2026/08/10 – 2026/08/23
Korea
- Goldman Sachs–IGIS Consortium Selected as Preferred Bidder for Timewalk Myeongdong: A consortium comprising US-based Goldman Sachs and South Korea-based IGIS Asset Management has been selected as the preferred bidder for Timewalk Myeongdong, a mixed-use commercial property in Seoul’s Jung District, with a proposed purchase price of approximately KRW 535 billion on a share-deal basis. The asset is held through IGIS Strategic Fund No. 1, whose major investors include the National Pension Service and Korea Post, which acquired the property in 2019 for approximately KRW 405 billion. The upper floors of the 19-story, four-basement-level building house the 279-key ibis Ambassador Seoul Myeongdong.
- Japanese Capsule Hotel Brand First Cabin Opens First Korean Location: Japan’s urban capsule hotel brand First Cabin has opened its first Korean property on the seventh floor of Noon Square in Seoul’s Myeongdong, marking its formal entry into the Korean market. First Cabin Seoul Myeongdong, which opened on August 18, is a project involving major Korean and Japanese partners including Samku I&C and Sean Hotel Group. The opening is expected to ease the retail-heavy tenant mix of a long-vacant Myeongdong asset while absorbing extended-stay demand centered on independent foreign travelers, and is seen as a response to the ongoing shortage of new lodging supply in the Myeongdong area.
APAC
- Best Western Hotel Fino Tokyo Akasaka Sale Agreed: Japan’s ICHIKEN has agreed to sell the trust beneficiary interest in the 87-key Best Western Hotel Fino Tokyo Akasaka in Tokyo’s Akasaka, Minato-ku, for an undisclosed amount. The property comprises an approximately 444-sqm site and roughly 2,385 sqm of gross floor area across a 13-story building with one basement level. Opened in 2020, the hotel features a restaurant, business center, and coin laundry facilities, and is located a three-minute walk from Akasaka and Akasaka-Mitsuke stations, which serve the Tokyo Metro Chiyoda, Ginza, and Marunouchi lines.
- Staybridge Suites Bangkok Sukhumvit Sold: Thailand’s Savetsomphob family, through Sino-Pacific Trading, has acquired the 411-key Staybridge Suites Bangkok Sukhumvit from Thailand’s Origin Hotel for an undisclosed price. The hotel was jointly developed by Origin Hotel and Japan’s Nomura Real Estate Development and opened in early 2023, offering a mix of studio, one-bedroom, and two-bedroom suites catering to both short- and extended-stay guests. The property is located on Sukhumvit Soi 24 in Bangkok, offering strong access to nearby commercial facilities.
Americas
- Dual-Branded New Orleans Fairmont, Element Project Secures Financing: US-based Access Point Financial and TMGOC Ventures co-originated a USD 120 million bridge loan and preferred equity investment for Kailas Companies’ mixed-use redevelopment project in New Orleans. The financing supports the repositioning of a 31-story office building completed in 1970 into a dual-branded property combining a 250-key Fairmont and a 216-key Element. The project will also include Emeril’s Delmonico restaurant and approximately 14,000 sqm of office space.
- Park Hotels & Resorts Continues Non-Core Asset Sales: US hotel REIT Park Hotels & Resorts continues to reshape its portfolio through non-core asset sales. In May, it sold its interest in the 288-key Embassy Suites Old Town Alexandria for USD 29 million; in June, it terminated the short-term ground lease on the 262-key Embassy Suites Austin for approximately USD 6 million; and in July, it sold the 314-key Hilton Short Hills for USD 12 million. The company has disposed of 10 of the 19 hotels identified since its non-core asset sale plan was announced in early 2025, and has sold or disposed of 55 assets for more than USD 3 billion since its spin-off.
Europe
- Radisson Signs New 262-Key Salzburg Property: Radisson Hotel Group has signed the 262-key Radisson Blu Hotel & Conference Center, Salzburg, in Austria. The owner is Austrian real estate investment trust Hotel Salzburg Betriebsgesellschaft, and the hotel will feature the largest banquet facilities in the city, including a ballroom accommodating up to 1,000 guests. The signing reflects Radisson Hotel Group’s brand expansion in Austria, positioning the property as a conference-focused asset targeting MICE demand.
- L+R Group Seeks Third-Party Capital for Hospitality Focus: L+R Group, the GBP 12 billion family office led by the UK’s Livingstone brothers, is restructuring to become a custodian of institutional capital centered on its hospitality specialization. Having unified its hotels, commercial real estate, private credit, and ventures divisions under a single brand in February and reorganized its hotel operating platform as Iconic Hotels & Resorts, the firm is now looking to expand partnerships with outside capital to accelerate growth. Iconic Hotels & Resorts operates a portfolio valued at approximately GBP 7 billion across five countries.
