CapitaLand Ascott Trust (CLAS) is divesting three hotels in Osaka, Japan to an unrelated third party for a total of JPY10.7 billion (S$99.8 million[1]). The three properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West.
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CapitaLand Ascott Trust (CLAS) has signed a Memorandum of Understanding (MOU) with its sponsor, The Ascott Limited (Ascott), for a proposedDPS-accretive acquisition of three lodging assets in the United Kingdom (UK), Ireland and Indonesia at an agreed property value of S$530.8 million. The three assets are a hotel in London, The Cavendish London; a hotel in Dublin, Temple Bar Hotel; and a serviced residence in Jakarta, Ascott Kuningan Jakarta. The acquisition will enable CLAS to enhance its income streams and capitalise on the travel recovery and robust lodging demand.
The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment, is set to debut The Crest Collection a global portfolio of charming bespoke hotels and serviced residences that integrates heritage stories with curated hospitality experiences, in Singapore, China and Vietnam. The Crest Collection will also continue to grow its current portfolio in France with the addition of its fifth property in Saint-Germain-des-Prés, Paris. To date, Ascott has secured over 1,000 units across eight properties under The Crest Collection. Ascott has more properties under the brand in the pipeline, in key travel destinations such as Jakarta, Bangkok, Tokyo, Osaka and London.