Ascendas Hospitality Acquires Seoul Property

News about Ascendas Hospitality Trust

Ascendas Hospitality Trust is acquiring the Ibis Ambassador Seoul Insadong, in South Korea, for about S$94.5 million. The freehold asset is a 363 rooms hotel built in 2013 leased by the Ambassador Hotel Group, with a 20 years tenor starting in 2013.

The purchase is intended to be funded by dept and be DPS accretive.