2026/06/15 – 2026/06/28
Korea
- First Cabin Opens at Noon Square, Myeongdong: First Cabin, one of Japan’s three major capsule hotel brands, opened its first Korean location on the 7th floor of Noon Square in Myeongdong, Seoul. The project converted existing retail space into a lodging establishment. Igis Asset Management pursued a portfolio restructuring to diversify rental income, with Cushman & Wakefield advising on operator sourcing and lease structuring. The project has drawn attention as a case of expanding urban lodging supply through the repositioning of existing assets.
- CapitaLand Acquires voco Seoul Myeongdong: CLARA II, the private fund of Singapore-based CapitaLand Investment, acquired the 576-key voco Seoul Myeongdong from Gravity Asset Management Group and US-based TPG Angelo Gordon for KRW 368 billion. Previously known as Tmark Grand Myeongdong, the property was rebranded under the voco flag following its 2024 acquisition by the two firms for KRW 228.2 billion. The transaction price is understood to represent an approximately 20% discount to the appraised value.
APAC
- United Urban Acquires Two Hotels in Japan: Japan-based J-REIT United Urban Investment Corporation acquired Grand STAY Hakata Station North in Fukuoka and GRIDS TOKYO UENO HOTEL + HOSTEL in Tokyo, at JPY 46.1 million and JPY 81.3 million per key, respectively. The transaction is seen as a continuation of the trend of J-REITs acquiring small- to mid-size lodging properties near major transit hubs.
- Singapore Eases Lodging Development Restrictions in Historic Precincts: The Singapore government announced an easing of planning restrictions on hotel, hostel, and serviced apartment developments in selected urban heritage areas. Restrictions on new accommodation developments in the Upper Circular Road area will be lifted, and parts of Beach Road will also be opened to new lodging uses. The move, reflecting a review by the Urban Redevelopment Authority, marks a policy shift aimed at supporting tourism growth and revitalizing key commercial precincts.
Americas
- Cincinnati Downtown Marriott Closes Financing: Portman, through a public-private partnership with the City of Cincinnati, Hamilton County, the State of Ohio, and 3CDC, closed on USD 540 million in financing for the development of the 700-key Cincinnati Downtown Marriott. Groundbreaking is scheduled for July 21. The hotel will serve as the centerpiece of the city’s USD 828 million Convention Center District Revitalization Plan, with Aimbridge Hospitality appointed as operator.
Europe
- Ironstone and Ogilvy Acquire 11 Pentahotels: US-based Ironstone Group and London-based Ogilvy Management acquired a portfolio of 11 Pentahotel-branded properties totaling 1,808 keys across Germany, Belgium, and France from German real estate company Aroundtown SA for EUR 275 million. The portfolio comprises six hotels in Germany, four in Belgium, and one in France, and is set to be rebranded under IHG’s Holiday Inn, voco, and Garner flags, with Luxembourg-based Bralower & Loewe appointed as operator.
- Pictet Acquires Zurich Marriott: Swiss asset manager Pictet acquired the 266-key, five-star Zurich Marriott Hotel through its Elevation II direct real estate fund, in partnership with Swiss asset manager Vertell. Marriott’s management agreement will be retained. The seller and transaction price were not disclosed. The largest five-star property in Zurich’s city centre, the hotel is currently undergoing a four-year phased renovation programme covering all guest rooms.
- IHG Signs Four New Hotels in Italy: IHG Hotels & Resorts signed four new hotels in Italy, bringing its total open and pipeline portfolio in the country to over 50. The new signings include a dual-branded Crowne Plaza and Staybridge Suites in Milan, a Hotel Indigo in Apulia, and a Garner Hotel in Turin. IHG regards Italy as a priority growth market in Europe and is pursuing a multi-brand expansion strategy centered on conversion opportunities.
