gradual EBITDA slowdown. Group demand and luxury resorts are seen as resilient, and many REITs are focusing more on asset sales, share repurchases, and capex than on acquisitions.
Europe
- Pullman Paris Montparnasse Deal Completion: Bain Capital, in a JV with Columbia Threadneedle and QuinSpark Investment, acquired the 957-room Pullman Paris Montparnasse from URW. The transaction is understood to be around EUR 300 million and is viewed as a sign of renewed institutional capital flowing into large, gateway-city single assets.
- Launch of Global Mutual Hotels: Following its acquisition of Okami Hospitality Partners, Global Mutual launched “Global Mutual Hotels.” With approximately EUR 500 million in AUM, the platform plans to continue operating in Europe while expanding into the U.S., Middle East, and Asia, aiming to deliver improved risk-adjusted returns through active asset management.
