Asia Pacific Hospitality Newsletter - Week Ending 12 September 2025

LHN Group’s Co-Living Business Coliwoo Secures Approval for Listing on SGX, Singapore

Coliwoo, the co-living division of Singapore-based LHN Limited (“LHN”), has received conditional eligibility for listing on the Singapore Exchange (“SGX”) Mainboard. The approval, granted on 9 September 2025, is valid for three months, during which time LHN is required to meet all SGX listing conditions, including pre-quotation disclosures and the submission of necessary documentation. As of June 2025, Coliwoo’s portfolio comprises approximately 2,960 rooms, with an occupancy rate of around 97.2%. This move comes amid several recent developments under LHN’s co-living strategy, including the award of a tender for a state-owned site at Jalan Loyang Besar for a 382-key Coliwoo-branded resort chalet, the opening of the 24-key Coliwoo Hotel Kampong Glam in May 2025, and the divestment of its former co-living hotel in Geylang. The SGX listing would allow Coliwoo to raise capital independently, supporting its plans for expansion and strengthening its position in the co-living sector.

 Browns Investments Sells Barceló Whale Lagoon Maldives for USD57.5 Million

Browns Investments PLC (“Browns Investments”), a subsidiary of Sri-Lanka-based investment holding company, LOLC Holdings PLC, has divested the 100-key Barceló Whale Lagoon Maldives to ASB Hotel Properties Maldives Private Limited, a subsidiary of UAE-based Albwardy Investment, for USD57.5 million. This translates to approximately USD575k per key. Located in the South Ari Atoll, the resort offers four restaurants and bars, two swimming pools, a fitness centre, a luxury spa with a sauna and Turkish bath, a recreation centre, and a dive centre. Managed by Spain-based Barceló Gestión Hotelera, S.L. ("Barceló"), the group also opened the Barceló Nasandhura Male in 2025, a 252-key hotel with more than 1,000 square metres (“sqm”) meeting facilities. Following this acquisition, Albwardy Investment’s hotel portfolio now comprises approximately 1,400 rooms.

Mixed-Use Apartment Hotel and Retail Complex in Suburban Adelaide Sold for AUD18.5 Million in Australia

Quest Apartments Mawson Lakes, a mixed-use apartment hotel and retail complex located in the northern Adelaide suburb of Mawson Lakes, has been sold to a private investor for AUD18.5 million. Built in 2009, the property occupies a 2,467 sqm site and comprises approximately 6,069 sqm of net lettable area across four storeys. The asset is anchored by the 66-key apartment hotel operated under the Quest franchise network, which contributes 85% of the total income. The hotel caters predominantly to extended-stay guests, with 95% of its occupancy made up of long-term stays. A recently renewed 10-year lease extends Quest’s lease until September 2034. Supporting the hotel are three commercial and four retail tenancies on the ground floor, including a Domino’s Pizza outlet. Together, these tenants contribute to a fully occupied asset with a weighted average lease expiry (“WALE”) of 7.95 years by income. Located along Main Street, the property is in close proximity to the University of South Australia’s Mawson Lakes campus and is well-served by nearby bus links to Mawson Lakes train station, which provides direct rail access to Adelaide’s city centre. The sale reflects an approximate yield of 8 - 8.5% for the seller.

SWG Acquires Sunset Park Resort & Spa in Pattaya, Thailand

Thailand-based Siam Wellness Group Public Co., Ltd. (“SWG”) has acquired the 53-key Sunset Park Resort & Spa in Pattaya, Thailand, from an undisclosed seller for an undisclosed amount. The resort occupies 38.3 rai (approximately 61,280 square metres) with 200 metres of beachfront. Located at Na Jomtien, the resort facilities include two restaurants and bars, two swimming pools with connecting Jacuzzis, a fitness centre, a spa and health club, meeting rooms, a children’s playground and a one-hole golf putting. Situated 15 minutes by car from Pattaya City and 20 minutes from U-Tapao Airport, the resort is also within a 5 to 10 minutes drive of nearby attractions such as the Cartoon Network Amazone water park, Wat Yansangwararam Temple and the Pattaya Floating Market.

Raffles Maldives Meradhoo will be Rebranded as The Halcyon Private Isles Maldives, Autograph Collection

Singapore-based real estate investment trust, CDL Hospitality Trusts, the owner of Raffles Maldives Meradhoo has announced that the property will be rebranded as The Halcyon Private Isles Maldives, Autograph Collection under a franchise agreement with US-based Marriott International, effective from 1 November 2025. This transition marks the end of its affiliation with Raffles Hotels & Resorts, with operations continuing uninterrupted during and post-transition. Set across two private islands in the Maldives, the resort features 38 spacious villas, starting from around 220 sqm. Guests can enjoy access to an extensive range of premium amenities including five restaurants and bars, two swimming pools, a fitness centre, a luxury spa, a kids’ club, and a dive centre.