Ascendas Looks At Japan Hotel Acquisitions
Ascendas Hospitality Trust is looking at investments in Japan according to its chief executive officer, Tan Juay Hiang.
Ascendas is based in Singapore with one hotel in Japan among 10 hospitality assets under its portfolio. The company will focus acquisitions in business hubs including Osaka, Tokyo, Fukuoka as according to a statement issued by the firm's CEO.
Tan also added that the hotel industry will become very lucrative after the yen's decline against the US dollar. This will make traveling to Japan less expensive making way for more tourists to visit the country.
According to the trust, it has raised an initial public offering last year amounting to US$546 million. The move seeks to widen the portfolio of the company by adding assets in Japan. It also seeks to expand by adding hotels in South Korea, Hong Kong and Singapore, still according to Tan.
Tan said yesterday that Japan is definitely looking more attractive as Abenomics is pulling its way up.