<div>JBAM Acquires Mercure Ambassador Seoul Hongdae for KRW300 Billion in South KoreaJB Asset Management (“JBAM”), a subsidiary of South-Korea based JB Financial Group, has acquired 270-key Mercure Ambassador Seoul Hongdae from South Korea-based fund manager, Hyundai Asset Management, for KRW300 billion. Following the acquisition, Japan-based Sotetsu Hotels Management Co. Ltd will take over as the hotel’s operator. Mercure Ambassador Seoul Hongdae, located in the vibrant Hongdae area, features 24 floors and a total floor area of 17,058.52 square metres. The property includes a restaurant, bar, coin laundry and two meeting rooms and is just a two-minute walk from Hongik University subway station. Hillhouse Announced Offer to Buy Out Samty HoldingsHong Kong-based private equity firm, Hillhouse Investment Management Ltd (“Hillhouse”), announced a tender offer to buy out the common shares in Japan-based developer Samty Holdings Co., Ltd. (“Samty Holdings”) in a deal which values Samty Holdings at JPY169 billion with the objective of taking Samty Holdings private. The tender offer reflects a per share value of JPY3,300 each and represents a 14.1 percent premium to Samty Holdings’ highest ever share price. Samty Holdings’ largest shareholder Japan-based Daiwa Securities Group Inc. will continue to be a shareholder and support growth of Samty Holdings to maximize its corporate value together with Hillhouse. Samty Holdings boasts a strong portfolio of high-quality multi-family residential and hotel properties, with a total of 23 hotels amounting to 3,549 rooms.Prime Hotels Acquires Waipuna Hotel & Conference Centre in New ZealandNew Zealand-based Prime Hotels, a subsidiary of Primepropertygroup, have acquired the 148-key Waipuna Hotel & Conference Centre in Auckland for an undisclosed sum. The property features 17 conference rooms, a swimming pool, fitness centre, on-site restaurant and bar, 300 free parking spaces, and a 400-seat theatre. It is located near major transport links such as various train stations, the bus exchange, and the motorway and is 20-minutes away from Auckland’s city business district by driving. Upon acquisition, Prime Hotels’ portfolio will comprise of nine properties with a total of 646 rooms across New Zealand.CDL Hospitality Trusts Acquires Hotel Indigo Exeter in The United Kingdom as Part of GBP19.4 Million DealCDL HBT Investments (III) Property Limited and CDL HBT Investments (III) Retail Limited, indirect wholly owned subsidiaries of Singapore-based CDL Hospitality Trusts have acquired the 104-key Hotel Indigo Exeter and two retail units for GBP19.4 million from Hotel Exe Limited, Plaza Properties (Holdings) Limited, and Plaza Retail (Holdings) Limited through an asset and business purchase agreement. The freehold, upscale lifestyle boutique hotel features three on-site food and beverage establishments, a spa, and a fitness centre. It is located at the entrance of the Princesshay Shopping Centre, in close proximity to major transport nodes, various attractions, and the commercial district. The Hotel was fully operational in October 2023 after undergoing an extensive conversion and will continue to operate under the “Hotel Indigo” brand name under a franchise agreement with UK-based InterContinental Hotels Group.Sunset Hospitality Will Rebrand Hotel Fort Canning to Mett SingaporeUAE-based Sunset Hospitality Group (“Sunset Hospitality”) announced their takeover of the space occupied by Hotel Fort Canning Singapore through its hotels and resorts unit, Mett Hotels & Resorts from Singapore-based Eng Wah Global. The Hotel Fort Canning will be renovated and rebranded to the Mett Singapore hotel by Q3 2025 to feature various lifestyle and entertainment options, ranging from beach clubs, restaurants to nightlife. This deal comes two months after Sunset Hospitality’s acquisition of Hong Kong-based food & beverage group Maximal Concepts and is part of Sunset Hospitality’s global expansion strategy.HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.</div>

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JBAM Acquires Mercure Ambassador Seoul Hongdae for KRW300 Billion in South Korea. JB Asset Management (“JBAM”), a subsidiary of South-Korea based JB Financial Group, has acquired 270-key Mercure Ambassador Seoul Hongdae from South Korea-based fund manager, Hyundai Asset Management, for KRW300 billion. Following the acquisition, Japan-based Sotetsu Hotels Management Co. Ltd will take over as the hotel’s operator. Mercure Ambassador Seoul Hongdae, located in the vibrant Hongdae area, features 24 floors and a total floor area of 17,058.52 square metres. The property includes a restaurant, bar, coin laundry and two meeting rooms and is just a two-minute walk from Hongik University subway station.