AP Hospitality Bulletin Asia Pacific - August 2026

Deal watch.

M’s Hotel, GCP Hospitality, IHG Hotels & Resorts Portfolio Deal - Kyoto, Japan

IHG Hotels & Resorts has signed a 14-hotel portfolio agreement with GCP Hospitality, the hospitality arm of Hong Kong-based Gaw Capital Group. GCP Hospitality will be leading the management team across all 14 properties, covering a total of 1,063 keys across Kyoto. The deal includes the conversion of 14 M’s Hotels in Kyoto into 12 Garner hotels, 1 Holiday Inn Express and 1 unbranded property with phased openings over the next 12 months.

M’s Hotel is a Kyoto-based hotel group that was established in 2014. The brand was founded by the Murata family who owns Archi M’s, a Kyoto-based real estate design and development firm founded in 1962. The hotel brand only operates in Kyoto and all are limited-service hotels emphasizing local character, guest convenience, and comfort. Currently, there are 15 properties and over 1,000 rooms under the M’s Hotel brand. The family will retain ownership of all 15 properties.

Garner Hotel, IHG’s midscale conversion brand launched in August 2023, prioritizes comfortable, affordable, and convenient stays. Garner Hotel has since become IHG’s fastest growing brand globally, reaching 100 properties in early 2026. The M's Hotel portfolio marks one of Japan’s largest hotel conversion deals recently, further establishing IHG’s mainstream presence in Kyoto.

Transactions that matter.

Randor Hotel Kyoto Suites

Mitsui Bussan & IDERA Partners Co., Ltd., Japan-based asset management company MIRAI Corporation, is acquiring the 60-key Randor Hotel Kyoto Suites from AB Capital Investment Ltd., a private equity real estate investment manager with a focus on Japan hospitality assets. The sale price for the property is JPY3.55 billion (US$22.3 million) or JPY59.17million (US$371,000) per key. The property takes up around 1,884 m² in Kyoto’s Minami Ward and offers around 3,730 m² of GFA across six storeys.

It is reported that the property is discounted by 30% from the last appraisal value of JPY4.91 billion as of 31 July 2026. The appraisal also forecast the property to generate JPY188 million in net operating income (NOI), which equates to a 5.2% NOI yield or 4.6% after depreciation.

Coliwoo Midtown, Singapore

The 212-key Coliwoo Midtown was reopened in March after a major refurbishment. After four months of operation of the newly reopened property, CapitaLand Ascott Trust announced and agreed to acquire the property from Coliwoo (TK) Ltd., a Singapore-based company that manages co-living spaces/service apartments/hotels and is an indirect subsidiary of LHN group, for SG$134 million (US$103.5 million) or approximately SG$632,000 (US$488,000) per key. The full transaction is expected to be completed in 2026 Q4. This transaction will move the living asset ratio of CapitaLand Ascott Trust’s portfolio from 19.5% closer to their medium-term target allocation of 25% to 30%.

In 2023, originally known as the GSM Building, Coliwoo (TK) Ltd. acquired the property and converted it into a co-living development. Upon completion of the acquisition in Q4 2026, Coliwoo will lease back the property under a 10-year triple-net lease, with an option to extend for a further 10 years. This transaction is part of Coliwoo’s sale-and-leaseback strategy, which allows them to recycle capital for new acquisitions while still in control of the daily operations of the properties.

Staybridge Suites Bangkok Sukhumvit, Thailand

Sino-Pacific Trading Thailand Co., Ltd., Thailand-based family business operated by the Savetsomphob family and one of Thailand’s largest importers of confectionery and grocery products, acquired the 411-key Staybridge Suites Sukhumvit from Origin Hotel PLC, a Thai investment firm that focuses on real estate development, for an undisclosed price.

Origin Hotel's strategy follows a develop–operate–exit–reinvest model usually with a short holding period to create stabilize the property and maximize capital gains. This transaction aligns with their strategy where the property was only opened in 2023 and sold three years after.