Singapore-listed Ascendas Hospitality Trust (A-HREIT)(SGX:Q1P) has come forward to clarify recent reports of its acquisition of a hotel property in Singapore.

Though listed in Singapore, A-HREITt holds no properties in  the city state. Photo : Ascendas Hospitality Trust.  

Business Times Singapore has previously published an article in its 5 April edition titled "Imminent Sale of Park Hotel Clarke Quay – Buyer tipped to be Ascendas Hospitality Trust; price around $300 million".

A-HREIT has clarified that in a statement that no definitive agreements have been entered into in relation to the acquisition of Park Hotel Clarke Quay. It also added that "there is no assurance that such definitive agreements will be entered into". However A-HREIT has confirmed in the same statement that it is indeed in discussions with the vendor of Park Hotel Clarke Quay.

Should the acquisition proceed, it will be the Singapore-listed Trust's first Singapore property and its eleventh overall. The REIT currently has ten hotels across Australia, China and Japan. Shares of A-HREIT closed unchanged at S$1.02 on release of the news.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.