Blackstone late Thursday announced a binding agreement to buy eight hotels in Japan from Kintetsu Group Holdings, in the latest case of a US fund manager teaming with a Japanese conglomerate looking to raise cash and cut costs by offloading… Read More>>
Eagle Hospitality Trust Gets Initial Bid of $470M for Bankrupt Hotels
Eagle Hospitality Trust announced on Tuesday that a distressed-debt specialist had entered into a preliminary “stalking horse” agreement with entities holding 15 of its US hotel properties as the SGX-listed trust seeks an orderly disposition of the assets, which are… Read More>>
70% of Investors Eager to Invest in APAC Hotels This Year Says JLL
After a year in which hotel investment came to a virtual standstill as COVID-19 crushed international travel and tourism, 70 percent of investors in a recent survey now say they are keen to deploy capital in Asia Pacific hospitality assets… Read More>>
Eagle Hospitality Trust Hotels Declare Bankruptcy as Singapore REIT Collapses
Eagle Hospitality Trust took another step towards liquidation today as the Singapore-listed REIT revealed that 27 entities within its portfolio have filed for bankruptcy in the US.
In a filing to the SGX, DBS Trustee, which is looking after the… Read More>>
Singapore’s CDL Predicts 2020 Loss, Further Hotel Woes Next Year
In full-year guidance released Monday, City Developments Ltd said it expected the effects of the COVID-19 pandemic to continue into 2021 as the Singaporean developer predicted a loss for 2020.
CDL foresees its global hospitality segment, led by wholly owned… Read More>>
CDL Says It Will Offload Hotels After Hospitality Business Lost $155M in 2020 1H
Millennium & Copthorne Hotels Ltd has offered a glimpse of its recovery strategy after a 12-month period that witnessed an ill-timed privatisation, a sector-wrecking pandemic and boardroom upheaval.
After the hospitality division of Singapore-listed City Developments Ltd (CDL) reported a… Read More>>
Singapore’s Eagle Hospitality Trust Defaults on Texas Hotel Loans
The manager of Eagle Hospitality Trust delivered some scary news to shareholders just before Halloween, revealing to the Singapore stock exchange on Friday that it had received notices of default on loans linked to two of the properties in its… Read More>>
Eagle Hospitality Trust Directors Arrested in Singapore
The challenges of a Singapore-listed hotel trust escalated from financial problems to arrests this week as six current and former directors of Eagle Hospitality Trust were hauled in as part of a deepening investigation into its failures to make necessary… Read More>>
Pontiac Land JV for Mayo Clinic Hotel Felled by Coronavirus
The Trump administration’s failure to contain the coronavirus has claimed another victim this week, and this one is located in one of America’s most esteemed medical institutions.
The Mayo Clinic announced today that its joint venture with Singapore’s Pontiac Land… Read More>>
Hotel REIT AGM Stalls After Director Removed, Auditors Decline to Back Books
Hopes for reviving a troubled Singapore hotel REIT have dropped to their lowest setting as security holders in Eagle Hospitality Trust today rejected two of three board resolutions at its annual general meeting, including a motion to raise capital for… Read More>>
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