Comprising 14 hotels and serviced residences across Asia, Australia and Europe, FHT’s portfolio is currently valued at S$2 billion and includes the 406-room InterContinental hotel at Singapore’s Bugis Junction and a 380-unit Novotel in Melbourne, Australia.

The trust also holds Fraser Suites serviced apartment complexes in Australia, Singapore and the UK.

Frasers Property is proposing to take SGX-listed Frasers Hospitality Trust private in an all-cash deal that values the REIT at S$1.35 billion ($970 million), according to a joint announcement on Monday, as the hospitality sector continues to face headwinds.

Also the trust’s sponsor, Frasers Property is offering S$0.70 in cash per share to take over the hotel and serviced apartment trust in line with a recent strategic review conducted by the REIT’s independent directors, citing the sector’s bumpy recovery, growing market uncertainties globally and the trust’s small size relative to its peers as factors precipitating the buyout.

(source)