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CDL Hospitality Trusts acquires Munich hotel for $154 mil; launches $255 mil rights issue

Jude Chan Published on Tue, Jun 27, 2017 / 7:30 PM GMT+8

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SINGAPORE (June 27): CDL Hospitality Trusts (CDLHT) announced Tuesday that it has entered into an agreement to acquire a 94.5% stake in the Pullman Hotel Munich in Germany for €98.9 million ($153.8 million).

The 4-star Pullman Hotel Munich sits on two freehold land plots, and is located adjacent to the commercial district of “Parkstadt Schwabing”.

The business park is home to industry heavyweights like Accenture, Amazon, MAN Financial Services, and Microsoft.