{"id":26378,"date":"2026-08-31T08:00:19","date_gmt":"2026-08-30T23:00:19","guid":{"rendered":"https:\/\/lobin.co\/?post_type=article&p=26378"},"modified":"2026-08-31T08:00:19","modified_gmt":"2026-08-30T23:00:19","slug":"lobin-weekly-update-059","status":"publish","type":"article","link":"https:\/\/lobin.co\/en\/insight\/article\/lobin-weekly-update-059\/","title":{"rendered":"Lodging Market Weekly Update 059"},"content":{"rendered":"<style>li {margin-bottom: 10px;} h6 {border-top: 1px dashed #999999; padding-top: 15px;}<\/style>\n<p>2026\/08\/17 &#8211; 2026\/08\/30<\/p>\n<h6><i class=\"fa-regular fa-circle-right\"><\/i> Korea<\/h6>\n<ul>\n<li><a href=\"https:\/\/m.edaily.co.kr\/News\/Read?newsId=01889286645549944&#038;mediaCodeNo=257\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Downtown Hotel Investment Heats Up Again<\/strong><\/a>: Downtown Seoul hotels, once the top candidates for conversion into offices or residential use during the COVID-19 pandemic, are re-emerging as a core target for institutional investors. Against a backdrop of recovering inbound tourism demand and limited new supply, a growing number of players are converting offices into hotels or moving directly into new hotel development. The Mighty Building in Myeongdong, whose sale fell through last year, has returned to the market, with Mastern Investment Management reportedly appointing Savills as sale advisor to launch a re-marketing process.<\/li>\n<li><a href=\"https:\/\/m.edaily.co.kr\/News\/Read?newsId=01889286645549944&#038;mediaCodeNo=257\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Bowon Building Offered as a Tourist Hotel Development Site<\/strong><\/a>: The wave of hotel investment has expanded beyond acquisitions of existing assets to sites suitable for new development. The Bowon Building near Gangnam Station, set to go to tender at the end of this month, is drawing attention as a site that can be developed not only as an office but also as a four-star tourist hotel of more than 300 keys. In particular, with the existing building entirely vacant, development can proceed immediately without any tenant eviction process, cited as a key strength. The case is seen as evidence of development-oriented investment demand betting on the growth potential of downtown tourism districts.<\/li>\n<\/ul>\n<h6><i class=\"fa-regular fa-circle-right\"><\/i> APAC<\/h6>\n<ul>\n<li><a href=\"https:\/\/www.hotelnewsresource.com\/article142634.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>NIPPON REIT Acquires Fukuoka Capsule Hotel at a Discount to Appraised Value<\/strong><\/a>: In Japan, NIPPON REIT acquired the Fukuoka capsule hotel 9h Hakata station from TU31 Godo Kaisha for approximately JPY 2.06 billion. This translates to about JPY 9.9 million per capsule, a discount of roughly 39.4% to the property&#8217;s appraised value of JPY 3.4 billion. Completed in 2020, the nine-story mixed-use building operates 208 capsules across its third to ninth floors, and was regarded as an asset with strong access to Fukuoka Airport given its location a three-minute walk from Hakata Station.<\/li>\n<li><a href=\"https:\/\/www.hotelnewsresource.com\/article142634.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>AWC to Develop Plaza Ath\u00e9n\u00e9e Hotel in Bangkok<\/strong><\/a>: In Thailand, integrated lifestyle real estate group Asset World Corporation (AWC) unveiled a plan to convert the existing River Garden in Bangkok into the 146-key ultra-luxury Plaza Ath\u00e9n\u00e9e hotel. The project represents an investment of approximately THB 2.9 billion, spanning more than 20,000 sqm of gross floor area across 18 storeys, and forms part of AWC Riverside Journey, a mixed-use development along the Chao Phraya River. Together with the 192-key Ritz-Carlton Bangkok, The Riverside, which AWC is developing with Marriott, it is targeted to open in 2028.