By The Nation
SHREIT offers Thai investors a diversified portfolio of high-quality hotels in Southeast Asia that cater to tourists, businessmen and local guests.
Its professional managers are committed to generating maximum returns for investors, targeted in the first year at 7.67-7.72 per cent.
Patan Somburanasin, managing director of Strategic Property Investors, said the initial public offering was well received by retail and institutional investors who were confident the three hotel properties in which SHREIT has invested will generate consistent returns, since they will be managed independently from the properties’ sponsors.
“We are confident that, after SHREIT begins trading on the SET, it will be met positively by investors, because our three hotels are high-quality properties that are professionally run by the Accor Hotels and Frasers Hospitality groups. Strong fundamentals in regional trade, investment and tourism will further support the properties’ revenue growth,” Patan said.
SPI executive director James Lim explained that SHREIT’s initial assets include extendable freehold and leasehold rights in three hotels in the region, ranging from 3-5 stars, namely the Pullman Jakarta Central Park in Indonesia and the Capri by Fraser and IBIS Saigon South in Vietnam with a combined total of 632 guestrooms.