Blackstone makes big investment in Singapore

Investment group Blackstone and Malaysia's CIMB Bank will invest in three Sentosa Cove properties in Singapore owned by City Developments (CDL), including the W Singapore hotel, in a complex transaction valued at S$1.5 billion, or around US$2 billion.

As reported by Channel News Asia, the investment in the Quayside Collection – comprising the W hotel, the Quayside Isle retail complex and the Residences at W Singapore – will be via an investment instrument called a Profit Participating Security (PPS) that will give investors a fixed payout based on 5 percent interest per annum for a period of five years, in addition to a participation in the cashflow over the period that they hold the PPS.

CDL Executive Chairman Kwek Leng Beng said: “This offers investors a rare opportunity to participate in the cashflow from high-quality assets in Sentosa Cove. By leveraging on the operating strength and solid cashflows of the Quayside Collection, we will be able to build and deploy capital for our global plans.”

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Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


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