The Queen Mary Longbeach, a property of Eagle Hospitality Trust. (Eagle Hospitality Trust)

The REIT trustee of Eagle Hospitality Trust (EHT) has come forward to explain why it turned down the proposal forwarded by Constellation Hospitality Group (CHG) LLC, in the bid to dispose of 15 of EHT's hotel assets.

In a statement forwarded to REITsWeek, the REIT trustee, DBS Trustee, also explained why it is choosing not to delay the sale process of the assets, despite pleas from unitholders to postpone the transaction citing an improved outlook in the hospitality industry.

As REITsweek reported on 26 May, a group of unitholders has submitted an appeal to the Monetary Authority of Singapore (MAS), urging the regulator to intervene in the imminent disposal of 15 EHT hotel assets.

Related: Eagle Hospitality Trust investors appeal for MAS intervention in disposal of 15 assets

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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.