SINGAPORE (Nov 28): Ascendas Hospitality Trust (A-HTRUST) is acquiring Ibis Ambassador Seoul Insadong for KRW77.5 billion ($94.5 million).

Completed in 2013, the 363-room hotel is located near Jung-gu, one of the major business districts in Seoul. The hotel also has a restaurant, a bar, two meeting rooms, a gym, a sauna, as well as 24 carpark spaces.

A-HTRUST’s manager says the hotel is located in close to prominent tourist destinations including the Insadong retail precinct, Changdeokgung Palace and Jongmyo Shrine. The facility is also easily accessible via the nearby Jongno 3-ga Station, which connects the hotel to other parts of Seoul.

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