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JLL acting as the sole consultant to sell Strategic Hospitality Holdings, has concluded an acquisition of several hospitality properties with a value of US$106.1 million ($142.55 million). The sale includes three hotels properties located in Southeast Asia – Pullman Jakarta Central Park The Ibis Saigon South and Capri by Fraser Both are located within Ho Chi Minh City. The
“Investors are very confident about the foundations of Southeast Asia’s hotel sector. Selling this distinctive hotel portfolio not only demonstrates the revival of deal activity across Southeast Asia, but also helps to boost the steady revival of cash flows in hotels in the region.” states Julien Naouri, senior vice president, Investment Sales, Asia Pacific, JLL Hotels & Hospitality Group.
According to JLL according to JLL, the Pullman Jakarta Central Park and ibis Saigon South are being sold to benefit Accor Management under management of the Pullman and ibis brand names, respectively. The Capri by Fraser was transferred without vacant possession.
“Despite macroeconomic challenges this project completed in less than six months from debut,” says Nihat Ercan, Chief Executive Officer Asia Pacific, JLL Hotels & Hospitality Group.