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Ascendas Hospitality Trust sells its only two China properties for $235.9 mil

Michelle Zhu Published on Mon, Jan 29, 2018 / 6:16 PM GMT+8

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SINGAPORE (Jan 29): The managers of Ascendas Hospitality Trust (A-HTRUST) are selling two hotel properties, Beijing Novotel Sanyuan and Ibis Beijing Sanyuan, for a total of RMB1.156 billion ($235.9 million) in cash.

Beijing Novotel Sanyuan is a mid-scale, 17-storey hotel located in the Chaoyang District of Beijing, China. It offers 306 guest rooms.

Ibis Beijing Sanyuan is a 14-storey economy hotel with 397 guest rooms, and is located adjacent to Novotel Beijing Sanyuan.

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