Ascendas Hospitality Trust's Hotel Sunroute Ariake. (Photo: Google Maps)

Ascendas Hospitality Trust has entered into a memorandum of understanding (MOU) with Sotetsu Hotel Management to lease Hotel Sunroute Ariake, and Oakwood Apartments Ariake Tokyo entirely with effect from 1 April 2018.

The property is currently a dual-brand accommodation comprising of Hotel Sunroute Ariake which offers 790 guest rooms, and Oakwood Apartments Ariake Tokyo which offers 122 serviced apartments.

The complex is located in the Ariake district and in close proximity to Big Sight, an international convention centre, Ariake Colosseum and retail hubs such as Odaiba and Ginza.

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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.