Latest news with #ibisStyles
Scotsman
3 days ago
- Sport
- Scotsman
I visited the EURO 2025 hosts and was pleasantly surprised by what I saw
I went on a three-day trip to visit Switzerland ahead of EURO 2025 and was surprised by what I saw. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Forget what you think you know about Switzerland. While its mountains, cheese, and chocolate are legendary, the nation is also an unsung sporting powerhouse. This summer, Switzerland will make history as it hosts Women's Euro 2025. England arrive as defending champions, hoping to replicate their famous victory from three years ago, while Wales make their historic debut at an international tournament. It is a country, rich in history and unique multiculturalism, which will have something for everyone to enjoy. Advertisement Hide Ad Advertisement Hide Ad It can't be denied that Switzerland is one of the most expensive countries in Europe, but during our tour of the country with the renowned hotel brand ibis, we found that with higher cost, often came higher quality. It is also important to note that those with match tickets can access free public transport for a return journey from any Swiss locality to a stadium, which should offset some of those costs. The stunning streets of Switzerland | Rich Fay The trip started in Geneva, a cosmopolitan city known for its famous Lake and incredible mountains, as well as being the worldwide hub for diplomacy. There is a strong French influence given it is located so close to the border, with French and English both spoken widely, as well as a thriving gastronomical scene that draws inspiration from across the continent. We stayed at the wonderful ibis Styles Genève Carouge, officially a budget hotel, but with the personality of a boutique one. Every property in the ibis Styles range has a unique theme, with this particular branch inspired by comic books, an industry the country has a surprisingly rich history with. Whether you are in your room, the lobby, or the on-site bistro restaurant, you can enjoy excellent service, surrounded by bespoke artwork created by local artists, which makes the hotel so memorable and feel a lot more homely. It was located 10 minutes from the city centre and was easily accessible by a neighbouring tram stop, which ran with all the precision and accuracy you would expect from a country so famous for its timekeeping. It meant transport to the main train station was a simple procedure, which helped when we opted for an afternoon in the stunning city of Lausanne. Advertisement Hide Ad Advertisement Hide Ad The comic book inspired hotel lobby in Geneva | Rich Fay Lausanne sits on the northern tip of the lavish Lake Geneva, surrounded by mountains, forests and even vineyards, with the Swiss wine industry another fantastic, yet surprising, industry the country deserves more credit for. As with Geneva, there is a picturesque old town, with beautiful architecture around every corner, and an iconic gothic cathedral that dramatically rises above the rooftops. As with so many places in Switzerland, it is a wonderful mixture of both the old and the new, with this beautiful city also known as the Olympic Capital, as it is home to the International Olympic Committee headquarters, the Olympic Museum and Olympic Park. The museum is a must visit for anyone who has ever watched a single second of the games, with incredible exhibits and a jaw-dropping collection of memorabilia, such as a running shoe worn by Jesse Owens, a cycling jersey worn by Chris Hoy and an iconic outfit worn by Torvill and Dean. A set of medals from Paris 2024 at the Olympic Museum | Rich Fay Like with any European break, it is highly recommended to get a walking tour of the city. Back in Geneva, we explored the famous waterfront and charming cobbled streets, before we embarked on a train journey across the country to Zurich. Those who arrive for Euro 2025 will find it easy to navigate the country on punctual, clean and modern trains, with plenty of English signage that make it easy to follow. We stayed at the ibis Zurich City West, another affordable hotel in one of the up-and-coming greener districts of the city, that was once again so easily accessible by tram. It is an innovative development, which includes shared facilities with the sister hotel Novotel Zurich City West, meaning pool, sauna and gym access for a small daily fee, the incredible 'The Flave of Zurich' restaurant onsite and there is even access to an escape room that is hidden away in the hotel - perfect for an exciting excursion without even having to leave the premises. Advertisement Hide Ad Advertisement Hide Ad Zurich is the largest city in Switzerland, and it feels distinctly German, so you can swap your 'Merci' for 'Danke'. It is another global hub for banking and finance, yet what was so surprising was just how beautiful it was. With a rich pre-medieval history still visible today, you can get lost in the enchanting lanes of the Old Town, bask in the beauty of the Limmat River or indulge in the luxury shops that adorn almost every street corner. A display from the 2022 World Cup final between Argentina and France | Rich Fay Perhaps the highlight of the trip was the FIFA museum. It houses a treasure trove of historic football memorabilia, featuring engaging interactive exhibits and vibrant displays that commemorate every World Cup tournament. Upstairs, a dedicated section celebrates the evolution of football video games, offering many retro titles to play. The tour concludes with an interactive football workshop where visitors can participate in five different challenges to earn a spot on the leader board. Having built up an appetite, a visit to the renowned Zeughauskeller is highly recommended. Housed within an impressive 15th-century building featuring dark oak beams, this establishment offers rustic, hearty Swiss cuisine alongside an excellent array of local beers and wines. Traditional Swiss sausage and Rosti in Zurich | Rich Fay With a reliable transfer network, hospitable locals and the perfect blend of modern essentials mixed with historic beauty, Switzerland really has all the makings of a perfect host for a major football tournament. Advertisement Hide Ad Advertisement Hide Ad As any sports fan knows, the only thing that could spoil the experience is the football itself. However, if that happens, you can always take comfort in knowing that in 90 minutes, you'll be able to enjoy the beautiful country again.
