3 hotels in Southeast Asia sell for $106m

Strategic Hospitality Holdings has sold a three-hotel portfolio for $106.1 million.

The portfolio consists of the Pullman Jakarta Central Park in West Jakarta, Indonesia; and the ibis Saigon South and Capri by Fraser, both in Ho Chi Minh City, Vietnam. The Pullman Jakarta Central Park and ibis Saigon South are sold with the benefit of Accor management under the Pullman and ibis brands, respectively. The Capri by Fraser was sold with vacant possession.

“Investors are extremely confident on the fundamentals of Southeast Asia’s hotel space,” said Julien Naouri, senior vice president, investment sales, Asia Pacific, JLL Hotels & Hospitality Group, which advised on the portfolio sale. “The sale of this unique hotel portfolio not only underscores the resurgence of deal activity in Southeast Asia, but also reinforces the ongoing recovery of cash flows of hotels in the region. We are delighted to have partnered with our client on this successful transaction and dem