Great Eagle begins marketing for hotel trust spin-off

Langham Hospitality trust is seeking to raise up to $700 million by selling as much as 49% of the trust to yield-focused investors, sources say.

Great Eagle Holdings looks set to become the first Hong Kong property investor and developer to spin off some of its hotel assets through a separate listing after bankers kicked off a two-week investor education process yesterday.

The company, which is controlled by local tycoon Lo Ka Shui, will tap into the current appetite for yield by putting its three Hong Kong hotels into a dividend-paying trust under the name of Langham Hospitality Investments Group....

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