Web Release
5 days ago
- Entertainment
- Web Release
NOVOTEL, MERCURE, IBIS STYLES, AND APARTHOTEL ADAGIO IN DEIRA LAUNCH BUDGET-FRIENDLY POOLSIDE EXPERIENCES FOR UAE RESIDENTS AND TRAVELERS
NOVOTEL, MERCURE, IBIS STYLES, AND APARTHOTEL ADAGIO IN DEIRA LAUNCH BUDGET-FRIENDLY POOLSIDE EXPERIENCES FOR UAE RESIDENTS AND TRAVELERS As the summer heat begins to rise and weekends call for relaxed urban escapes, Accor hotels offer the perfect excuse to rediscover Old Dubai — with poolside experiences that effortlessly blend exploration and leisure. With prices under AED 100, culturally rich locations, and menus designed for indulgent downtime, Deira is quickly becoming the go-to destination for GCC travelers and residents seeking a refreshing city break. Each experience is thoughtfully curated to suit different times of the day, whether you're starting your morning with a poolside escape before exploring the city or winding down your afternoon with a rooftop dip and dinner. Expect sunrise swims, leisurely lunches, golden-hour cocktails, and family-friendly brunches, all set in an atmosphere where heritage meets hospitality. Lunch with a Rooftop View – Mercure Dubai Deira Located in the heart of Deira's heritage zone, Atmos Rooftop Lounge offers a day-to-afternoon experience that includes access to the hotel's rooftop pool and a curated lunch menu. Overlooking the city's historic district, the space offers an elevated yet accessible escape. With unlimited beverages and shaded loungers, it's ideal for those looking to unwind without leaving town. Price: From AED 69 (soft beverages), AED 139 (house beverages) Time: Daily, 12:30 PM – 5:00 PM Location: Mercure Dubai Deira, Al Yazia Plaza | ? +971 50 281 9413 Child Policy: Children below 6 years dine for free Sunset Dinner & Pool – Mercure Dubai Deira As the sun sets, Atmos transforms into a relaxed dinner spot, offering guests a three-course meal with continued pool access. Ideal for couples and small groups, this evening experience combines skyline views with a generous menu and ambient lighting, all priced for easy spontaneity. Price: From AED 79 (soft beverages), AED 139 (house beverages) Time: Daily, 6:00 PM – 10:30 PM Location: Mercure Dubai Deira, Al Yazia Plaza | ? +971 50 281 9413 Child Policy: Children below 6 years dine for free Breakfast by the Pool – ibis Styles Dubai Deira Set beside a quiet pool deck, Lily's Garden at ibis Styles offers a generous breakfast buffet featuring live egg and pancake stations, fresh pastries, unlimited juices, and specialty coffee. At just AED 45 — inclusive of pool access — this weekday-to-weekend offer is perfect for early risers, digital nomads, and families alike. Price: AED 45 per person Pool Access: 8:00 AM – 12:00 PM Breakfast Timing: 6:30 AM – 10:30 AM Location: ibis Styles Dubai Deira, Maitha Plaza | ? +971 54 793 0509 Child Policy: Children below 6 years dine for free Global Breakfast Experience – Aparthotel Adagio Dubai Deira World of Curries presents a globally inspired breakfast featuring Indian, Arabic, and Western dishes, unlimited juice and tea, and pool access – all for under AED 50. Enjoy a culturally rich start to the day, framed by the tranquil rooftop setting of Aparthotel Adagio's boutique hotel. Price: AED 45 per person Pool Access: 8:00 AM – 12:00 PM Breakfast Timing: 6:30 AM – 10:30 AM Location: Aparthotel Adagio Dubai Deira, Afra Plaza | ? +971 54 793 0509 Child Policy: Children below 6 years dine free; ages 6–12 receive 50% off All-Day Dining & Pool Access – Novotel Dubai Gold District At Aqua Pool Bar, guests can enjoy breakfast, brunch, lunch, or dinner paired with pool access and buffet-style dining. With live cooking stations and shaded loungers, it's an ideal setting for long, leisurely afternoons or relaxed business lunches, all set against the backdrop of Dubai's historic trading zone. Price: From AED 49 (breakfast) | AED 89 (brunch/lunch/dinner) Pool Access: 8:00 AM – 6:00 PM Location: Novotel Dubai Gold District | ? +971 54 793 0509 Child Policy: Children below 6 dine free; ages 6–12 receive 50% off
Hospitality Net
11-06-2025
- Business
- Hospitality Net
Accor surpasses 100 hotels in Spain
