Thursday, September 28, 2023

Conrad Seoul Back on the Market for $750 Million

  • The 434-room Conrad Seoul, a Hilton-branded hotel in South Korea, is back on the market for $750 million.
  • Hyatt Hotels Corporation has inaugurated the Hyatt Place Kuala Lumpur, Bukit Jalil, Malaysia’s first Hyatt Place and the first international hotel in the Bukit Jalil area.
  • Iconic Penang Sdn Bhd is developing the Iconic Marjorie Hotel, a 298-room five-star Marriott property in Penang, Malaysia.

STR reported China hotel data for the week ended September 23rd. Hotel RevPAR was up 46.7% year over year, up against a 5.1% comp in 2022. Compared with 2019, RevPAR for the week in China was up 14%. Investment specialists at the Australia-New Zealand edition of the Hotel Investment Conference Asia Pacific said market conditions are stressing hotel […]