Singapore

CDL Hospitality Trusts (CDLHT) announced on Tuesday its acquisition of Pullman Hotel Munich and its office and retail components for about 100 million euros (S$153.8 million). The deal will be fully funded by debt financing and is accretive with a net property income yield of 5.6 per cent for FY 2016.

This is CDLHT's first acquisition in continental Europe. The hotel, which has a four-star rating, is near major business districts.