2025/11/09 – 2025/11/23
Korea
- Sono Sells Sono Tower in Munjeong-dong: Sono International has sold its Sono Tower headquarters building in Munjeong-dong, Songpa-gu, Seoul for approximately KRW 250 billion and will remain as a tenant under a master-lease structure. The company plans to use the proceeds to fund expansion in its resort and hotel businesses, including a KRW 170 billion investment in Sono Calm Gyeongju. The move is viewed as a strategy to improve its financial structure while securing capital for growth.
- HDC to Develop “Seoul One” Mixed-Use Complex: HDC Hyundai Development Company is pursuing the “Seoul One” mixed-use development on a 150,000㎡ site along Hwarang-ro in Nowon-gu, Seoul. The project will include residential, office, retail, hotel, and wellness residence components. With total development costs estimated at about KRW 5 trillion and completion targeted for 2028–2029, the inclusion of a hotel component is expected to influence future lodging supply-demand dynamics in the surrounding area.
APAC
- Marriott to Expand City Express into Asia: Marriott International announced plans to expand City Express—its budget brand originating from Latin America—into the Asia market. Positioned at an affordable price point with a practical, no-frills concept, the brand aims to capture middle-class and business demand while filling portfolio gaps in a region where competition in the midscale economy segment is already intense.
- IHG Opens Crowne Plaza in Jakarta: IHG has announced the opening of Crowne Plaza Jakarta PIK2 in Indonesia’s PIK2 district. This marks the sixth IHG-branded hotel in Jakarta and benefits from both strong airport accessibility and major new-town development in the area. As a full-service hotel targeting business, leisure, and MICE demand, it is expected to absorb incremental lodging needs in Jakarta’s growing western and northern corridors.
Americas
- Mori Trust Acquires Equinox Hotel New York: Real estate developers Related and Oxford have sold the lower floors of 35 Hudson Yards—including the luxury Equinox Hotel New York, office space, and retail components—to Japan’s Mori Trust for USD 541 million. The acquisition is part of Mori Trust’s strategy to expand its U.S. portfolio while diversifying income sources.
- Four Seasons Private Residences Las Vegas Secures Project Financing: A consortium of Azure, Luxus, and Two Roads has secured USD 686 million in financing for the Four Seasons Private Residences Las Vegas development. JP Morgan, Sculptor, and Morning Calm are participating lenders. With roughly 75% of the units already pre-sold, the project underscores continued strong demand for ultra-luxury residential and branded residence products.
Europe
- Park Plaza London Riverbank Hotel Refinancing: Netherlands-based PPHE Hotel Group has signed a GBP 95.8 million refinancing agreement with Aareal Bank for the Park Plaza London Riverbank Hotel along the Thames. By replacing its existing loan with a long-term fixed-rate structure, the company aims to mitigate interest-rate volatility while securing additional borrowing capacity to support renovation and portfolio expansion.
- Dalata Begins Delisting Procedures: Ireland-based Dalata Hotel Group has begun the process of delisting from both the London Stock Exchange and Euronext Dublin following its acquisition by a private-equity consortium. The move toward privatization is viewed as a strategy to accelerate portfolio realignment and capital recycling, and is seen as part of a broader trend of listed European hotel operators transitioning into private ownership.
