HVS Asia Pacific Hospitality Newsletter - Week Ending 23 January 2026

MIRARTH REIT to Acquire Tosei Hotel & Seminar Makuhari for JPY4.725 Billion, Japan

Japan-based MIRARTH Real Estate Investment Corporation (“MIRARTH REIT”) has announced plans for the acquisition of the Tosei Hotel & Seminar Makuhari in Chiba Prefecture, Japan, from Japan-based Tosei Corporation for JPY4.725 billion, or approximately JPY34.5 million per key. The 137-key hotel, built in 1992, spans approximately 8,769 square metres (“sqm”) across two buildings. The property will continue to be operated by Tosei Hotel Management Co. Ltd., a wholly owned subsidiary of the seller. Onsite facilities include a restaurant & café, a shop, laundromats, public bath, and hot tub. Notably, the hotel offers extensive MICE infrastructure, comprising 12 event spaces. Strategically located in the Makuhari area of Narashino City, one of Japan’s key MICE hubs, the property is approximately a 10-minute drive from the Makuhari Messe convention centre. It also benefits from strong transport connectivity, situated within a five-minute walk of the Shin-Narashino Station on JR’s Keiyo Line.

M1 Hotel North Point sold for HKD183 Million, Hong Kong

The M1 Hotel North Point was sold to an undisclosed buyer for HKD183 million, equating to approximately HKD2 million per key for the 92-key property. Located a five-minute walk from North Point MTR Station, the property has a gross floor area of approximately 2,809 square metres and is just one stop from the One Island East commercial area. The seller was identified as the Lo Family, who acquired the property for HKD305 million in 2014, representing a decrease in value of approximately 40%. The new owner plans to convert the hotel into student accommodation.

Tokaido REIT Enters Hotel Sector with Acquisition of Koko Hotel Shizuoka for JPY2.08 Billion, Japan

Japan-based Tokaido REIT Inc. (“Tokaido REIT”) is set to make its first hotel acquisition with the purchase of the 186-key Koko Hotel Shizuoka in Shizuoka, Japan, from Japan-based Yoshicon Co. Ltd. (“Yoshicon”) for JPY2.08 billion, reflecting approximately JPY11.2 million per key. The hotel offers a range of amenities including a restaurant, public bath, lounge, a game corner, and meeting facilities. Yoshicon acquired the asset in 2018 and subsequently undertook renovations and rebranded the property, which reopened under the Koko Hotel brand in 2023. The property is strategically located approximately a 15-minute walk from Shizuoka Station, which is served by both the Tokaido Main Line and the Tokaido Shinkansen. This connectivity provides convenient access to major cities such as Tokyo and Nagoya, as well as nearby destinations including local shopping areas like Parche and tourist attractions such as Mount Fuji.

Felix Capital Acquires Mercure Rockhampton in Queensland, Australia

Felix Capital Pty Ltd (“Felix Capital”), an Australia-based property development firm, has acquired the 74-key Mercure Rockhampton in Queensland, Australia, from Australia-based hotel investment and management firm Fifty Group for an undisclosed sum. The hotel recently underwent a AUD4 million refurbishment covering guestrooms, bathrooms, public areas, and the building exterior. Located on a 4,657 square metres ("sqm") freehold site along Victoria Parade by the Fitzroy River, the property includes a swimming pool, fitness centre, restaurant, parking, and approximately 443sqm of meeting and event space. A detached two-bedroom manager’s residence is also situated on-site. Additionally, the adjoining 1,447 sqm land parcel, currently connected to the hotel via the car park, offers potential for future development. The hotel will continue to operate under the Mercure brand by France-based Accor SA (“Accor”), with Accor as the franchisor and the Australia-based La Vie Hotels & Resorts as the appointed operator.

Koramco REIT Enters Hotel Development with a 91-Key Seoul Project, South Korea

South Korea-based Koramco Life Infrastructure REIT (“Koramco REIT”) will undertake its first hotel development project, involving the redevelopment of a former petrol station site in Jae-dong, Jongno-gu, Seoul. Koramco REIT will demolish the existing Jaedong petrol station located adjacent to Anguk Station, a prime central Seoul location with direct views towards Gyeongbokgung Palace, Deoksugung Palace and Unhyeon Palace. The project will comprise a 91-key hotel with one basement level and 14 storeys above ground, providing a total gross floor area of approximately 3,642 square metres. Upon completion, targeted for 2nd quarter of 2027, the hotel will be operated under a 10-year responsible lease structure in collaboration with South-Korea based MGRV Inc., a rental housing provider, applying a hybrid operating model combining short-term accommodation and long-term residential stays.