Issue 2577 - 19 November, 2020

    Second Japanese fund

    Investor Odyssey Capital Group has launched a second fund targeting hospitality assets in Japan. It is seeking buildings for boutique hotels, as well as ryokans and machiyas in prime locations, reports ReTalkAsia. Odyssey is looking for acquisitions in the USD5-50m range. It has already seen attractive returns from assets acquired over the last 18 months [...]

    Voco for Jeddah

    IHG has signed to take its Voco brand to Jeddah, Saudi Arabia. Partner Arif Group will develop a 145 room new build, for an early 2022 opening. The hotel will be one of the closest to the new Jeddah airport, and will feature extensive meeting space. IHG currently operates 95 hotels in the Middle East, [...]

    Korean home swap

    Authorities in South Korea aim to convert hotels into apartments, to address a housing shortage. The government has promised to deliver 114,000 homes over the next two years, reports Reuters. Attempts to address the issue to date have failed, leading to soaring prices. Hotels and offices will be acquired and converted, many to one-person households. [...]

    Dubai welcomes Moxy

    Marriott has signed to launch its Moxy brand in the Middle East. Partner Ingenious Holding will develop a 320 room hotel in Dubai, for a 2025 opening. The property in Downtown Dubai will include a rooftop bar, pool and bowling alley. There are more than 70 Moxy hotels open across the US, Europe and Asia [...]