hospitality

Datapulse's hospitality quest on firmer footing with stake acquisition in local hotel

SINGAPORE (July 9): Datapulse Technology is taking another step towards its diversification into the hospitality industry – just months after it was thrust into the spotlight for buying a haircare business without proper due diligence.

In a filing to SGX late on Monday night, Datapulse announced it has entered into definitive agreements to acquire a stake in Bay Hotel Singapore at 50 Telok Blangah Road.

As at noon on Tuesday, shares in Datapulse are trading 15% lower, or down 4.5 cents, at 25.5 cents – hours after the lifting of its trading halt.

Marriott International to reinvent 'luxury' with authentic stories, exclusive travel experiences

SINGAPORE (June 3): The term ‘luxury travel’ no longer ascribes to flying first-class or private, Champagne and caviar, or presidential suites with gilded interiors. Rather than jetting off to an exotic island resort for the weekend, even the most well-heeled and discerning of modern travellers are now turning their attention to another realm of exploration: The self.

Eagle Hospitality Trust public offering re-allocated due to under-subscription

SINGAPORE (May 24): The managers of Eagle Hospitality Trust (EHT) have re-allocated 1.28 million stapled securities from the public offer to the placement tranche due to under-subscription in public tranche of the offering.

See: Eagle Hospitality Trust registers prospectus with MAS; to raise $620 mil from IPO

GIC said to be among bidders for Anbang hotel portfolio

NEW YORK (May 22): Brookfield Asset Management Inc. and Fortress Investment Group are among the bidders for a portfolio of 15 hotels owned by Anbang Insurance Group Co., according to people familiar with the sales process.

Blackstone Group LP, South Korea’s Mirae Asset Management, and GIC, Singapore’s sovereign wealth fund, are also among the bidders for the hotels, the Financial Times reported earlier today, citing unnamed sources.

Banyan Tree's 1Q earnings decline fourfold on lower revenue, absence of one-off gains

SINGAPORE (May 16): Banyan Tree Holdings reported a 74% decline in 1Q19 earnings to $5.2 million from $20.2 million on the back of lower revenue, as well as the absence of one-off gains from the dilution of the group’s interest in its China entities.

Revenue fell 17% to $81.2 million from $98.2 million in 1Q18, mainly attributable to lower contributions from the Hotel Investments segment in the absence of revenue from Banyan Tree Seychelles, which was sold in Nov 2018, as well as from Banyan Tree Phuket due to ongoing renovations.

UOL poised for greater growth with Marina Centre stake, says DBS

SINGAPORE (May 14): DBS Vickers Securities is maintaining its “buy” call on UOL Group with a target price of $8.53, which implies 0.8 times P/NAV and is pegged to a 35% discount to RNAV after taking into account the group’s higher valuation as well as stake in Marina Centre Holdings (MCH).  

3 non-office REITs to tide investors through an uncertain 2019: OCBC

SINGAPORE (Mar 12): OCBC Investment Research is maintaining “neutral” on the Singapore REIT (S-REIT) sector with a preference for retail and hospitality REITs over their office counterparts for their comparatively conservative asset valuations.

This is because the research house believes optimism on further rental growth for office REITs in 2019 has likely been priced in and is set to moderate from the 14.9% growth in 2019, and thus has “more room for disappointment than an outperformance”.

OCBC keeps 'overweight' on Singapore hospitality sector as REITs rally

SINGAPORE (Feb 7): OCBC Investment Research is maintaining “overweight” on Singapore’s hospitality space as the sector’s REITs – namely CDL Hospitality Trusts (CDL HT), Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) – rally into the new year with total returns of +5.7%, +2.5% and +6.5%, respectively.

2019 will be a good year for hospitality, but risks from trade tensions remain: OCBC

SINGAPORE (Jan 16): OCBC Investment Research is maintaining “overweight” on Singapore’s hospitality sector as it sees value in some of the hospitality REITs under its coverage at their current unit prices.

OUE Hospitality Trust (OUE HT), Far East Hospitality Trust (FEHT) and Ascott Residence Trust (ART) are OCBC’s top “buy” picks with fair value estimates of 79 cents, 67.5 cents and $1.18, respectively.

Private previews held this week for SC Global's upcoming luxury development project in Niseko, Japan

SINGAPORE (Nov 29): SC Global Developments has launched a luxury hotel apartment residence in Niseko, Japan, beginning with private previews conducted in Singapore this week, with previews in Niseko officially starting in early Dec.

Named Setsu Niseko, the residence is slated for completion in 2021 and will feature 190 apartments spread over 2.54 acres of prime freehold land.

It marks SC Global’s first development project in Japan, where the company also owns a commercial building in Ginza, Tokyo.

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