CDL Hospitality Trusts (CDLHT) is acquiring an upscale lifestyle boutique hotel in Exeter, England, as well as two retail units in the hotel for about £19.4 million (S$33.2 million), its managers announced on Tuesday (Oct 15).

The acquisition is expected to complete once the relevant conditions are met, it said, adding that the managers were of the view that the acquisition is in the ordinary course of CDLHT’s business.