2026/07/06 – 2026/07/19
Korea
- REPAN, TPG Angelo Gordon, and Weave Living to Convert Jongno Office into Co-Living: REPAN Asset Management, US-based TPG Angelo Gordon, and Hong Kong-based Weave Living have acquired the ABL Life headquarters building and four adjoining parcels in Sungin-dong, Jongno-gu, Seoul, for approximately KRW 60 billion. The site will be redeveloped into Weave Suites, a 546-key co-living property spanning two basement levels and 16 storeys above ground with a gross floor area of approximately 19,266 square meters. Total development cost is estimated at KRW 170 billion, with completion targeted for 2030. The project illustrates the trend of converting urban offices into extended-stay lodging and residential facilities.
- Asset Manager and Beneficiary Clash over Lotte City Hotel Myeongdong Sale: Multi-Asset Global Investments, an affiliate of Mirae Asset, is pursuing the sale of the 435-key, four-star tourist hotel Lotte City Hotel Myeongdong, but the beneficiary, Hotel Lotte, is reportedly objecting on the grounds that the process advanced without sufficient prior consultation. The asset was placed into a private real estate fund in 2016 and carries a master lease with Hotel Lotte running through 2036. As with January’s Centerfield case, the situation reflects diverging interests between the asset manager and the beneficiary.
APAC
- SC Capital Acquires Citadines Central Shinjuku Tokyo from Mizuho Leasing: Singapore-based SC Capital Partners has acquired the Citadines Central Shinjuku Tokyo from Japan’s Mizuho Leasing through its Japan Hospitality Fund. Located in Kabukicho, Shinjuku, the 206-key property sits within a six-minute walk of JR Shinjuku Station. SC Capital plans guestroom and public-area renovations along with upgrades to F&B and amenities, illustrating the trend of global investors pursuing value-add investment in Japanese lodging properties.
- Accor and Sun Group Sign 5,300-Key Vietnam Pipeline: Accor and Vietnam’s Sun Group have signed a strategic agreement to develop more than 5,300 hotel, resort, and serviced-residence keys across Vietnam over the next five years. Targeting destinations including Phu Quoc and Danang, the deal will introduce brands such as Sofitel Serviced Residences, Swissôtel Living, Tribe, and SO/ to Vietnam for the first time while expanding MGallery, Grand Mercure, and ibis Styles. Accor’s operating portfolio in Vietnam will reach 45 hotels.
Americas
- Ascendant Capital Acquires Eight Hotels in Virginia Beach and the Outer Banks: Ascendant Capital has acquired an eight-hotel portfolio totaling 965 keys in Virginia Beach, Virginia, and the Outer Banks, North Carolina, from Coastal Hospitality Associates. Concentrated in the coastal resort market, the portfolio is expected to undergo value enhancement including renovations. The deal illustrates investor demand to secure locally focused portfolios in the U.S. secondary resort market.
- Charleston Place Completes Latest Phase of USD 150 Million Renovation: Charleston Place, an independent luxury hotel in the historic district of Charleston, South Carolina, has completed the latest phase of a renovation totaling USD 150 million. New additions include a rooftop pool and garden bar, Perch, a Club Level on the seventh and eighth floors, and a two-story Club Lounge. The refresh of all 419 keys, including 56 suites, is slated for completion in 2026, marking a phased repositioning of a large independent asset.
Europe
- Scandic Secures SEK 7.5 Billion Long-Term Financing: Scandic, the largest hotel company in the Nordic countries, has secured a long-term financing framework of SEK 7.5 billion. Effective July 2, it carries a three-year term with a two-year extension option. Arranged by DNB and Nordea, the syndicate includes AIB, Barclays, NatWest, Swedbank, and SEK. The financing supports Scandic’s growth strategy, including its planned acquisition of Dalata Hotel Group, reflecting the expanded financial flexibility and expansion stance of a European brand.
- Brown Hotels Acquires Berlin’s Former Wyndham Excelsior: Brown Hotels, the hotel division of Israel Canada Group, has acquired a four-star, 316-key hotel in Berlin that previously operated as the Wyndham Excelsior Hotel Berlin before closing several years ago, and will invest approximately EUR 50 million in a full renovation. Separately, it has signed a conditional agreement to acquire the operations of five hotels in Berlin, Munich, Leipzig, and Hamburg for a combined EUR 15.8 million, accelerating its expansion in the German market.
