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Power up again today
At 0.76 with 4.5mio volume
Yes i know but looks like some big player wants to take over Ascendas Hosp Trust..
It' s holding up strong.
In general, Hospitality Trusts are trading below NAV.
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-3-january-2016/
they better finish their strategic review fast
Thanks! SWFs, institutionals and Info Memos - all sounds rather nice ain't it??l :)
ecekca ( Date: 31-Dec-2015 08:11) Posted:
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http://www.theaustralian.com.au/business/property/ascendass-14bn-hotels-portfolio-for-sale/news-story/cdd0f60e971779a3ef1637ace8492dcc
Ascendas&rsquo s $1.4bn hotels portfolio for sale
Singaporean fund manager Ascendas has moved to offload a number of significant Australian hotels, placing its $1.4 billion hospitality portfolio on the market just weeks after another group based in the city-state said it would sell a string of landmark hotels valued at more than $1.5bn.
The Ascendas Hospitality Trust, with seven properties in Australia, including the Pullman Sydney Hyde Park and the Pullman and Mercure Melbourne Albert Park, controls more than 4200 rooms across the country and in China, Japan and Singapore.
JPMorgan has been drafted as an adviser in the sales process, with the properties likely to attract the interest of sovereign wealth funds and other institutional investors at a time when the local market is experiencing growth in room rates and tourism numbers.
The portfolio is the second major group of hotels to hit the market within the month, and comes at the end of a sweltering 18 months in which deep-pocketed offshore groups have set benchmarks for Australian hotels, buying landmark properties and pushing transaction volumes to unprecedented highs.
Now there are signs that a wave of selling activity is graduating from single-asset sales to entire portfolios.
Earlier in December, M& L Hospitality, controlled by the Singapore-based Kum family, placed its 2089-room hotel portfolio, which includes Sydney&rsquo s Sheraton Four Points and Melbourne&rsquo s Hilton DoubleTree, on the market for as much as $2bn, in the first major hotel portfolio sale for more than a decade.
The hotel market has been one of the property sector&rsquo s best- performing asset classes in the past year, with increasing valuations leading to opportunistic sales of a number of major properties.
The performance has not gone unnoticed by a swag of offshore investors. Asian investment house Bright Ruby acquired the Hilton Hotel in Sydney this year for $442 million, while Singaporean developer Far East Organisation and the Hong Kong-listed Sino Land Company swooped on the five-star Westin Sydney at 1 Martin Place for $445.3m.
Recent research by Knight Frank shows about 88 per cent of the Sydney CBD&rsquo s four and five-star hotel stock is owned by offshore investors, a rise from 69 per cent in early 2010.
Singapore remains the largest investor country in Sydney&rsquo s hotel market, accounting for 29 per cent of rooms, while ownership by Chinese and Hong Kong investors has increased from &ldquo effectively zero&rdquo to 18.4 per cent, according to the Knight Frank figures.
Ascendas Hospitality Trust, listed on the Singapore stock exchange, last week said it was undertaking a strategic review after receiving an unsolicited expression of interest to acquire the trust, which is 25 per cent-owned by Ascendas.
Tan Juay Hiang, chief executive of Ascendas Hospitality Fund Management, said discussions were &ldquo at an early stage&rdquo .
&ldquo Accordingly, there is no certainty that any definitive agreement will be entered into and there is no certainty that any transaction will materialise from the current discussions,&rdquo he said.
However, The Australian understands an information memorandum has been circulating among investors, with hope of a concrete acquisition proposal by the end of January. AHT&rsquo s 11-property portfolio is most exposed to Australia, although it has a substantial investment in the Park Hotel Clarke Quay in Singapore, valued at $S312m ($305m).
Its most valuable Australian property is the Pullman and Mercure Brisbane King George Square, at $133.5m.
The trust recently acquired the serviced apartment component of the Aurora Melbourne Central apartment project developed by Malaysian firm UEM Sunrise for $120m. The 92-storey project, expected to be completed in 2019, will add 252 serviced apartments to the portfolio.
Ascendas has switched its focus to Australian industrial property in recent months, spending $76.6m to acquire a 38,549sq m property in the Sydney suburb of Greystanes.
what do you means good hotels in singapore are > $1000? you mean 1mio per room?
us9392 ( Date: 31-Dec-2015 03:26) Posted:
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At A$1.4 bio for the 11 hotels ( 4300 rooms) values A$325,000 per room key.
Good hotels in singapore are > S$1000 already. No wonder JPM expert advise
needed on the deal. Too cheap may not sell thats why its call unsolicited , a nice
name for low-balling.
( please DO your own homework )
Thanks Bro
Goldfinger ( Date: 30-Dec-2015 23:49) Posted:
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Sorry, not sure why the link doesn' t work here - anyway, think you guys will know how to find this source. Happy reading.
Goldfinger ( Date: 30-Dec-2015 23:46) Posted:
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Think I found the source of the article, in The Australian newspaper. This makes the entire saga a lot more interesting don' t you think? http://www.theaustralian.com.au/business/property/ascendass-14bn-hotels-portfolio-for-sale/news-story/cdd0f60e971779a3ef1637ace8492dcc
nngeeh ( Date: 30-Dec-2015 23:14) Posted:
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Hi Bro,
Could you help to paste the news? I' m interested to know about A1.4Billion. Many Thanks.
ecekca ( Date: 30-Dec-2015 21:20) Posted:
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this news only on bloomberg terminal.
just some news on this..but no article ..
Goldfinger ( Date: 30-Dec-2015 18:21) Posted:
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Can you share the article? Tks
ecekca ( Date: 30-Dec-2015 16:20) Posted:
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Latest news on bloomberg
Ascendas Hosp A$1.4b Hotel Portfolio for Sale
JPM hired to manage the sale process, the Australian paper reports, without saying where it got the information
Portfolio includes seven properties in Australia
anyone has any latest news on this?
yes. waiting for their outcome of their finding.
Goldfinger ( Date: 29-Dec-2015 17:57) Posted:
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Since there was no outright rejection - I expect there could be serious consideration of the bid. As IPO was at 88cts price shouldn't be that far away I hope - at least not another SQ- Tiger affair..
ecekca ( Date: 28-Dec-2015 21:27) Posted:
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that time, it dirt cheap.
This time, it' s still cheap. HK property still rising too as compare to Singapore property. That is also why the price has been up .
Your statement on pay alot more is very qualitative cos it still trading cheap at the moment.
junction ( Date: 29-Dec-2015 09:40) Posted:
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Fortune Reit has seen its stock price and dividends appreciate a lot in the last few years of easy money and rentals revision of its malls has seen its best days but shareholders are used to see capital and dividends appreciate so will demand high valuation. Why would a potential buyer want to spend much more money to take over a well run company with less potential to improve its business than a not so well run company with lots of room to make it better and reap a bigger profit and spending much less in the process?
ecekca ( Date: 27-Dec-2015 20:48) Posted:
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