Ascendas Hospitality Trust acquires hotel in Seoul for USD69 million


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%.

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