2026/08/24 – 2026/09/06
Korea
- Ramada Plaza Jeju to reopen as Sheraton: The former Ramada Plaza Jeju, owned by The Korean Teachers’ Credit Union (KTCU) in Tapdong, Jeju, will reopen this September under Marriott’s Sheraton brand after roughly 20 months of full-property renovation. Opened in 2003, the hotel had been operated for 21 years by a KTCU subsidiary under a franchise with Ramada Plaza, but KTCU confirmed the rebranding in 2024 and signed a new franchise agreement with Sheraton. The property has strengthened its appeal with a 100-meter sea-level outdoor infinity pool and Jeju’s only club lounge.
- Prima Hotel mixed-use project nears senior PF conversion: The mixed-use development that Shinsegae Property is pursuing on the former Prima Hotel site in Cheongdam-dong, Gangnam-gu, Seoul, is accelerating construction ahead of its conversion to senior project financing (PF) this September. Selection for Seoul’s station-area revitalization program in 2024 enabled high-density development at a floor area ratio of around 881%, and the plan was reoriented to a mixed-use complex including a hotel and residences through upzoning from Class 3 general residential to general commercial. Shinsegae Cheongdam PFV has continued to fund the project with a KRW 700 billion bridge loan even after breaking ground, with total project cost estimated at roughly KRW 1.5 trillion.
APAC
- IHG–GCP sign 14-hotel Kyoto portfolio deal: IHG announced on August 24 that it had signed a portfolio deal with GCP Hospitality, the hospitality arm of Gaw Capital Group, covering 14 hotels totaling 1,063 keys in Kyoto, Japan. The portfolio comprises 12 Garner, one Holiday Inn Express, and one unbranded property, which will open in phases over the next 12 months following renovation and rebranding. The transaction positions IHG as one of the largest international hotel operators in Kyoto while reaffirming its long-term partnership with GCP Hospitality.
- Ayala Land to inject hotel portfolio into AREIT: The Philippines’ Ayala Land will transfer a PHP 20 billion portfolio to the listed REIT AREIT. The portfolio includes four malls and four hotels—the 438-key Seda Vertis North, the 280-key Fairmont Makati, the 32-key Raffles Makati, and the 578-key New World Makati Hotel. The combined Fairmont–Raffles asset will be acquired for PHP 2.62 billion in cash while the remainder is folded in via a share swap, and after the deal hotel assets will account for 9% of AREIT’s PHP 179 billion portfolio.
Americas
- Rockpoint·Newbond acquire Hotel Maren: In the United States, Rockpoint and Newbond acquired the 141-key Hotel Maren Fort Lauderdale, Curio Collection by Hilton, on Fort Lauderdale Beach in South Florida, for an undisclosed price. Completed in 2021, the 12-story hotel features rooms with ocean and waterway views, an outdoor pool, and F&B and banquet facilities, and the deal extends the two firms’ collaboration following their acquisition of the Westin Tampa Waterside in September 2025. It signals continued institutional investment demand for lifestyle hotels.
- MGM’s Borgata repositions flagship tower: Borgata Hotel Casino & Spa, operated by MGM Resorts in Atlantic City, New Jersey, has announced a $107 million renovation of its flagship guest tower, the Borgata Tower. Work begins on September 13, with renovated rooms revealed floor by floor from October. Covering all rooms and suites, corridors, and the main lobby, the repositioning applies an Italian-inspired design by Avenue Interior Design. The investment is part of a resort-wide repositioning program running through 2027.
Europe
- UMHL to open UMusic Hotel in London: In the UK, UMusic Hospitality & Lifestyle (UMHL) announced it will open the UMusic Hotel Denmark Street on London’s Denmark Street in Q4 2026 in partnership with Outernet London. It marks the brand’s first hotel in the UK and its second in Europe after the 2022 UMusic Hotel Madrid. Set on the music street once known as “Tin Pan Alley,” it will be linked to Outernet’s live venues, nightlife, and retail, with UMHL running the F&B concept and the live music venue The Lower Third.
- Event-driven demand lifts Madrid’s September lodging market: In major European markets, event-driven demand is emerging as a key variable in the September lodging market. In Madrid, Spain, a major international motorsport event overlapping with Shakira’s concert schedule has markedly expanded September travel demand, and downtown hotels are seeing booking strength beyond the usual peak season. This suggests that specific sports and concert events are having a growing impact on short-term lodging demand and rates; however, such event effects are largely temporary and should be interpreted separately from structural, sustained performance improvement.
