Tianfang said to plan S$500m S'pore IPO for hotel trust

Singapore

TIANFANG Hospitality Management Pte is planning an initial public offering for a trust backed by three hotels in China that could raise about S$500 million, people with knowledge of the matter said.

The Singapore listing could take place as early as September, the sources said, asking not to be identified as the information is private. The real estate investment trust's portfolio consists of the Ritz-Carlton Hotel and Tianmu Hot Spring Resort Hotel in the northern city of Tianjin, as well as the InterContinental Sanya Haitang Bay Resort Hotel on tropical Hainan island, two of the sources said.