Ascendas Hospitality Trust to buy three Osaka hotels for 10.29b yen

Singapore

ASCENDAS Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan's Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million).

The manager of the hospitality trust said that the acquisition of the three hotels - Hotel WBF Kitasemba West, Hotel WBF Kitasemba East and Hotel WBF Honmachi - will deepen its presence in Osaka, Japan's third-largest city with a population of 2.7 million people.