gic-enhances-focus-on-hospitality-sector

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 will initially have equity commitments from the partners of up to $600 million. Including leverage, the total investment which the joint venture can make will be between $1.5 and $2 billion.

A Host affiliate will...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222