Weekly Hotel Industry Asia Pacific News Roundup from HVS

M&G Acquires 25.3% Stake in Conrad Seoul, South Korea for KRW49.8 Billion

M&G Real Estate (“M&G”), property investment arm of UK-based global investment manager, M&G, acting on behalf of a separately managed account, has acquired a 25.3% stake in 434-key Conrad Seoul in Seoul, South Korea, for KRW49.8 billion. Situated in Yeouido, Seoul’s financial business district, the property offers a spa, fitness club, an indoor swimming pool, an executive lounge, five food and beverage venues, and eighteen meetings room spanning a total of 2,545 square metres. Following the acquisition, M&G plans to refine room configurations and redevelop event spaces to maximise revenue potential. Conrad Seoul was previously acquired by ARA Korea, a subsidiary of Singapore-based ARA Asset Management Limited for approximately KRW400 billion in June 2024. With this latest transaction, M&G’s assets under management in South Korea have risen to approximately USD3 billion as of February 2025.

HVHR Acquires Crown Regency Serviced Suites in Kuala Lumpur, Malaysia

Malaysia-based Holiday Villa Hotels & Resorts Sdn Bhd (“HVHR”) has acquired 82% of the strata units at the 90-key Crown Regency Serviced Suites in Kuala Lumpur, Malaysia, from a single vendor for an undisclosed sum. The remaining units are individually owned. The 31-storey freehold property features a swimming pool, hair salon, fitness centre, business centre, self-service laundrette, and three meeting rooms. It is conveniently located within a five-minute walk of Monorail Bukit Nanas Station and LRT KLCC Station. Following the acquisition, the property will be rebranded as Holiday Villa Hotel and Residence Kuala Lumpur and is set to open later this year.

Mapletree Sold Oakwood Suites Yokohama in Kanagawa, Japan

​Singapore-based Mapletree Investments Pte Ltd (“Mapletree”) has sold its serviced apartment asset, Oakwood Suites Yokohama, for an undisclosed sum. This 175-unit property, which opened in November 2020, occupies the 46th to 51st floors of The Tower Kitanaka, Yokohama’s tallest and largest residential complex. Located above Bashamichi Station on the Minato-Mirai Subway line, Oakwood Suites Yokohama offers easy access to retail outlets, dining venues, and key attractions such as Yamashita Park and Chinatown. The property features a residents’ lounge, a 24-hour fitness center, and a restaurant. 

AB Capital Partners with Kenedix To Acquire Hotel Urakusatsu Tou in Gunma, Japan

​Hong Kong-based fund manager, AB Capital Investment Limited (“AB Capital”), has partnered with Kenedix Inc. (“Kenedix”), the asset management unit of Japan-based Sumitomo Mitsui Finance and Leasing Co., Ltd., to acquire Hotel Urakusatsu Tou for an undisclosed amount. This acquisition marks AB Capital’s ninth hotel purchase in Japan, following the acquisition of the 219-key Ai Hotel Keikyu Kamata-ekimae in 2024. The 56-key property underwent extensive renovations in 2022. Located approximately two hours by train from Tokyo, the hotel is situated in Kusatsu Onsen, one of Japan’s premier hot spring destinations. The hotel features both indoor and outdoor private onsen baths, including a rooftop bath with panoramic views of the surrounding mountains and sky, four food and beverage outlets, and a resident lounge.

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