Furama Group purchases Skye Suites Sydney in Australia from Crown Group for an AUD68 Million.
Singapore’s Furama Hotels International (Furama Group) has purchased Skye Suites Sydney, and the adjacent Our Skittle Place retail area from Crown Group Holdings Pty Limited in Australia for AUD68million. The deal includes a 73-key property with six retail shops on the ground level, totalling 918 square meters. Skye Suites Sydney was opened in 2018 and is part of the 25-storey Strata Development, The Arc, by Crown Group. The development also includes 173 residential units. The mixed-use building features amenities like a rooftop lounge and courtyard, a gym, and an indoor swimming pool. Skye Suites Sydney has a minimum 45-square-metre room and is located in the Central Business District, just five minutes from Barangaroo waterfront. This acquisition is one of Furama Group’s largest serviced apartments transactions in Sydney, for the year 2025.
Best Louis Hamilton Hotel Gwangan branch sold at KRW12 billion in Busan, South Korea
The Best Louis Hamilton Hotel Gwangan Branch (50-key property with a view of Gwangalli Beach) was sold at KRW12billion. This is up from KRW11.8billion in 2021. It’s also approaching its KRW14.2billion sale price for 2019. The latest sales price is approximately KRW240m per key (84.5%) of the level in 2019. The buyer and the seller are not known. Perched on a corner boulevard, the hotel offers convenient access to Gwangalli Beach and seaside cafés. This transaction represents a renewed strength within the mid-tier to lower-tier segment of South Korea’s hotel industry. In April 2025, foreign arrivals to South Korea reached 104.4% of April 2019 volumes—a 16.7% year-on-year increase. Inbound traffic to Busan increased by 60.9% between 2024 and 2019, surpassing its peak of 2019 by about 9.0%. These trends highlight the demand for transit-oriented properties in Busan that are well located, attracting investors who seek yield.
Ayala expands its hospitality portfolio in the Philippines with the acquisition of New World Makati Hotel
Ayala Land Inc. (Ayala) of the Philippines has acquired the New World Makati Hotel for an unspecified sum from Hong Kong’s New World Development Company Limited. The acquisition strengthens Ayala Land Inc.’s hospitality offering in the Makati Central Business District. The hotel has 578 rooms and offers a variety of amenities including a full service spa, an outdoor pool, a fitness center, and many event spaces. The hotel is located in a strategic location, just a few steps away from Glorietta and Greenbelt malls. This property provides easy access to shopping, dining, entertainment, office towers, and the Makati Stock Exchange. The acquisition fits in with Ayala’s PHP28-billion expansion strategy, which aims to increase its hotel portfolio by 4,000 rooms to 7,500 by 2030. This effort will be complemented by the development of the Mandarin Oriental Makati with 276 keys, which is scheduled to open in the year 2026.
Belluna acquires two hot spring resorts in Tohoku Japan
Japan-based Belluna Co., Ltd. (“Belluna”) has acquired two hot spring resort properties from Japan-based Karakami Hotels & Resorts Co., Ltd. (“Karakami”) for an undisclosed sum. The 131-key Hotel Zuiho, and the 140 key Akiu Grand Hotel are located in Akiu onsen, a hot spring destination that is popular throughout the Tohoku area. The two properties, located about 30 minutes from JR Sendai Station by car, offer many leisure and wellness facilities. Hotel Zuiho offers two food and beverage outlets as well as a souvenir store, six outdoor baths, banquet rooms, an indoor swimming pools, a chapel, spa and salons, and entertainment facilities. Akiu Grand Hotel has two food and drink outlets, a gift shop, four different types of hot springs baths, banquet rooms, and various entertainment venues. Hotel Zuiho’s and Akiu Grand Hotel’s gross floor areas are respectively 36,284 and 17,647 square meters. Belluna continues to expand its regional hospitality business in Japan through the deal.
