The previous post was about Global Premium Hotels IPO, the owner of economy hotel chain Fragrance hotel. M&L Hospitality Trust on the other hand, has hotels in Singapore, Australia and Japan under different brand names. They are Singapore (Ibis Bencoolen and Ibis Novena), Australia (Sheraton Four Points Sydney, Swissotel Sydney and Travelodge Melbourne) and  Japan (Hilton Nagoya). M&L Hospitality Trust is priced between $0.80 to $0.87 and will have an implied dividend yield of 7.4% to 8.0% for FY 2012.

IBIS Novena

Well Diversified Portfolio

M&L is well diversified with about 40% of net income derived from budget and mid-tier respectively and 20% from high end. M&L is also diversified across several countries, with approximately 31% in Singapore, 39% in New Zealand, 11% in Australia and 18% in Japan. Looking at the individual hotels, the hotels also seem to be quite well located in general, ...