Ascott Reit buys 150-room business hotel near Sydney Airport for A$61m
It will be rebranded as Citadines Connect Sydney Airport and will be the trust's first Aussie business hotel
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Singapore
ASCOTT Residence Trust (Ascott Reit) is buying a 150-room business hotel near Sydney Airport in Australia for A$60.6 million (S$58.2 million), the hospitality trust announced on Wednesday during the mid-day trading break.
The freehold limited-service Felix Hotel will be rebranded as Citadines Connect Sydney Airport upon completion of the deal in May 2019, the trust manager said.
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