Madrid – Accor, a world leading hospitality group, continues to bolster its leadership position in Europe and expansion across Spain by surpassing 100 hotels through several important openings across the country. The latest additions are part of the Group's strategic expansion plan in Spain including its diverse portfolio of brands – from economy to luxury and lifestyle – and its commitment to grow in both sought-after as well as emerging destinations across the country. Accor achieved the 100th hotel mark with the opening of ibis Styles Madrid Airport Valdebebas, the largest ibis-branded hotel in Iberia with 260 rooms, a restaurant and 24-hour snack bar, as well as a rooftop pool and lounge with panoramic views over the city. With stylish interiors inspired by the children's novel Alice in Wonderland, the hotel is located opposite Adolfo Suárez International Airport, as well as a few minutes from IFEMA congress centre and Real Madrid's training ground. Much like Spain's rich and diverse landscape and culture scene, our portfolio of brands reflects the breadth of opportunities we see in this dynamic market, not just in established hotspots, but also in many vibrant and emerging destinations. This important milestone is a testament to our commitment to expanding our presence in the country. The potential of the hospitality sector in Spain is huge and we believe this is just the beginning of what can be achieved. Karelle Lamouche, Accor's Chief Operating Officer for Europe and North Africa Some of Accor's latest additions in Spain include: Fairmont La Hacienda Costa del Sol– Set on the Mediterranean coast of Cádiz, within the prestigious Costa del Sol, this exceptional resort combines Andalusian charm with contemporary elegance. Opened earlier this year, the hotel offers 153 rooms and suites plus 47 private villas, each thoughtfully designed with artisanal details and a modern aesthetic. Bright, open interiors feature light woods, organic textures, and warm neutral tones that reflect the soft glow of the Andalusian sun. With incredible, uninterrupted views of the Mediterranean Sea, Fairmont La Hacienda offers a truly exclusive destination in southern Spain. SLS Barcelona – Marking the brand's European debut, Ennismore's newest SLS is located in the waterside district of Port Fòrum. It features an undulating façade that emulates the waves of the sparkling Mediterranean Sea and offers 471 lavishly appointed rooms and suites, six distinct restaurant and bar concepts, three pools, a spa, and extensive events space culminating in a spectacular ballroom. Novotel Valencia Lavant – Centrally located in Valencia, near the iconic Palacio de Congresos, this new hotel features 370 rooms boasting sophisticated interiors designed by the internationally renowned Sundukovy Sisters. Set over 11 floors, a key property feature is the stunning two-level rooftop pool bar and terrace. Guests and locals can indulge in a sophisticated culinary experience at Papúa Valencia, the hotel's on-site restaurant that offers local as well as international delicacies. Business travellers can benefit from extensive coworking spaces and 11 versatile meeting rooms. ibis Styles Santander – This newly opened hotel is inspired by Santander's natural beauty, beaches and cultural scene. With direct access to the city centre through intricate gardens, the hotel includes all-day dining options and a fitness centre, as well as easy connection to the airport and the port. The hotel is the perfect getaway for those looking to combine urban charm with nature. ibis budget Madrid Albasanz – The newly built 99-room hotel will open this month and will be set in a vibrant area of Madrid, close to the Metropolitan Stadium and just a few minutes from the downtown area. The hotel offers single, double and triple rooms for families, as well as private parking and a full breakfast buffet. ibis Madrid Norte Las Tablas – Expected to open in July, this hotel will be located in the north of Madrid and will feature multifunctional interiors combining both work and relaxation. The hotel will offer 148 rooms over five floors, a modern lobby and a vibrant dining area. greet Alicante – Expected to open at the end of 2025, this