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Ascott Reit pays US$106m for NYC's DoubleTree

Freehold property under Hilton brand brings its Manhattan portfolio to 1,004 units

The hotel has been achieving a strong performance since opening in 2008, said Ascott Reit's Mr Beh.

ASCOTT Residence Trust (Ascott Reit) on Wednesday said that it is acquiring the 224-unit DoubleTree by Hilton Hotel New York - Times Square South for US$106 million.

The freehold property is located in Midtown Manhattan near Times Square and within walking distance to other attractions...

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