2026/05/11 – 2026/05/24
Special Briefing
- US-Iran War and Global Lodging Market Trends: An analysis published by HVS on May 21 examined the sentiment of hotel owners and investors in the GCC region regarding the U.S.-Iran conflict. The conflict’s impact on lodging demand and investment sentiment in the Middle East remains an ongoing subject of observation. The analysis summarizes the perspectives of GCC market participants, and further analysis will be included in the next edition as detailed data becomes available.
Korea
- Hilton Signs Agreement for Hilton Garden Inn Busan Gijang: Hilton has signed a franchise agreement with MS&C to open “Hilton Garden Inn Busan Gijang” in 2028. Hilton announced the signing of a franchise agreement with MS&C to open Hilton Garden Inn Busan Gijang in 2028. Busan is a market that combines coastal tourism demand from areas such as Haeundae and Gwangalli with business demand, and this case illustrates the trend of global brands expanding their footprint in Korea’s southeastern region. It is meaningful in that the entry of midscale global brands continues in the Busan hotel market, where new supply is limited.
APAC
- Pro-invest Acquires Coogee Sands in Sydney: Australian asset manager Pro-invest, in partnership with MEC Global Partners Asia, the investment arm of Japan’s Mitsubishi Estate, has acquired a hotel in Sydney. Pro-invest partnered with MEC Global Partners Asia to acquire the 80-key Coogee Sands Hotel & Apartments in Sydney, with the total investment, combining acquisition and capital expenditure, amounting to approximately AUD100 million, or AUD1.25 million per key. The property is currently closed and undergoing renovation and repositioning, with a target to re-open in the fourth quarter of 2026.
- Singapore Commits SGD740 Million to Tourism Development Fund: Under the Greater Southern Waterfront masterplan, Singapore is advancing several tourism infrastructure developments, including an integrated cruise and ferry terminal at Marina South and a new MICE hub near the Marina Bay MRT station, which are expected to strengthen the country’s cruise and business tourism capacity through additional berthing capacity, convention facilities, hotels, retail, and entertainment components. In line with its Tourism 2040 vision, the government plans to inject an additional SGD740 million into the Tourism Development Fund over the next five years.
Americas
- BD Hotels Sold Manhattan’s Chambers Hotel: Richard Born’s BD Hotels has sold a closed hotel in Manhattan’s Midtown, the Chambers Hotel Central Park South, with Toronto-based investment firm Hennick & Company acquiring the 16-story building for USD66.2 million. The hotel was previously operated under the now-defunct Sonder by Marriott Bonvoy brand but recently ceased operations, and its future use under the new ownership remains uncertain. The transaction is viewed as one carrying the potential for a change of use of an urban hotel asset.
- Barings Refinances Salt Lake City Hotel: Barings has stepped in to refinance a luxury hotel in Salt Lake City. The Athens Group and Hatteras Sky have secured a USD78 million loan to refinance Asher Adams, a 225-key luxury hotel operated under the Marriott Autograph Collection brand in Salt Lake City, Utah, with Barings providing the loan and WAY Capital arranging the transaction. This is a case of financing for a repositioned asset that leverages its location near NBA and NHL arenas.
Europe
- Invesco and SPREA Acquire Radisson Hotel in Bilbao: Global asset manager Invesco, together with Spain’s SPREA, has acquired a five-star hotel in Bilbao. Invesco Real Estate, in partnership with SPREA, the private banking real estate investment division of Spain’s Santander bank, acquired the 137-key, five-star Gran Via Bilbao in northern Spain for approximately EUR42 million. Formerly Santander’s headquarters building, the hotel is located in central Bilbao next to the Abando train station and features a restaurant, a rooftop bar, four meeting rooms, and a swimming pool, and is leased to the Radisson Hotel Group under a long-term agreement.
- King’s Cross Acquires Great Northern Hotel in London: King’s Cross Group, a partnership between Australia’s largest pension fund AustralianSuper and Federated Hermes, has acquired the leasehold interest in the five-star, 88-key Kaya Great Northern Hotel in London from the UK subsidiary of Turkey’s Kaya for GBP20 million. The hotel is located at London’s King’s Cross and St Pancras International train stations, and Kaya will continue operating it under a long-term lease. This is a case of global pension fund capital investing in a luxury hotel in a London gateway location.
