Pavilion-REIT’s hotel buys to enhance profit

Quick Summary:

PETALING JAYA: Pavilion Real Estate Investment Trust’s (Pavilion-REIT) acquisition of two hospitality assets is set to spur the group’s earnings from the financial year ending Dec 31, 2026 (FY26) onwards.

The hotels have been operated and managed by Banyan Tree Hotels & Resorts Pte Ltd, a part of Singapore-listed Banyan Tree Holdings Ltd, since their opening in 2018.

According to Pavilion-REIT, BTKL and PHKL had consistently achieved average occupancy rates of 83% and 82.2%, respectively, up to Sept 30, 2024.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSingapore

Topics: Hospitality Banyan Tree Property /Business/Business News Acquisition Pavilion Hotel Pavilion REIT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 00:00:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 537 words

Reading Time: 3 minutes read

Sentences: 13 lines

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Copyright Owner: © The Star

News ID: 24246515

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