OKO and Shinsegae Launch Luxury Development Fund
Skift Take
Vlad Doronin’s OKO Group and Shinsegae Group are starting a new fund to develop luxury hotels and other properties. Plus, more hotel deal and development news from APAC.
Cushman & Wakefield said occupancy at economy hotels in Singapore is nearing pre-pandemic levels. C&W said overall hotel RevPAR has weakened as visitor arrivals have slowed and occupancy has declined. Luxury average room rate continues to grow. Luxury RevPAR is still down 1.2% YTD. C&W believes international arrivals for 2026 may still be able to exceed prior-year levels. Hotel room supply growth in Singapore is expected to slow down to an average of 1.5%, way down from the 4.6% between 2015 and 2019. The majority of new hotel supply this year will be from the mid-tier and economy segments.
Japan received 21.08 million foreign visitors in the first half of the year, down 2% from the same period a year earlier, marking the country’s first decline in inbound tourism for the January-June period in five years. The drop was largely driven by a sharp decline in arrivals from Mainland China after Beijing advised its citizens against traveling to Japan, partially of
