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Singapore Wealth Fund Eyeing Trophy Hotel Assets

Category: Hotels, Posted:19 Jun 2010 | 06:00 am

One of the world's leading SWF (Sovereign Wealth Funds ) the Singapore Government Investment Corporation (GIC) is reported to be in the running for the high profile London Grosvenor House Hotel.
Recently back of the global financial crises long standing trophy assets such as the Raffles hotel came into the market and was snatched up by the Qatar Investment Authority's Qatari Diar.
Another SWF the China Investment Corp. (CIC) invested UDD600 million in 2009 in a global real estate fund managed by Morgan Stanley which includes hotel grade assets.
One of the key drivers of the current transaction market is the unique once in a lifetime chance for many hotel buyers to acquire a legacy hotel that in many cases is more of a showpiece then a strictly bottom line driven investment.

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