Ascendas Hospitality Trust in talks to sell stake in Pullman Cairns hotel

The hotel is valued at $73m.

Ascendas Hospitality Trust yesterday revealed that it has entered preliminary discussions with a number of parties on the potential divestment of its 50% stake in Pullman Cairns International.

Pullman Cairns is the largest five-star hotel in the Central Business district of Cairns, Australia. It has 321 guest rooms and is valued at $73 million.

The potential divestment is in line with the company’s capital recycling strategy. However, Ascendas Hospitality Trust also warned investors that there is no assurance that any definitive or binding agreements or any transaction will result from the discussions.  

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!