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Ascendas Hospitality Trust Latest Seoul Acquisition
By CS Jacky - 360 Wealth Management  •  December 1, 2018

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Ascendas Hospitality Trust (AHT) has been actively acquiring hotels since they recycled capital via the sale of two Beijing hotels in Jan this year.

The latest acquisition is the Ibis Ambassador Seoul Insadong, for a purchase amount of about S$94.5 million. It is a 363 room hotel built in 2013, sitting on freehold land near the major tourist attractions of Geongbuk Palace, Bukchon Hanok Village, Insadong cultural district and Changdeukgung Palace.

This comes hot on the heels of recent acquisitions in 2018:

As a second Seoul hotel acquisition this year, it seems that management is confident of the Seoul tourism market recovery, after the Korea-China Thaad missile row spurring a strong growth in China tourists arrivals.

In the first nine months this year, China tourists number is up by

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By CS Jacky - 360 Wealth Management
MAS dual-licensed stock remisier and financial adviser with Phillip Securities. Graduated with a Bachelor of Business Administration (Finance) from NUS. Bought first stock at the age of 22 and had been regularly investing in stock market since 2010. Select strong companies with good prospect trading at low valuation using a unique blend of fundamental, portfolio and technical analysis. Also invest in REITs for regular dividends.
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