Hotel Transactions Desk

Novotel and ibis Darling Harbour close at A$390 million

Wentworth Capital, Sun Hung Kai & Co, and Mulpha Australia settled the 781-key pair — 525 rooms at the Novotel, 256 at the ibis — with Accor remaining as manager. CBRE Hotels called it Sydney’s largest trading-hotel deal in four years. Cash-flow quality and a redevelopment overlay, not a distressed cap-rate story.

Source: CBRE Hotels via The Hotel Conversation

A$390M

781 keys · Accor managed

CBRE: APAC hotel investment hits $8 billion in the first half

Up 21 percent year over year, led by Japan, mainland China, and Korea. Mainland China more than doubled after C-REIT eligibility widened to four-star-and-above hotels. ADRs sit at or near cycle highs in most markets; new supply is running near 1 percent. The number that should worry a U.S. seller: capital is finding hotels outside the dollar bloc.

Source: CBRE, 2026 Asia Pacific Hotels & Hospitality Performance & Outlook

$8B

H1 volume · +21% YoY

Aermont takes Sun Communities’ U.K. holiday parks for $1 billion

Park Holidays — more than 50 sites — moves from a U.S. manufactured-housing REIT to European private capital. Sun exits a non-core geography. This is the dollar-versus-pound story in one line: American sponsors are still selling U.K. hospitality to local dry powder when the asset is operationally heavy.

Source: Macfarlanes / ICLG

$1B

Park Holidays · 50+ sites

JLL Hotels: $835 million Marco Island sale, $600 million Diplomat refi

Back-to-back announcements from JLL’s Hotels & Hospitality group: an $835 million sale and $690 million financing on JW Marriott Marco Island Beach Resort, then a $600 million refinancing on The Diplomat Beach Resort. Kevin Davis later told CoStar News that cheaper floating-rate debt — not a sudden burst of optimism — is what reopened the U.S. bid-ask.

Source: JLL via PR Newswire; Davis comments via CoStar News

$835M

Sale · $690M debt on Marco

Pebblebrook sells Chamberlain West Hollywood for $43.5 million

115 keys. 14.5× EBITDA. 5.9 percent NOI cap rate on a 4 percent reserve. Part of the consideration was Pebblebrook preferred stock the buyer already held. Since 2021 the trust has sold more than $1 billion of hotels and is using private-market prices to close a public NAV discount. The lesson for an independent owner: the public names will keep feeding the bid on smaller urban assets if the multiple still works.

Source: Pebblebrook Hotel Trust, 28 May 2026 release

$43.5M

115 keys · 5.9% NOI cap

JLL shops a $90 million non-performing luxury hotel note

First-lien leasehold on a 285-key, 16-story luxury hotel. Payment default September 2025, maturity default December 2025. Coupon SOFR + 6.71 percent, interest-only. JLL is selling the loan, not listing the building on a consumer site. Path-to-ownership paper at a basis below replacement cost is how a lot of 2026 “hotel deals” will actually trade.

Source: JLL Hotels & Hospitality offering memorandum summary, invest.jll.com

$90M UPB

285 keys · NPL

JLL: $88 billion in U.S. hotel loans mature through 2027

Lenders originated about $64 billion of hotel debt in the United States in 2025. Hotels recovered to 8 percent of commercial real-estate transaction volume. The maturity wall — not a brochure about “sentiment” — is the cleanest reason to keep a transactions desk open twice a week.

Source: JLL, 2026 Global Hotel Investment Outlook

$88B

Maturities through 2027