Ascendas Hospitality Trust

[Dosser]

Unsolicited expression of interest to acquire all of the stapled securities:

http://infopub.sgx.com/FileOpen/Holding%...eID=383468

No details yet.

[greengiraffe]

Ascendas’s $1.4bn hotels portfolio for sale

• THE AUSTRALIAN
  
  
• DECEMBER 29, 2015 12:00AM
  
• Kylar Loussikian
  [Image: kylar_loussikian.png]
  Journalist
  Sydney
  
  Samantha Hutchinson
  [Image: sam_hutchinson.png]
  Property writer
  Sydney
  
  

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The Pullman Melbourne Albert Park.

[Image: 6ae0c1222625b6064920cda14a6ff39f?width=650]

[Image: 87bdffcc91adb427463e4b525c7a148a?width=650]

The Pullman Melbourne Albert Park.

[Image: 6ae0c1222625b6064920cda14a6ff39f?width=650]

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[/url][url=http://www.theaustralian.com.au/business/property/ascendass-14bn-hotels-portfolio-for-sale/news-story/cdd0f60e971779a3ef1637ace8492dcc#]

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Singaporean fund manager ­Ascendas has moved to offload a number of significant Australian hotels, placing its $1.4 billion ­hospitality portfolio on the ­market just weeks after another group based in the city-state said it would sell a string of landmark hotels valued at more than $1.5bn.

The Ascendas Hospitality Trust, with seven properties in Australia, including the Pullman Sydney Hyde Park and the Pullman and Mercure Melbourne ­Albert Park, controls more than 4200 rooms across the country and in China, Japan and Singapore.
JPMorgan has been drafted as an adviser in the sales process, with the properties likely to attract the interest of sovereign wealth funds and other institutional investors at a time when the local market is experiencing growth in room rates and tourism numbers.
The portfolio is the ­second major group of hotels to hit the market within the month, and comes at the end of a sweltering 18 months in which deep-pocketed offshore groups have set benchmarks for Australian hotels, buying landmark properties and pushing transaction ­volumes to unprecedented highs.
Now there are signs that a wave of selling activity is graduating from single-asset sales to entire portfolios.
Earlier in December, M&L Hospitality, controlled by the Singapore-based Kum family, placed its 2089-room hotel portfolio, which includes Sydney’s Sheraton Four Points and Melbourne’s Hilton DoubleTree, on the market for as much as $2bn, in the first major hotel portfolio sale for more than a decade.
The hotel market has been one of the property sector’s best-­performing asset classes in the past year, with increasing valuations leading to opportunistic sales of a number of major properties.
The performance has not gone unnoticed by a swag of offshore investors. Asian investment house Bright Ruby acquired the Hilton Hotel in Sydney this year for $442 million, while Singaporean developer Far East Organisation and the Hong Kong-listed Sino Land Company swooped on the five-star Westin Sydney at 1 Martin Place for $445.3m.
Recent research by Knight Frank shows about 88 per cent of the Sydney CBD’s four and five-star hotel stock is owned by offshore investors, a rise from 69 per cent in early 2010.
Singapore remains the largest investor country in Sydney’s hotel market, accounting for 29 per cent of rooms, while ­ownership by Chinese and Hong Kong investors has increased from “effectively zero” to 18.4 per cent, according to the Knight Frank figures.
Ascendas Hospitality Trust, listed on the Singapore stock ­exchange, last week said it was undertaking a strategic review after receiving an unsolicited ­expression of interest to acquire the trust, which is 25 per cent-owned by Ascendas.
Tan Juay Hiang, chief executive of Ascendas Hospitality Fund Management, said ­discussions were “at an early stage”.
“Accordingly, there is no certainty that any definitive agreement will be entered into and there is no certainty that any transaction will materialise from the current discussions,” he said.
However, The Australian understands an information memorandum has been circulating among investors, with hope of a concrete acquisition proposal by the end of January. AHT’s 11-property portfolio is most exposed to Australia, although it has a substantial investment in the Park Hotel Clarke Quay in Singapore, valued at $S312m ($305m).
Its most valuable Australian property is the Pullman and ­Mercure Brisbane King George Square, at $133.5m.
The trust recently ­acquired the serviced apartment component of the Aurora ­Melbourne Central apartment project developed by Malaysian firm UEM Sunrise for $120m. The 92-storey project, expected to be completed in 2019, will add 252 serviced apartments to the portfolio.
Ascendas has switched its focus to Australian industrial property in recent months, spending $76.6m to acquire a 38,549sq m property in the Sydney suburb of Greystanes.

[cfa]

Hope St****** plans to unlock its hotel value also .

[greengiraffe]

Hope St****** plans to unlock its hotel value also .

St****** has been systematically unlocking. Ascendas on the other hand could be seen as giving up

[butcher]

are there something wrong with australian tourism industry? why everyone is exiting?

[greengiraffe]

are there something wrong with australian tourism industry? why everyone is exiting?

The fun mgr who no longer can find any fun here is cutting losses... or limiting losses... have u seen others exiting?

[Dosser]

Ascendas H-Trust jumped 3c today. Not sure if this was in response to decent 3Q results or whether we can expect some further details of the unsolicited offers soon.

Vested

[SpaceX]

Trying to understand this counter. The dividend looks good at 8.4% based on 3Q result and today price $0.78. However based on the quarterly DPS trend, is it going to be down in the coming 4Q? Anybody can advise?thanks





Sent from my iPhone using Tapatalk

[corydorus]

Trying to understand this counter. The dividend looks good at 8.4% based on 3Q result and today price $0.78. However based on the quarterly DPS trend, is it going to be down in the coming 4Q? Anybody can advise?thanks





Sent from my iPhone using Tapatalk

You ask a good question. This REIT do twice a year distribution.
I did a comparison on dividends distribution in May period between the 2 years. And the later year is higher. DYODD.



.

[cyclone]

A-HTRUST to enter South Korea market via acquisition of KY-Heritage Hotel Dongdaemun

Ascendas Hospitality Trust ("A-HTRUST") has today, via Ascendas Hospitality Business Trust, entered into a sale and purchase agreement to acquire 98.7% interest in KY-Heritage Hotel Dongdaemun for KRW72.1 billion (S$89.0 million). The Acquisition marks A-HTRUST’s maiden entry into the South Korean market and reinforces its strategy to invest in a well-diversified portfolio of quality assets.

The 215-room Hotel is a 4-star hotel located in Dongdaemun, a major shopping and tourist destination in Seoul. Sitting on freehold land, the development of the 20-storey Hotel was completed in 2015. The facilities offered by the Hotel include a restaurant, a cafe, two conference rooms and a gym. The Hotel is currently owner-operated, and will be managed by the Hotel Operator with effect from 1 July 2018.

The consideration is at a 3.2% discount to the latest valuation of the Hotel and translates to a pro forma net property income yield of 4.1%. The Acquisition is expected to be fully funded by debt. The completion of the Acquisition, which is conditional upon satisfaction of certain conditions including Korea regulatory approval, is expected to take place by June 2018.

More details in :
1. http://infopub.sgx.com/FileOpen/Announce...eID=501817
2. http://infopub.sgx.com/FileOpen/Press%20...eID=501818
3. http://infopub.sgx.com/FileOpen/Presenta...eID=501819