CapitaLand Investment acquires Hong Kong hotel for student housing conversion
Type: Acquisition · Technology: Hospitality · Country: Hong Kong · Value: $293.2M · Announced: 2026-09-15
CapitaLand Investment acquired the Ibis Hong Kong Central and Sheung Wan Hotel for HK$2.3 billion ($293.2 million) from Butterfly Hospitality Group. The 34-story property at 28 Des Voeux Road West in Sheung Wan will be converted into student housing operating under Adoor, an Ascott brand focused on long-stay apartments for urban professionals and students. The hotel serves as a seed asset for CapitaLand's expansion of its Ascott living-sector platform in Hong Kong. The transaction was reported by Mingtiandi citing market sources.
Counterparties
- CapitaLand Investment (Buyer)
- Butterfly Hospitality Group (Seller)
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