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CapitaLand invests US$25.9m in Indonesian hotel operator
Move will see its Ascott portfolio jump by close to 20,000 units in 122 hotels across Indonesia, Malaysia and Vietnam for a global total of over 94,000 units
Add BT as a preferred sourcePublished Mon, Sep 17, 2018 · 09:50 PM
Singapore
CAPITALAND has invested US$25.9 million for a 70 per cent share in Indonesian company Green Oak Hotel Management (GOHM), the real estate developer announced on Monday.
The investment in GOHM, which is the holding company of Tauzia, one of Indonesia's top five hotel operators, is part of CapitaLand's strategy to grow its hospitality business through The Ascott, its wholly-owned serviced residence business unit.
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