2026/04/20 – 2026/05/03
Korea
- Shinsegae Joins Bidding for Orakai Hotel Daehakro in Seoul: Shinsegae Group has joined the bidding for the Orakai Hotel Daehakro in Seoul, expanding its hotel asset acquisition footprint into prime urban locations. Josun Hotels and Shinsegae Property reportedly formed a consortium to participate in the auction and have been included on the shortlist. The bid features a role-divided structure in which Shinsegae Property would acquire the asset while Josun Hotels would take on operations, continuing the pattern established by the acquisitions of Four Points by Sheraton Josun Myeongdong and Gravity Seoul Pangyo. The group is reportedly also reviewing a plan to eventually run its hotel assets through a listed REIT.
- Hotel Shilla Returns to Profit in Q1, Approves Capital Increase for Duty-Free JV: Hotel Shilla recorded Q1 2026 revenue of KRW 1.0535 trillion, operating profit of KRW 20.4 billion, and net income of KRW 6.0 billion, successfully reversing the operating loss posted in the same period a year earlier. On the same day, however, Hotel Shilla resolved to contribute KRW 20 billion to a paid-in capital increase at iPark-Shilla Duty Free, the 50:50 joint venture with HDC—a sum equivalent to 3.3 times its quarterly net income. iPark-Shilla Duty Free, despite recording an operating profit of KRW 4.9 billion in 2025, carries an accumulated deficit of KRW 177 billion and borrowings of KRW 123.2 billion, leaving it in need of working capital reinforcement.
APAC
- JHR Launches Large-Scale Public Offering to Fund Hyatt Regency Tokyo Acquisition: Japan Hotel REIT (JHR) has launched a large-scale capital raise through a domestic and international concurrent public offering of 848,991 new units at an issue price of JPY 79,086 per unit, with follow-on procedures advancing through April. Approximately JPY 65 billion in proceeds is earmarked for the balance payment on the 746-room Hyatt Regency Tokyo, for which JHR signed a sale and purchase agreement last year with a consortium of KKR and Gaw Capital. Japanese inbound demand and global capital’s preference for Japanese hotel assets are now driving capital circulation into the J-REIT market as well.
- China Chain Hotels Add 760,000 Rooms in 2025: According to a report released on April 30 by the China Hotel Association, chain hotel rooms in China grew by 760,000 (10.74%) year-on-year in 2025, bringing the aggregate room count to 7.83 million. Rooms operated by the top 50 hotel groups increased by 550,000 (10.23%), with midscale brands posting particularly strong gains. Over the same period, STR/CoStar reported that for the week ending April 25, China hotel RevPAR rose 6.1% year-on-year, ADR rose 3.6%, and occupancy rose 2.4%, indicating broad-based recovery momentum.
Americas
- Braemar Agrees to Sell Park Hyatt Beaver Creek: According to a disclosure released on April 30 by Braemar Hotels & Resorts, the company has agreed to sell the 193-room Park Hyatt Beaver Creek Resort & Spa in Colorado to Apres Owner LLC for USD 176 million. The sale price corresponds to a cap rate of 5.1% based on trailing twelve-month NOI through December 2025, and the buyer has already paid a non-refundable deposit of USD 6.5 million. The transaction is expected to close in May 2026, with net proceeds slated to be applied toward repayment of convertible notes maturing in June. The deal is regarded as a key transaction in Braemar’s accelerating asset disposition program.
- The St. Regis Chicago Closes Refinancing: It was reported on April 28 that the joint venture between Gencom and GD Holdings closed a USD 125 million refinancing for the 192-room St. Regis Chicago hotel from Banco Inbursa. The loan structure simultaneously repays the USD 76 million mortgage originally provided by Värde Partners as acquisition financing in 2023 while enabling the recovery of approximately USD 49 million in equity. The transaction, which reflects recognition of the asset’s operating performance, illustrates the broader recovery in the lending market for U.S. luxury hotel assets.
Europe
- MCR Acquires London Boutique Hotel Portfolio: The acquisition of a London boutique hotel portfolio by U.S. hotel operator MCR Property Group for GBP 123 million was confirmed in HVS’s European hotel transactions report for the week ending April 17. The same week also saw Batipart’s acquisition of the iconic Pullman Paris Tour Eiffel from Morgan Stanley and QuinSpark, bringing total European hotel assets that changed hands within a single week to over EUR 500 million. According to Savills, the majority of European hotel investors continue to maintain a net buyer position into 2026.
- U.S.–Iran Conflict and Global Lodging Market Update: On April 28, the UK Foreign, Commonwealth & Development Office (FCDO) added the entire UAE, including Dubai and Abu Dhabi, to its “advise against all but essential travel” list, invalidating most standard travel insurance and creating a structural constraint that hotel rate cuts alone cannot overcome. For Hilton, Middle East and Africa RevPAR fell 1.7%, while Europe (6.9%) and Asia Pacific (4.7%) posted resilient growth; for Accor, the UAE saw a sharp 9% decline. The GCC tourism ministers’ meeting estimates regional tourism losses for 2026 at USD 13–32 billion.
