Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) have announced a proposed combined entity which will be the largest hospitality trust in Asia Pacific, the eighth largest globally, with an asset value of S$7.6 billion.

The transaction brings together Ascott Reit’s serviced residence portfolio and A-HTRUST’s 14 quality hotels in Asia Pacific, resulting in a portfolio of 88 properties with more than 16,000 units in 39 cities and 15 countries globally.

Image: Citadines South Kensington London is one of Ascott Reit’s 74 properties globally.

News release_Ascott Reit and A-HTRUST enter combination deal