CR Longdation to convert Kwai Chung hotel after $953m acquisition

Hotel Cozi Oasis near Kwai Fong sold for student housing in one of 2026’s largest deals.

CR Longdation (CRLD), a member of China Resources (Holdings) Co. Ltd, has acquired the Hotel Cozi Oasis on Castle Peak Road, Kwai Chung, for approximately $953m with Colliers and Knight Frank acting as advisors on the transaction.

The property spans around 293,000 square feet, with 583 guest rooms across six room types. CRLD intends to convert the hotel into student accommodation with roughly 900 beds, upgrading rooms and adapting common areas for student use.

“The property is located about seven minutes’ walk from MTR Kwai Fong Station. Existing facilities include meeting rooms, a gym, and an outdoor garden,” said Thomas Chak, Head of Capital Markets & Investment Services at Colliers Hong Kong.

“CRLD plans to upgrade the rooms and provide student-oriented facilities in the common areas," he added.

“Knight Frank assisted CRLD in completing the transaction. The property was acquired for $953 million and is one of the largest hotel transactions in Hong Kong this year.” said Willis Mak, Executive Director, Head of Private Clients, Greater China at Knight Frank.

CRLD’s previous acquisitions include KF88, retail podiums of Alto Residences, and three community retail properties from the Hong Kong Housing Society’s commercial portfolio in 2024.