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CDL Hospitality Trusts enters Japan, acquires two hotels
Acquisition of Hotel MyStays Asakusabashi and Hotel MyStays Kamata to cost 6b yen
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Nisha Ramchandani
Published Mon, Dec 1, 2014 · 09:50 PM
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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.
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