News Formal

Ascott Reit buys 150-room business hotel near Sydney Airport for A$61m

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Ascott Reit to buy 150-room business hotel near Sydney Airport for A$61m

ASCOTT Residence Trust is buying a 150-room business hotel near Sydney Airport in Australia for A$60.6 million , the hospitality trust announced on Wednesday during the mid-day trading break.

The acquisition will be the trust's first business hotel in Australia and its first property to be managed by its sponsor, The Ascott Ltd, under the new Citadines Connect brand. It will be funded by bank loans, divestment proceeds from the previously announced sale of Ascott Raffles Place Singapore, or a combination of both. The deal has an Ebitda yield of 6 per cent.

"With this enhanced presence in the vicinity of Sydney Airport, Ascott Reit is not only well positioned to benefit from the growing transient traveller traffic, but more importantly gain access to a significant number of transport and logistics-related national corporate accounts, as well as to capture demand from the growing industries in its neighbouring suburbs," he added.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 15. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stocks to watch: Sabana Reit, Sino Grandness, ASTI Holdings, New SilkroutesTHE following companies saw new developments that may affect trading of their shares on Monday: Read more at The Business Times.
La source: BusinessTimes - 🏆 15. / 51 Lire la suite »

Asian business sentiment near 3-year low as trade war dragsCONFIDENCE among Asian companies held near three-year lows in the first quarter as a US-China trade dispute dragged on, pulling down a global economy that is already on a downward path, a Thomson Reuters/ INSEAD survey found. Read more at The Business Times.
La source: BusinessTimes - 🏆 15. / 51 Lire la suite »

Stocks to watch: Sabana Reit, Sino Grandness, ASTI Holdings, New SilkroutesTHE following companies saw new developments that may affect trading of their shares on Monday: Read more at The Business Times.
La source: BusinessTimes - 🏆 15. / 51 Lire la suite »