The preferred bidder for the DL Group’s Glad Hotel portfolio has been selected. DL Group has been negotiating with foreign investors and global asset management companies since last year to sell its portfolio of three hotels, Glad Yeouido, Glad COEX, and Maison Glad Jeju. Given the large scale and the fact that Korean institutional investors are not interested in the hotel sector, it was expected that global asset management companies or foreign institutional investors with mega-sized funds would show interest. Blackstone, an active pursuer of hotel investments, had engaged in negotiations for a sale, but these fell through. In the bidding conducted last December, various foreign investors including […]