Hanwha has agreed to sell the four-star Courtyard by Marriott Suwon in Gwanggyo, Suwon, Gyeonggi Province, to ARA Korea Asset Management for approximately 100 billion won ($73.0 million). The parties signed the sale and purchase agreement on September 1, with closing expected by the end of September. ARA Korea is financing the acquisition entirely with its own capital through ARA Korea Real Estate Blind Private Placement Fund No. 16, without acquisition financing. The price equates to about 400 million won ($290,000) per room for the 288-room property, below the nearly 700 million won ($510,000) average recently approached by four-star hotel transactions in Seoul. Opened in January 2020, the hotel is part of a MICE complex containing the Suwon Convention Center and is the only four-star hotel in Gwanggyo new town. Its proximity to Samsung Electronics' Digital City and the Yongin-Hwaseong-Pyeongtaek semiconductor cluster supports corporate travel and MICE demand, while the Gwanggyo area provides weekend leisure and tourism potential. The acquisition is ARA Korea's second South Korean hotel investment after its 415 billion won purchase of Conrad Seoul in 2024. Hanwha has pursued the sale since 2024 to manage liquidity and adjust its real estate portfolio, with proceeds expected to support debt repayment and core businesses. Financial pressure intensified after the spin-off of Hanwha Machinery & Service Holdings, which left most debt with the surviving entity and pushed its debt-to-equity ratio to an estimated 270% range. Hanwha also plans to take up its allocation in Hanwha Solutions' rights offering, worth around 1 trillion won.