All three assets are located in prime locations within their capital cities, with The Cavendish, the Temple Bar Hotel and the Ascott Kuningan providing an ebitda yield of 4.1%, 7.6% and 6.7% respectively.
UOB Kay Hian analyst Jonathan Koh is maintaining his “buy” call on Capitaland Ascott Trust (CLAS) (SGX:HMN
) after the trust proposed to acquire three lodging assets in the UK, Ireland and Indonesia.
On Aug 2, CLAS signed a memorandum of understanding (MOU) with its sponsor, The Ascott Limited, to acquire the three assets, which are the 230-unit The Cavendish London, the 136-unit Temple Bar Hotel in Dublin and the 185-unit Ascott Kuningan in Jakarta. The consideration for the acquisition stood at an agreed price of $530.8 million.
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