With a yield of 9.06%, it is one of the highest yielding hotel REIT. Only Frasers Hospitality Trust can match its yield. Moreover, the price-to-book ratio also suggest that we are buying at 17% discount to valuation price which I thought was quite favourable. (Info is before rights issue) Gearing is at 42.5%.
I am unable to aggregate the information as they merge the earlier acquisition of Crowne Plaza Changi Airport together with the extension which painted a slightly different picture from now. It looks like they are raising more cash and less debt so I am not really sure about their final yield and NAV which is quite a pity. Since they are raising more cash, I assume their yield will be at least the same or else the acquisition will not be beneficial to shareholders. Discount to NAV may drop but trading price should still stay below NAV.
I have been quietly looking at this REIT for some time and I think this is a good time to invest for long term. Will be investing in it.