Singapore

CDL Hospitality Trusts (CDLHT) is making its foray into Japan by acquiring two hotels at a total cost of six billion yen (S$66.3 million).

CDLHT - a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-Reit) and CDL Hospitality Business Trust (HBT) - will acquire the 138-room Hotel MyStays Asakusabashi and the 116-room Hotel MyStays Kamata for 3.2 billion yen and 2.6 billion yen respectively from AKH GK. Both hotels operate in the business economy segment.