Ascendas is the new owner of The Esplanade Hotel
Singapore-based Ascendas bought Australian The Esplanade Hotel for AUD 90 million reported in CommercialAsia news. This is not the “only hotel acquired by Ascendas. Last year, the property firm also acquired the entire Mirvac hotel portfolio, operated by French management group Accor, for AUD 327 million.
Ascendas’ acquisitions follow significant investor interest in Australia’s property sector coming from overseas, especially from Asia.”
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