<\/li>\n<\/ul>\n<h6><i class=\"fa-regular fa-circle-right\"><\/i> Americas<\/h6>\n<ul>\n<li><a href=\"https:\/\/www.wsj.com\/real-estate\/commercial\/investors-are-snapping-up-shabby-hotels-and-whipping-them-into-shape-ca090cf2\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Value-Add Investment Spreads in the US<\/strong><\/a>: In the US, value-add investment involving the acquisition and renovation of aging hotels is spreading. First-half US hotel transactions were estimated to have risen approximately 28% year-on-year. JMI Realty acquired the 254-key Hilton Garden Inn in Austin this past June at around USD 100,000 per key, and plans to invest an additional roughly USD 65,000 per key in renovations. As brand operators press more firmly for compliance with renovation requirements, a trend of financially strained owners moving to sell has continued.<\/li>\n<li><a href=\"https:\/\/www.hospitalitynet.org\/news\/4134132\/marriott-and-the-reef-resorts-spa-sign-three-resort-conversion-in-playa-del-carmen-to-debut-tribute-portfolio-all-inclusive-brand\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Three Mexican Resorts to Convert to Tribute Portfolio<\/strong><\/a>: In the Americas, Marriott International signed an agreement with The Reef Resorts &#038; Spa to convert three resorts in Playa del Carmen, Mexico, to the all-inclusive Tribute Portfolio brand. The properties are the 198-key The Reef Playacar Beachfront, the 120-key The Reef 28 Adults-Only, and the 198-key The Reef Coco Beachfront, totaling 676 keys, with The Reef Coco set to expand to 358 keys by 2028. Following renovations in late 2026, the resorts are expected to join the brand in 2027.<\/li>\n<\/ul>\n<h6><i class=\"fa-regular fa-circle-right\"><\/i> Europe<\/h6>\n<ul>\n<li><a href=\"https:\/\/www.hotelnewsresource.com\/article142635.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>BNP Paribas Sells Room Mate Macarena<\/strong><\/a>: Global asset manager BNP Paribas Asset Management sold the 130-key, three-star Room Mate Macarena hotel in Madrid, Spain, for EUR 80 million. This corresponds to approximately EUR 615,000 per key. Built in 1943, the hotel was acquired by AXA Real Estate in 2015 for around EUR 40 million and later transferred to BNP Paribas Asset Management through its acquisition of AXA IM, and thus changed hands at more than double the price after just over a decade.<\/li>\n<li><a href=\"https:\/\/www.hotelnewsresource.com\/article142635.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Townhouse Hotels Acquires Two Hotels in the Netherlands<\/strong><\/a>: Dutch owner-operator Townhouse Hotels acquired two adjacent four-star hotels in central Breda\u2014the 87-key Hotel Keyser and the 19-key Hotel Botanique\u2014from local hoteliers. The transaction was supported by Dutch hotel investment company European Hotel Capital (EUHC). Townhouse Hotels, formerly known as LBG Hotels, operates 10 hotels in the Netherlands, and the deal was seen as an instance of a Europe-based operator expanding its portfolio.<\/li>\n<\/ul>\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"22788\" class=\"elementor elementor-22788 elementor-22771\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-685e57f e-con-full e-flex e-con e-parent\" data-id=\"685e57f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8b60e79 elementor-widget elementor-widget-wpforms\" data-id=\"8b60e79\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"wpforms.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"wpforms-container wpforms-render-modern\" id=\"wpforms-22767\"><form id=\"wpforms-form-22767\" class=\"wpforms-validate wpforms-form wpforms-ajax-form\" data-formid=\"22767\" method=\"post\" enctype=\"multipart\/form-data\" action=\"\/en\/wp-json\/wp\/v2\/article\/26378\" data-token=\"0e22f2ea7ccd439d8500db44e6eba56b\" data-token-time=\"1789089771\"><noscript class=\"wpforms-error-noscript\">Please enable JavaScript in your browser to complete this form.