2026/10/12 – 2026/10/25
Korea
- Five-Star Hotel Planned for the Gyeongbuk Provincial Government New Town: On October 22, Gyeongsangbuk-do Province signed a memorandum of understanding with Josun Hotels & Resorts, the City of Andong, and Gyeongbuk Development Corporation to develop a five-star hotel in the new town surrounding the Gyeongbuk provincial government complex. The province is shifting its strategy from attracting day-trip visitors toward establishing a base for longer-stay tourism, and it has proposed linking the hotel to the region’s World Heritage sites, traditional culture, and food resources. The parties also intend to cooperate on food and beverage, tourism, and MICE. Key count, total project cost, and construction and completion schedules were not disclosed at this stage of the agreement.
- The Hyoosik Raises KRW 65 Billion in Pre-IPO Funding: On October 20, lodging operations and solutions company The Hyoosik announced that it had raised KRW 65 billion in pre-IPO investment through a project fund jointly managed by VIP Asset Management and TS Investment. The round includes KRW 15 billion in secondary share sales by existing shareholders, bringing cumulative funding to KRW 107.8 billion. The company plans to deploy up to KRW 100 billion through 2027 to expand its share of the three- and four-star market in Seoul, the capital region, and Busan, applying an asset-light approach under which it does not own buildings. It is targeting a listing in 2028.
APAC
- Hikari Hospitality Fund Acquires Osaka Hotel: Singapore-based Hikari Hospitality Fund acquired the 48-key R Hotel Namba Daikokucho in Osaka from Hong Kong-based Raion Capital. The price was not disclosed. The property was completed in 2020, stands nine storeys, and has a gross floor area of about 1,040 sqm. Raion Capital had acquired the asset in 2024 and subsequently refurbished it. The transaction is Hikari Hospitality Fund’s first hotel acquisition, and it illustrates the continued flow of global investment capital into small and mid-sized lodging properties in Japan.
- Anantara Retreat Brand Makes Its India Debut: On October 19, Minor Hotels signed a management agreement with JK Urbana Garden, a joint venture of JK Urbanscapes Developers, and announced the development of Anantara Retreat Darjeeling Hills in West Bengal, India. The site is the 849-acre Tindharia Tea Estate, about 40 km from central Darjeeling, and the estate will continue to operate as a working plantation after development. The property will comprise 70 keys, made up of 35 suites and 35 tented villas, with opening targeted for 2031. It is the first Anantara Retreat in India.
Americas
- Sonesta Cuts Staff Following TKO Hotels’ Bid for SVC: On October 20, Skift reported that Sonesta had begun reducing corporate headcount across communications, marketing, loyalty, quality assurance, training, food and beverage, and accounting. The move came shortly after TKO Hotels proposed an all-cash acquisition of Service Properties Trust’s entire hotel portfolio for USD 2 billion. Among the target assets, the Sonesta-operated hotels account for 17,013 keys, or about 17% of Sonesta’s total room base. TKO has required the termination of all management and franchise agreements prior to closing, with separation costs estimated at about USD 500 million.
- Brasswater Acquires Two Hampton Inns in Palm Beach County: On October 21, Montreal-based Brasswater acquired two Hampton Inn properties in Palm Beach County, Florida, from Hospitality Investors Trust for a combined USD 48.04 million. The assets are the 164-key Hampton Inn & Suites Boynton Beach and the 110-key Hampton Inn West Palm Beach Florida Turnpike. Axonic Capital provided USD 42.2 million in acquisition financing. The seller had purchased the two assets for a combined USD 43.6 million in 2015.
Europe
- Leonardo Hotels Acquires The Bristol Hotel: Leonardo Hotels, the European division of Fattal Hotel Group, acquired the 187-key, four-star Bristol Hotel in Bristol, United Kingdom, from The Doyle Collection. The price was not disclosed. Following the acquisition, the buyer plans to invest GBP 11.5 million in a refurbishment and rebrand the property as Leonardo Royal Hotel Bristol. The transaction is the first investment under the third institutional partnership Fattal has formed in the past four years, a vehicle that has secured more than EUR 850 million of equity for acquisitions.
- Accor Posts 4.9% RevPAR Growth in Q3 and Raises EBITDA Guidance: On October 22, Accor reported third-quarter results, with group RevPAR up 4.9%. The Europe and North Africa region rose 2.5%, driven by rate. France, which accounts for 43% of regional room revenue, was slightly up on the back of September events; the United Kingdom was resilient; and Germany turned positive over the summer, posting high single-digit growth in September. Quarterly revenue rose 7.7% to EUR 1,503 million, and the lower bound of 2026 recurring EBITDA guidance was raised to EUR 1,270 million.
