AP Hospitality Bulletin Asia Pacific - May 2026

Research that matter.

We published the 13^th Hotel Operator Guide Asia Pacific!

• In the 13^th Edition, we have captured more than 1.6 million existing room supply and more than 80,000 pipeline supply. Our analysis covers 38 operators across 37 countries and regions in Asia Pacific.
• We will post more details from our research in due course - here's a sample in Net Room Growth!

Transactions that matter.

Seonyudo Union Hotel, Seoul, Korea

Goldman Sachs acquired the 96-key Seonyudo Union Hotel for KRW53 billion (US$35.9 million) or KRW564 million (US$374,000) per key. This marks the second hotel acquisition for Goldman Sachs in Seoul following their acquisition of the 270-key Mercure Ambassador Seoul Hongdae in 2025 for KRW262 billion (US$174 million). According to Goldman Sachs, the property will undergo an expansion from a 96 keys to 146 keys and be rebranded to Hilton’s Tapestry Collection, a soft brand mainly for upscale boutique hotels featuring distinct design and vibrant personality.

Maison Glad Jeju, Korea

Paradise Co., Ltd., a South Korean casino operator, acquired the 513-key Maison Glad Jeju, a hotel located in the Paradise Casino Jeju Grand, for US$165.6 million or US$323,000 per key. The acquisition of the hotel from Paradise group could further create operational synergies between the accommodation and casino operations. This transaction is Paradise group’s second hotel acquisition in 2026 following the acquisition of the 501-key Grand Hyatt Incheon West Wing for US$145.2 million in January 2026.

R&F Properties

Following a series of auction property sales from R&F properties due to their distress starting in 2021, the group sold three more properties via auction following the 305-key Wuhan Wanda Westin Hotel sale for RMB376 million (US$54.8 million) in April 2026.

• Qingdao Wanda Le Meridien, the 349-key property was auctioned off at RMB276 million (US$40.4 million) or RMB791,000 (US$116,000), which was reportedly a 45% discount from the original appraisal price of RMB493 million (US$72.7 million).
• The 291-key Urumuqi Wanda Vista Hotel was auctioned off at RMB337 million (US$ 49 million) or RMB115 million (US$168,000) per key. According to AP research, the property was originally valued at RMB603 million (US$ 89 million), it thus also sold at around a discount of 45%.
• ‍Kunming Wanda Vista Hotel, the 302-key property was acquired at the price of US$46.5 million or US$154,000 per key.