Sprinta Inc has acquired a lodging facility in Taipei for NT$5.58 billion (US$184.52 million), making it the largest hotel deal this year, as less competitive hotels seek to exit the market.
Bellazza Taipei Hotel (台北和璞飯店), a hotel combined with banquet facilities in Taipei’s Dazhi area (大直), was purchased in July, according to the latest data on the Ministry of the Interior’s real-estate transaction Web site.
Sprinta, registered in the Cayman Islands with capital of NT$710 million, bought a five-year lease on the property, known for being the venue of an extramarital affair by celebrity Taiwanese chef Cheng Yen-chi (鄭衍基), better known as A-chi-shih (阿基師), in 2014.
The property, which has changed its Chinese name but kept its English title, has eight floors and 7,316.14 ping (24,185
The deal represents a 20 percent discount on the original asking price of more than NT$7 billion, real-estate brokers said.
More than 100 hotels nationwide have sought to bow out of the market after occupancy rates took a hit from a sharp decline the number of Chinese tourists.
The rapid entry of new hotels also helped weigh on the industry.
Bellazza Taipei Hotel has 107 guestrooms and the deal translate into NT$50 million for each, not a bargain compared with other properties in the vicinity, real-estate brokers said.
Price adjustments are necessary on the part of sellers if they want to conclude transactions, as evidenced by the Bellazza Taipei Hotel deal, real-estate brokers said.
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