FRASERS yesterday lodged a preliminary prospectus for its hospitality trust, claiming to be the largest global hospitality portfolio to be listed in Singapore by number of rooms.
Encompassing 1,928 hotel rooms and 842 serviced apartments in Singapore, Australia, the UK, Japan and Malaysia, the hospitality stapled group comprises FH-REIT and FH-BT.
Parent company Frasers Centrepoint (FCL) is expected to raise S$365.2 million (US$292.3 million) from FHT’s IPO. It is injecting six serviced residences into FHT, which is to be listed in July.
Majority shareholder in Frasers Centrepoint, TCC Group, will also inject six hotels including InterContinental Singapore and The Westin Kuala Lumpur to bring the REIT to a total worth of S$1.7 billion.
FHT’s portfolio of right-of-first-refusal (ROFR) assets located across North America, Asia, Australia and Europe through FCL and TCC as well as other third-party properties means that geographical coverage could expand further.
According to The Business Times, Frasers Hospitality Global (FHGL) was set up in October last year to invest in projects outside the serviced residences niche, which could include retirement villages.
Last year, it acquired an office building in Brisbane’s CBD and is converting it into Capri Brisbane, while last month, it bought Sofitel Sydney Wentworth.
Separately, Frasers Hospitality is building a hotel residence in Frankfurt, rebranding a hotel in Barcelona under the Capri by Frasers brand, and undertaking due diligence in Berlin, Hamburg and Italy for more hotel residences.
Read our View From The Top with Frasers Hospitality CEO Choe Peng Sum
