Hilton Opens 100th Garden Inn in China
Skift Take
Hilton announced the official opening of its one hundredth Hilton Garden Inn property in Greater China, the Hilton Garden Inn Beihai Jiafu. The hotel is located just six kilometers from Beihai Fucheng Airport and features 199 rooms and suites, an all-day dining restaurant, 24-hour retail store, fitness center, and a self-service laundry room. Hilton opened the first property in the brand in Greater China, the Hilton Garden Inn in Shenzhen, in 2014. Hilton said the Hilton Garden Inn brand will further consolidate its position in key markets in China in 2025, including Shanghai, Tianjin, Chengdu, and Suzhou, and also debut in tourist destinations such as Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.
Marriott International, in partnership with Delonix Group, unveiled eight agreements for new hotels, including three initial agreements from May 2024 and five additional hotels recently signed. The ongoing collaboration between the two firms started in January 2024, propelling the expansion of the Tribute Portfolio brand across Mainland China. The new hotel signings under the franchise agreement with Delonix include the Grand House in Shaoxing; Grand New Century Hotel in Wenzhou, now part of the Tribute Portfolio; the Wonderland Resort in Shangrao Sanqingshan, also joining the Tribute Portfolio; the Grand House in Jiangyin, under the Tribute Portfolio; and the Grand New Century Resort in Changxing, another Tribute Portfolio addition. The properties are scheduled to welcome guests between 2025 and 2026.
OYO’s valuation is now at US$4.6 billion after Nuvama Wealth and Investment acquired shares worth Rs 100 crore in parent Oravel Stays at Rs 53 per share through a secondary transaction. Nuvama acquired the shares through InCred Wealth and Huazhu Hotels. Last month, CEO Ritesh Agarwal said he was buying shares at Rs 44 per share. Even with the increase in the last month, it is still less than 50% of the $10 billion valuation OYO carried at its peak.
The Ascott Limited, the lodging business unit from CapitaLand Investment, announced the signing of Citadines Faridabad in the key hub of the National Capital Region of Delhi in India. The signing represents the first strategic partnership between Ascott and BBRS Hospitality Wellness LLP and will expand Ascott’s portfolio in India to 19 properties, both operating and in the pipeline. Citadines Faridabad is slated to open 4Q25 in Sector 21C, featuring a suite of guest rooms, alongside food and beverage options as well as meeting and banquet facilities. Ascott currently operates a portfolio of seven properties with nearly 1,000 rooms across six major cities – Chennai, Bangalore, Hyderabad, Pune, Goa, and Gurugram. In the next five years, Ascott plans to open 12 more properties with a capacity of 4,000 rooms.
The Ascott Limited Thailand announced the grand opening of Somerset Sukhumvit 71 Bangkok, a hotel and serviced apartment property near Ekkamai. The property includes 141 guest rooms and apartments, from deluxe rooms to expansive one- and two-bedroom units. There is an outdoor rooftop swimming pool, gym, and the Sol & Luna Rooftop Restaurant.
Minor Hotels’ Anantara Lawana Koh Samui Resort on Chaweng Beach unveiled a fully enhanced resort following 10 weeks of extensive renovations. The reopening marks a complete refurbishment of its public areas, as well as new features and experiences including a fully renovated beachfront, redesign of landscaped public spaces, and new and elevated dining experiences.
Destination Hospitality introduced Radisson RED Phuket Patong Beach, the brand’s first resort in Asia. The hotel is nestled in a prime location close to the Bangla Road and Andamana Phuket Water Park.
IHG Hotels & Resorts unveiled the Hotel Indigo Nagasaki Glover Street, the fifth Hotel Indigo in Japan and first in Kyushu. The hotel is the result of a conversion of a 19th-century redbrick landmark in Nagasaki. The hotel features 66 guestrooms. The on-site restaurant, Cathedreclat, has dramatic 10-meter-high ceilings and stained glass windows, housed in a former cathedral setting.
IHG also announced the opening of a new Holiday Inn Express property in India. The new hotel launched in Greater Noida Knowledge Park in Uttar Pradesh. The hotel is owned by SAMHI Hotels and comprises 133 rooms.
Blackstone-backed Ventive Hospitality Limited, formerly known as ICC Realty (India) Private Limited, has uploaded its RHP, meaning its IPO will open this coming Friday and close on December 24th. The IPO comprises a fresh issue of equity shares of face value of INR 1 each aggregating up to INR 1600 crores. The net proceeds will be used towards the repayment/prepayment, in part or full, of certain borrowings from the company. BRE Asia, an affiliate of Blackstone, became a 50% shareholder of the company in 2017. The portfolio comprises 11 operational hospitality assets in India and Maldives totaling 2,036 keys across the luxury, upper upscale, and upscale segments as of September 30, 2024.
Blackstone Inc. also announced that its Real Estate funds have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho from affiliates of Seibu Holdings for $2.6 billion. This marks the largest real estate investment by a foreign investor in Japan and is Blackstone’s largest investment in the country to date. The mixed-use asset is located in central Tokyo and includes high-rise towers with office spaces, residential units, a luxury hotel, and various retail and service outlets.
DL, KT, and Lotte are selling their hotel assets amid a surge in foreign tourists in South Korea. While this is fueled by the global rise of K-content, one has to wonder how the recent political instability may impact this. The companies are trying to liquidate real estate assets to strengthen their financial stability while institutional and foreign investors are seeking opportunities in the growth potential of South Korea’s hotel sector, according to Chosun.com. DL Group is said to be selling Glad Yeouido and Glad Coex hotels in Seoul and Maison Glad Jeju to streamline assets and restructure operations, with the sale price said to be around 600 billion to 700 billion won (US$420 million to US$490 million). Foreign investors such as GIC, KKR, and Blackstone are said to be interested. KT Group selected an advisory firm to facilitate large-scale real estate liquidation to raise funds for new growth areas like artificial intelligence. Lotte Group is facing liquidity concerns and announced plans last month to sell some of its hotels to raise about 600 billion won.