It took a matter of three days for the proposed S$1.2 billion merger between Ascott Residence Trust (ART) and Ascendas Hospitality Trust (A-HTrust) to be approved and unveiled to the public. The merger of the two Reits had been subject to much speculation since January after ART's parent, CapitaLand - one of Asia's largest real estate companies - announced its S$11 billion acquisition of...
Ascendas Hospitality Trust
Singapore's CapitaLand will combine Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) to form the largest hospitality trust in the Asia-Pacific region, it was announced on Wednesday (Jul 3). The proposed combination will result in the combined entity becoming the eighth largest hospitality trust globally, with an asset value of S$7.6 billion, the two trusts announced in a...
Ascendas Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan’s Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million). The manager of the hospitality trust said that the acquisition of the three hotels, Hotel WBF Kitasemba West, Hotel WBF Kitasemba...
Two private equity firms are weighing separate bids for Ascendas Hospitality Trust, in a deal that could be worth around US$600 million (S$860 million), according to newswire reports on Thursday (Dec 7). Ascendas Hospitality Trust owns a total of 11 hotels in Australia, China, Japan and Singapore. The majority of its properties are in Australia. According to a Reuters report, the two interested...
Ascendas Hospitality Trust (A-HTRUST) said on Wednesday (Dec 23) its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust. "This follows the recent receipt of an unsolicited expression of interest (EOI) relating to the possible acquisition of all the stapled securities issued by A-HTRUST," the trust said in a stock market filing. "The managers...
Ascendas Hospitality Trust is in talks with a number of parties to sell the Pullman Cairns International hotel, the largest five-star hotel in the Australian city's central business district. The hospitality real estate investment trust said on Wednesday (Sep 24) that the potential sale of the Cairns hotel is in line with its strategy of considering whether assets are ready for divestment to free up...
Ascendas Hospitality Trust has agreed to buy the Osaka Namba Washington Hotel Plaza in Osaka, Japan for 8.9 billion yen (S$110.8 million) in a deal that would diversify its portfolio and boost returns. The purchase price that will be paid to Ainodake Godo Kaisha is 3.3 per cent below the independent property valuation of 9.2 billion yen made by Savills Japan. The hotel will continue to be leased to...
Park Hotel Group has agreed to sell Park Hotel Clarke Quay to Ascendas Hospitality Trust for S$300 million. The hotel is located in the Clarke Quay area, started operations in 2009. The hotel has 336 guest rooms and suites. Source : Channel NewsAsia – 8 Apr...
Ascendas Hospitality Trust on Monday reported distribution per unit (DPU) of 1.77 cents for its fiscal third quarter, topping its own forecast by 4.7 per cent, as cost-cutting measures more than offset the lower-than-expected revenue. The 1.77 cents DPU takes into account the waiver of the sponsor’s distribution. Not accounting for the waiver, the DPU would have been 1.55 cents, or 5.6 per cent above...
Ascendas Hospitality Trust has received strong demand for its initial public offering. A total of over 437 million stapled securities were offered for subscription at S$0.88 per stapled security. At the close of the public offer at 12 noon on July 24, there were more than 17,000 valid applications for about 485 million stapled securities. The placement tranche of 355 million stapled securities, offered...