CAPITALAND Ascott Trust (Clas) has acquired two freehold limited-service hotels in Japan – ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae – for 21 billion yen (S$178.5 million).

The acquisition is part of Clas’ portfolio reconstitution strategy to enhance the quality of its portfolio and deliver stable returns to its stapled securityholders, said Serena Teo, chief executive of its managers (CapitaLand Ascott Trust Management and CapitaLand Ascott Business Trust Management) on Friday (Jan 31).