2026/05/04 – 2026/05/17
Korea
- Paradise Co Accelerates Review of Additional Hotel Acquisitions: In a Q1 earnings analysis report released on May 15, KB Securities indicated that, following the completion of its acquisition of the Grand Hyatt Incheon West Tower, Paradise Co is actively reviewing additional hotel asset acquisitions. Maison Glad Jeju, which houses Paradise Casino Jeju Grand, and K-Square Hongdae in Seoul have been cited as potential acquisition targets. The move is viewed as part of the company’s strategy to further strengthen its integrated resort competitiveness, following the expansion of Paradise City Incheon’s room inventory from 769 to 1,270.
- Nuveen and Weave Living to Develop Serviced Apartment in Seoul: On May 6, U.S.-based Nuveen and Hong Kong-based Weave Living announced the joint acquisition of an asset in Gwanghui-dong, Jung-gu, Seoul, for approximately KRW 22.5 billion, with plans to redevelop it into a 62-key Weave Suites serviced apartment property. Located a one-minute walk from Dongdaemun History & Culture Park Station, the property is targeted to open in January 2027. The transaction marks Nuveen’s first living-sector investment in Seoul, with the firm pointing to the structural shift in Korea’s rental market away from the jeonse-based system toward monthly-rent-based arrangements.
APAC
- IHG to Convert Hotel Mount Fuji into Vignette Collection: On May 14, IHG and Japan-based FUJI KYUKO announced an agreement to reopen the 150-key Hotel Mount Fuji, originally opened in 1963, as a Vignette Collection property following extensive renovation. Situated atop Mount Odeyama at an elevation of 1,100 meters overlooking Lake Yamanaka, the property will become the third Vignette Collection asset in Japan, joining RIGHA Royal Hotel Osaka and The Windsor Hotel TOYA. The move is viewed as part of IHG’s broader strategy to expand its presence in the Japanese market through its lifestyle conversion brand.
- Construction Commences on Integrated Eco-Urban Development in Sa Pa, Vietnam: Vietnam-based Hong Phong ID and Ecopark Hai Duong announced on May 8 that they have commenced construction on the O Quy Ho tea hill eco-urban development, an approximately 29.3-hectare project located in Sa Pa in northwestern Hanoi, with a total investment of approximately VND 2.42 trillion. The project comprises 358 residential units, including 65 townhouses and 293 villas, together with an approximately 300-key five-star hotel, schools, and supporting amenities, with completion targeted for the third quarter of 2030. The development is expected to further reinforce Sa Pa’s standing as a premium resort destination amid rising demand for resort accommodations in northern Vietnam.
Americas
- New York Edition Hotel CMBS Transfers to Special Servicing upon Maturity: The USD 647.5 million single-borrower CMBS from Times Square Trust 2018-20TS, originated by Natixis in 2018, transferred to special servicing after failing to meet its May maturity date. The loan was supported by a 99-year ground lease running through 2117, backed by the 454-key Edition by Marriott hotel and four floors of retail space. Having previously transferred to special servicing in November 2022 before being extended in late 2023, the case is viewed as a renewed manifestation of maturity pressure on hotel CMBS in the New York market.
- California Hyatt Regency Secures Tax-Exempt Bond Financing: Nonprofit development firm National Core announced on May 15 that it had closed USD 103.6 million in tax-exempt bond financing for the renovation of the Hyatt Regency Ontario in California. The financing comprises USD 77.1 million in tax-exempt hotel revenue bonds and USD 26.5 million in tax-exempt C-PACE bonds, with J.P. Morgan acting as bond underwriter. Structured as a 35-year fixed-rate facility with a five-year interest-only period followed by 30-year amortization, the deal is notable as a financing case for the repositioning of a distressed hotel acquired through a bankruptcy auction.
Europe
- Calena Partners Acquires Three Hotels in Spain: Spanish real estate investment firm Calena Partners acquired three hotels totaling 887 keys for approximately EUR 200 million from Hotel Investment Partners, majority-owned by Blackstone and GIC. The acquired assets comprise the 260-key, five-star Fergus Style Tobago and the 417-key, four-star Barceló Ponent Beach in Mallorca, together with the 210-key, three-star Corallium Beach by Lopesan in the Canary Islands. The transaction was structured as a club deal involving several Spanish family offices, with all existing operators to be retained.
- KSL Divests Cameron House in Scotland: It was confirmed on May 14 that London-based real estate investment firm Victory Group has acquired the five-star, 208-key Cameron House on Loch Lomond, located on the shore of Loch Lomond in Scotland, from U.S. private equity firm KSL Capital Partners for approximately GBP 100 million. Located about an hour northwest of Glasgow, the property comprises five restaurants, three bars, two golf courses, and three swimming pools, and Victory Group plans to deploy substantial capital investment into its wellness and service offerings.
