Bangkok's Big Deal
Bangkok-based Singha Estate Public Co. Ltd. has acquired six branded hotels from Outrigger Hotels and Resorts for $310 million. The six properties, with a total of 859 rooms, include two resorts in Thailand, two in Fiji, and others in Mauritius and Maldives. Outrigger, which is based in Hawaii and is owned and operated by KSL Capital Partners LLC, will continue to manage the six properties. The acquisition will increase Singha Estate's hospitality business portfolio to 4,644 rooms by the end of this year, including 10 properties in global tourist destinations and 29 properties in the United Kingdom.
Retailers Expand in Hong Kong
Foreign retailers were most likely headed to Hong Kong in 2017 to open new stores -- 86 retailers made their debut there last year.
Number of Retailers Opening
Source: "11th Annual How Global Is the Business of Retail?," CBRE
RE Prices Rise Fastest Down Under
Sydney boasted the fastest-growing commercial real estate prices in the world's leading markets in the first quarter of 2018, according to Real Capital Analytics; German cities had the second-highest price climb. According to RCA, the composite rate for the 18 cities it surveyed was 8.4 percent.
Source: RCA Insights, May 2018
Global Markets to Watch
With more than 294,000 college students studying in London, demand is increasing for purpose-built student accommodations in the city. While there are currently 80,000 PBSA beds in London (57 percent provided by the private sector), Cushman and Wakefield research shows that the current demand pool-to-bed ratio is 2.4 students to 1 bed. The London Plan -- the city's long-term strategic plan -- predicts a need for 20,000 to 31,000 additional student beds by 2025.
Source: Cushman and Wakefield Capital Watch, Issue 1, 2018