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Munich hotel acquisition offers income diversification and stability

Samantha Chiew
Samantha Chiew6/29/2017 10:33 AM GMT+08  • 2 min read
Munich hotel acquisition offers income diversification and stability
SINGAPORE (June 29): RHB is maintaining its “buy” call on CDL Hospitality Trusts (CDLHT) with a target price of $1.70 given income diversification and stability from its latest German hotel property acquisition.
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SINGAPORE (June 29): RHB is maintaining its “buy” call on CDL Hospitality Trusts (CDLHT) with a target price of $1.70 given income diversification and stability from its latest German hotel property acquisition.

CDLHT on Tuesday announced the acquisition of a 94.5% stake in Pullman Hotel Munich for €98.9 million ($154.2 million) at a slight discount to its latest independent valuation.

(See also: CDL Hospitality Trusts acquires Munich hotel for $154 mil; launches $255 mil rights issue)

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