The bidding for Voco Seoul Myeongdong, which garnered attention as the first hotel bidding of the year, saw participation from six domestic and international asset management companies, resulting in fierce competition. Singapore-based asset management company CapitaLand Investment and Japan-based asset management company ARA Korea Asset Management engaged in fierce competition, leading to the CapitaLand being selected as preferred bidder on January 28. CapitaLand Asset Management has offered a price in the late KRW 360 billion range, which exceeds KRW 600 million per room. Although it did not reach the level of Four Points Myeongdong, which traded for over KRW 650 million per room last year, the price has […]