AP Hospitality Bulletin Asia Pacific - August 2025

Transactions that Matter.

As people are coming back to the office after their summer breaks, deal-making is picking up pace again with activity across the region.

• Tang Shing Bor - the estate of the late Hong Kong 'shop king' and real estate tycoon continues selling down assets. In August, divestment of the 583-room Hotel Cozi Oasis and 199-room Hotel Ease have been announced. Overleveraged after the market turned, the inheritors continue to clean up the balance sheet. Willing buyers aim to convert properties to co-living and student housing to serve a booming education sector in the SAR. Angelo Gordon was the buyer of one of the properties, showing the interest among institutional buyers.
• CapitaLand Ascott Trust exited their 206-room Citadines property in Shinjuku after holding for almost 11 years. In that time, the yield compressed from a reported 4.4% to 3.2%, bagging Ascott around a 140% profit on the investment.
  
• Seoul - Marriott branded (and other) properties continue to change hands in the Korean capital. The Courtyard Namdaemun in its strategic location in the heart of Gangbuk attained a relatively modest price compared to other recent transactions in Seoul. Those of you who have been following our newsletter will know.

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