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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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Phuket’s Message To The World Welcome Back Home

Category: Tourism, Posted:24 Jun 2021 | 12:06 pm Tourism eyes around the world are focused on a resort island in Thailand next week for the reopening of international, vaccinated travel to the Phuket Sandbox. A key emerging storyline from the island’s frenzied runaway to 1st July has been the remarkable cross sector partnerships that has become a true catalyst of change. Phuket’s private […]
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Booze Is Back In Phuket Restaurants

Category: Tourism, Posted:23 Jun 2021 | 08:21 am Good news in the lead up to the Sandbox, the alcohol ban in island restaurants has been lifted. Alcohol can now be served in eateries until 23:00 daily. Pubs and entertainment venues are still closed for the moment. Special events up to 200 people are allowed. Expect more reforms on restrictions in the days leading […]
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More Than One Sandbox? WTF

Category: Tourism, Posted:22 Jun 2021 | 06:00 am Yes, nine days to go to the Phuket Sandbox and things are slowly becoming more clear. Baby steps and the island is getting ready despite waiting for the final set of rules and regulations. For now, it’s coming and we simply can’t wait. Meanwhile in Phuket: Catch the latest Thai Road Trip episode from Delivering […]