GIC enhances focus on hospitality sector

GIC Real Estate and US-based hospitality company Host Hotels & Resorts create a joint venture to invest up to $2 billion in hotels in the Asia-Pacific region.

Investment management company GIC Singapore has joined hands with Host Hotels Resorts for a second joint foray into hospitality, this time to explore investment opportunities in Asia and Australia.

The Government of Singapore Investment Corporation GIC and US-based hotel operator Host Hotels Resorts will set up a Singapore company to invest in Asia and Australia. GICÆs real estate investment arm, GIC Real Estate, will own 75% and Host will own 25% of the joint venture company. The JV...

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