Owners of hotel properties in Asia are set to add to the flood of real estate-focused listings in Asian stock markets this year, as investors seek income and protection against inflation despite the market having stumbled in recent weeks, writes Paul J Davies.
Langham Hospitality aims to raise about HK$4bn ($515m) when a group of three Hong Kong hotels, which are being spun out of Chinese property group Great Eagle, prices its initial public offering in Hong Kong on Thursday.
New World Development, the property arm of the Cheng family, could raise double that when it lists its share of three of Hong Kong’s biggest hotels – the Grand Hyatt Hong Kong, Renaissance Harbour View Hotel and Hyatt Regency Hong Kong – this year.