United Urban Acquires the b ochanomizu for JPY2.78 Billion in Tokyo, Japan
Marubeni REIT Advisors Co., Ltd., the asset management company of Japan-based United Urban Investment Corporation, has acquired the b ochanomizu for JPY2.78 billion from Japan-based Tiger 2 GK. This translates to approximately JPY38.6 million per key. Located just a one-minute walk from both Awajicho Station on the Tokyo Metro Marunouchi Line and Ogawamachi Station on the Toei Shinjuku Line, the 72-key property features a breakfast restaurant, co-working lounge, and laundrette. The 9-storey hotel has a gross floor area of approximately 1,742 square metres and was last renovated in 2019. In 2007, the property was acquired and rebranded as ‘the b ochanomizu’ by Japan-based Ishin Hotels Group. It was then sold to Japan-based Japan Hotel REIT Investment Corporation in 2015 for JPY2.32 billion and disposed in 2018 for JPY2.5 billion.
Samdoo Corporation Acquires and Rebrands Former Quest South Brisbane for AUD26 Million in Australia
Australia-based Samdoo Corporation Pty. Ltd. (“Samdoo Corporation”) acquired the former Quest South Brisbane for AUD26 million. The transacted price equates to approximately AUD406,250 per key for the 64-key property. The property occupies 1,147 square metres of freehold land and features an outdoor pool, gym, and rooftop terrace. Located at 50 Water Street, the property sits opposite the Mater Hospital and is within walking distance of South Bank’s cultural precinct, Streets Beach, and Queen’s Wharf. Following months of renovations, the property has officially rebranded as Hotel Diana South Brisbane, with the key count reduced to 62. Samdoo Corporation, which also owns the 67-key Hotel Diana Woolloongabba, continues to strengthen its regional hospitality portfolio with this latest addition.
Minor Hotels Acquires Lake Crackenback Resort & Spa in Australia
Thailand-based Minor Hotels announced the acquisition of Lake Crackenback Resort & Spa for an undisclosed sum in New South Wales, Australia. The acquisition includes the resort’s letting rights and select leasehold assets, including the reception office and housekeeping building. Following the acquisition, the property will be rebranded as Oaks Lake Crackenback. Situated in the Thredbo Valley within Snowy Mountains, adjacent to Kosciuszko National Park, the 110-key property features outdoor dining, fireplaces, and scenic mountain or lake views. The property also includes event spaces with stunning backdrops for weddings, corporate functions, and private gatherings. It is understood from market sources that the property has also received development approval for another 16 rooms. When listed in 2023, the resort carried a price guide range of AUD4 million to AUD4.4 million. It recorded a net return of AUD1.258 million for the 12 months ending June 2023, followed by AUD1 million in the subsequent year.
THE 13 Hotel in Macau Changes Hands Amid Former Owner’s Insolvency
Macau’s hotel property THE 13 has been sold to a new owner for an undisclosed sum. Located at 1 Estrada de Seac Pai Van, the 199-key hotel spans a gross floor area of 87,792 square metres and offers facilities including two food and beverage outlets, a gym, and a spa centre. While the transaction details have not been officially disclosed, market sources indicate a purchase price of approximately HKD400 million – representing a decline of over 80% from its original valuation of HKD2.4 billion in 2024. Initially envisioned as an ultra-luxury hotel in Macau, the development was plagued by financial challenges. Its former parent company, Hong Kong-based South Shore Holdings Limited, experienced significant financial distress and was declared insolvent in October 2021. Its affiliate, The 13 Hotel Management Ltd, filed for bankruptcy in Macau in 2023, while an indirect wholly-owned subsidiary, New Concordia Hotel Limited, the firm that owns the rights to the project site, has been taken over by its creditor. After closure in 2020, the property reopened in 2024 after receiving a renewed five-star deluxe hotel licence from the Macau Government Tourism Office to the end of 2025.
One&Only Desaru Coast Resort to be Rebranded as Mandarin Oriental, Desaru Coast in Malaysia
Desaru Coast, a 4,000-acre integrated resort development in Malaysia, is set to welcome Hong Kong-based Mandarin Oriental Hotel Group Limited (“Mandarin Oriental”) as its newest operator. The 44-key One&Only Desaru Coast, formerly operated by UAE-based Kerzner International Limited under the One&Only brand, will be rebranded as Mandarin Oriental, Desaru Coast in January 2026. Spanning 128 acres, the resort holds architectural significance as the final completed project by the late Kerry Hill. The rebranded property will offer five food and beverage outlets, a spa, a fitness centre, a salon, sporting facilities, event spaces, and a kids’ club. In the longer term, Mandarin Oriental plans to introduce 40 branded residences, with owners receiving access to the hotel’s services. Desaru Coast is being developed by Desaru Development Holdings One Sdn Bhd, a subsidiary of Malaysia-based Destination Resorts & Hotels Sdn Bhd (“DRH”). It currently has four hotels totalling approximately 800 keys, which DRH aims to double key counts by 2027.
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