,Taiwan

Taiwan’s hotel investments plummet 72% to a measly US$265m in Q3

But this is only due to the major sale of Sunworld Dynasty in Q3 2020.

Taiwan is the third most active hotel investment market in Q3 2021, just behind Japan and South Korea. There were six local transactions amounting to US$265 million, a decrease of 72% yoy. 

According to Savills, since the US$900 million Sunworld hotel transaction took place in the same period last year, this quarter’s performance is considered strong. 

Here’s more from Savills:

In July, Wing Shuo Investment acquired the 270-key Holiday Garden Hotel in Kaohsiung for TWD2.7 billion (approximately US$96 million, US$357,000 per key). Located in New Taipei City, the 250-key Taipei Fushin Hotel was sold to Tonglit Logistics for TWD1.8 billion (approximately US$66 million, US$264,000 per key). In order to help promote and encourage local tourism, Taiwan has introduced several schemes including the Voucher Lucky Draw and Quintuple Stimulus Vouchers. 

In Hong Kong, Butterfly on Prat was acquired by the US-based real estate manager, Hines. As one of the most significant cross-border transactions in the region this quarter, the 158-key hotel located in Kowloon’s prime shopping district, was transacted for HK$980 million (approximately US$126 million, US$797,000 per key). 

The property has a gross floor area of 71,600 sq ft and includes space on the ground floor currently rented out to retail shops and restaurants. Hong Kong also announced in early September that it would resume some quarantine-free travel from Mainland China and Macau.

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