<\/noscript><div id=\"wpforms-error-noscript\" style=\"display: none;\">Please enable JavaScript in your browser to complete this form.<\/div><div class=\"wpforms-field-container\">\t\t<div id=\"wpforms-22767-field_5-container\"\n\t\t\tclass=\"wpforms-field wpforms-field-text\"\n\t\t\tdata-field-type=\"text\"\n\t\t\tdata-field-id=\"5\"\n\t\t\t>\n\t\t\t<label class=\"wpforms-field-label\" for=\"wpforms-22767-field_5\" >Email Name Layout<\/label>\n\t\t\t<input type=\"text\" id=\"wpforms-22767-field_5\" class=\"wpforms-field-medium\" name=\"wpforms[fields][5]\" >\n\t\t<\/div>\n\t\t<div id=\"wpforms-22767-field_1-container\" class=\"wpforms-field wpforms-field-content\" data-field-type=\"content\" data-field-id=\"1\"><div id=\"wpforms-22767-field_1\" class=\"wpforms-field-large wpforms-field-row\" aria-errormessage=\"wpforms-22767-field_1-error\"><h4><i class=\"fa-solid fa-envelope-circle-check\"><\/i> Sign Up for the Lodging Market Weekly Update!<\/h4>\n<p>The email and name submitted will be used only for sending the newsletter, and you can cancel your subscription at any time using the unsubscribe link in the newsletter.<\/p>\n<div class=\"wpforms-field-content-display-frontend-clear\"><\/div><\/div><\/div><div id=\"wpforms-22767-field_2-container\" class=\"wpforms-field wpforms-field-layout\" data-field-type=\"layout\" data-field-id=\"2\"><div class=\"wpforms-field-layout-rows wpforms-field-large\"><div class=\"wpforms-layout-row\"><div class=\"wpforms-layout-column wpforms-layout-column-50\"><div id=\"wpforms-22767-field_3-container\" class=\"wpforms-field wpforms-field-email\" data-field-type=\"email\" data-field-id=\"3\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-22767-field_3\" aria-hidden=\"false\">Email <span class=\"wpforms-required-label\" aria-hidden=\"true\">*<\/span><\/label><input type=\"email\" id=\"wpforms-22767-field_3\" class=\"wpforms-field-medium wpforms-field-required\" name=\"wpforms[fields][3]\" placeholder=\"example@example.com\" spellcheck=\"false\" aria-errormessage=\"wpforms-22767-field_3-error\" required><\/div><\/div><div class=\"wpforms-layout-column wpforms-layout-column-50\"><div id=\"wpforms-22767-field_4-container\" class=\"wpforms-field wpforms-field-name\" data-field-type=\"name\" data-field-id=\"4\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-22767-field_4\" aria-hidden=\"false\">Name <span class=\"wpforms-required-label\" aria-hidden=\"true\">*<\/span><\/label><input type=\"text\" id=\"wpforms-22767-field_4\" class=\"wpforms-field-medium wpforms-field-required\" name=\"wpforms[fields][4]\" placeholder=\"John Doe\" aria-errormessage=\"wpforms-22767-field_4-error\" required><\/div><\/div><\/div><\/div><\/div><script>\n\t\t\t\t( function() {\n\t\t\t\t\tconst style = document.createElement( 'style' );\n\t\t\t\t\tstyle.appendChild( document.createTextNode( '#wpforms-22767-field_5-container { position: absolute !important; 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2026\/08\/30 Korea Downtown Hotel Investment Heats Up Again: Downtown Seoul hotels, once the top candidates for conversion into offices or residential use during the COVID-19 pandemic, are re-emerging as a core target for institutional investors. Against a backdrop of recovering inbound tourism demand and limited new supply, a growing number of players are [&hellip;]<\/p>\n","protected":false},"featured_media":26272,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}}},"tags":[127,130,88,128],"class_list":["post-26378","article","type-article","status-publish","has-post-thumbnail","hentry","tag-global-en","tag-lobin","tag-lodging-market-en","tag-newsletter-en"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"2026\/08\/17 - 2026\/08\/30 Korea Downtown Hotel Investment Heats Up Again: Downtown Seoul hotels, once the top candidates for conversion into offices or residential use during the COVID-19 pandemic, are re-emerging as a core target for institutional investors. 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