Far East Hospitality Trust has acquired a 319-room upscale hotel in Japan for JPY6bn (€38m), marking its first investment outside Singapore.
It bought Four Points by Sheraton Nagoya, Chubu International Airport which is situated in Greater Nagoya.
The company said following the acquisition, Far East H-Trust’s investment strategy will expand globally and include adjacent lodging asset classes to diversify its geographical footprint and reduce concentration risks.
Gerald Lee, CEO of FEO Hospitality Asset Management Pte Ltd, the manager of Far East Hospitality Trust, said while this acquisition represented an exciting new growth opportunity, Singapore remained the core market and foundation of our long-term strategy.”We remain committed to strengthening the trust’s existing portfolio.”
Far East H-Trust, currently owns nine hotels and three serviced apartment buildings in Singapore, valued at more than S$2.5bn of 31 December 2024.
To read the latest IPE Real Assets magazine click here.
