APAC Hotel Construction Pipeline at End of Q4
Skift Take
- According to Lodging Econometrics’ Q4 Construction Pipeline Trend Report for the Asia Pacific region, excluding China, the region’s total construction pipeline stands at 1,903 projects/404,222 rooms, up 5% by projects and 2% by rooms YOY.
- South Korea’s government will remove its entry restrictions for short-term travelers from China.
- Singapore property tycoon Koh Wee Meng, via his entity JK Global Wealth, made an offer of 12 cents a share for the rest of developer Global Dragon.
South Korea’s government will remove its entry restrictions for short-term travelers from China. Associated Press said the South Korean officials believe the Covid situation in China is stabilizing. It will begin processing short-term visa applications again but will also maintain its testing requirements for now. All passengers from China, Hong Kong and Macau will need to continue submitting proof of negative tests taken within 48 hours of their arrival and test again once they are in South Korea.
Singapore property tycoon Koh Wee Meng, via his entity JK Global Wealth, made an offer of 12 cents a share for the rest of developer Global Dragon. Koh and related parties already control 81.98% of Global Dragon with Koh directly controlling 59.3%. The premium is 14.3% over the closing price the day before the offer was made and a 15.4% premium over the 1 month volume weighted average price. Of the projects Global Dragon has in the works is a 194-room hotel alo
