CDL expands Japan portfolio with $78.5m hotel acquisition in Osaka
This marks CDL’s third hotel acquisition in 2023.
City Developments Limited (CDL) has acquired the Bespoke Hotel Osaka Shinsaibashi for $78.5m (JPY8.5b) or $307,000 (JPY33.2m) per key.
The hotel which opened in 2019 has 256 rooms and is located in Osaka’s Shinsaibashi commercial district.
CDL acquired the hotel through its wholly-owned subsidiary, M&C Sakura TMK.
The hotel is within a 5-minute walk to Midosuji Avenue and near the Shinsaibashi-suji shopping street. The Nagahoribashi and Shinsabashi stations are also just a 4-minute and a 6-minute walk, respectively, from the property.
Bespoke Hotel Osaka Shinsaibashi is the third hotel that CDL acquired in 2023, following the acquisitions of Nine Tree Premier Hotel Myeongdong II in South Korea and the landmark 5-star Sofitel Brisbane Central in Australia.
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