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Novotel Sale Largest Asian Hotel Transaction Since GFC

Category: Hotels, Posted:03 Apr 2012 | 17:01 pm

Jones Lang LaSalle Hotels Singapore have announced the sale of the Novotel Nathan Road Kowloon Hong Kong, on behalf of its owner LaSalle Asia Opportunity Fund II, to Hong Kong based Gaw Capital Partners and CSI Properties.
The hotel transaction was for a total of HKD 2.368b (USD 305m), representing the largest single hotel sale in Hong Kong in over 10 years and in the wider Asian region since the Global Economic Downturn.
Since undergoing a complete refurbishment and rebranding in 2008, 389 room experiencing occupancies in excess of 95% and became one of the most popular hotels in Hong Kong.

LaSalle Investment Management are well known in Phuket as the entity behind the redevelopment of the Karon Villa into the Crowne Plaza and ultimately sold to become the Moevenpick Resort and Spa.

Other News

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Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]
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Condo Hotels and TPO’s Hitting Bangkok

Category: Hotels, Posted:20 Sep 2020 | 08:47 am Bangkok’s hospitality market is set rapid growth in the emergence of condo hotels and third party management operators (TPO’s). The trend is best seen with the recent launch of The Wyndham Queen Convention Centre Hotel and Residences in Bangkok operated by Kew Green Management Company Thailand. Kew Green has seven properties in the pipeline in […]
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The Hotel Business Plan – Why It Must Die (and soon)

Category: Opinion, Posted:18 Sep 2020 | 17:26 pm As I madly type away on the keyboard of my MacBook Pro, thousands of dumbstruck hoteliers across the world are slaving away in a blurring succession of days and nights in the mindless pursuit of completing an ignominious document known as The Hotel Business Plan. It’s Friday and I’m over-caffeinated, so hang on tight. Wait, […]