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Sign in Sign up for a FREE subscriptionTrusts to form Asia Pacific’s largest hospitality trust in S$1.2b combination deal
Ascott Residence Trust and Ascendas Hospitality Trust (A-HTRUST) have entered a monumental combination deal to create what would become Asia Pacific’s largest hospitality trust, and the eighth-largest globally with S$7.6 billion ($4.9 billion) in assets under management.
The REIT will also become the seventh-largest trust listed on the Singapore Exchange by asset value.
The combination is valued at S$1.2 billion ($882 million), which would combine Ascott Reit’s global portfolio comprised predominantly of serviced residences, with A-HTRUST’s 14 quality hotels in Asia Pacific.
The joint portfolio would consist of 88 properties with more than 16,000 units in 39 cities and 15 countries across Asia Pacific, Europe and the United States. It will also further diversify Ascott Reit’s global portfolio in Brisbane and Seoul.
