Ascendas Hospitality Trust (A-HTRUST) is acquiring Ibis Ambassador Seoul Insadong for KRW77.5 billion (USD69 million).
It will be the Singapore-listed trust’s second acquisition in South Korea after The Splaisir Seoul Dongdaemun 2.
The acquisition consideration is at a discount of 3.1% to its latest valuation, and translates to a pro forma net property income yield of 4.6%.
To read the full article, please login or subscribe.