hotel will be the first under the greet brand in Spain. With affordability and convenience at its core, the new hotel will feature furniture and décor made of repurposed materials, in line with the brand's focus on circular hospitality. Other Accor brands present in Spain include Mercure, Pullman, Sofitel, and from Ennismore, SO/, The Hoxton, Hyde and Mondrian. Guests staying at the Group's hotels in Spain and around the world can enjoy a wide variety of rewards, services and experiences as part of ALL Accor, a booking platform and loyalty programme that enhances the experience during and beyond each hotel stay. About Accor, a world-leading hospitality group Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, wellness facilities and flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing around 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. ALL, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay and gives its members access to unique experiences. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity. Accor's mission is reflected in the Group's purpose: Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. Founded in 1967, Accor SA is headquartered in France. Included in the CAC 40 index, the Group is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit or follow us on X, Facebook, LinkedIn, Instagram and TikTok. Laura Díaz Accor
Hospitality Net
20-05-2025
- Business
- Hospitality Net
ibis Bolsters European Foothold with New Addresses across the Region, Including the First ibis Styles in Estonia
ibis, the pioneer of accessible high-quality affordable accommodation with over 2,500 hotels throughout nearly 80 countries around the world, continues its growth trajectory across Europe, with new properties under its ibis, ibis Styles and ibis budget brands. Recent openings span Germany (Berlin and Neckarsulm), Spain (Madrid) and Belgium (Hasselt), with upcoming additions in Hungary (Debrecen), Poland (Katowice) and the United Kingdom (York). The latest growth milestone also marks the debut of the ibis Styles brand in Estonia with a stylish hotel in the heart of Tallinn. Since its launch in 1974, ibis has been at the forefront of democratising travel, offering comfort, reliability and great design at an accessible price. Over the past fifty years, the brand has evolved into three sub-brands – ibis, ibis Styles, and ibis budget. With its unique and adaptable designs, fresh food and drink concepts and heartfelt service, ibis continues to attract new generations of travellers, bringing its original vision of hospitality to life. True to the ibis' spirit of 'Go get it', we welcome guests at our 2,500+ hotels so they can discover the world with purpose and intent. ibis continues to demonstrate its promise of reliability of what matters for the value-minded traveller. These latest additions show the attractiveness of ibis to our guests and partners, who value and trust the forward-thinking spirit of a leading economy brand. Florence Liger-Tourres, Vice President Marketing Economy Brands, Accor Europe & North Africa Opened earlier this month after an extensive renovation of the former L'Ermitage Hotel Tallinn, ibis Styles Tallinn is located closed to the city's medieval Old Town and its creative district, allowing guests to experience both the historic charm and the moder buzz of the capital. The hotel's 122 guest rooms and communal areas feature black and white tones and wall art that celebrate the art of photography throughout. Guests of the new hotel as well as locals can visit the on-site FOCUS restaurant, which serves seasonal Estonian recipes in colourful settings. Other amenities include a breakfast area and a conference room for up to 70 guests. Other ibis branded additions in Europe include: ibis Styles Madrid Airport Valdebas (Spain) – Opening in June, the hotel is the biggest ibis-branded family hotel in Iberia, offering 260 rooms, a restaurant, 24-hours snack bar, pool and rooftop with a lounge bar. Located in the heart of Valdebebas, the hotel is just a few minutes from IFEMA, as well as Real Madrid's training ground, the Alfredo di Stéfano stadium, as well as the Atlético de Madrid's Metropolitano stadium. ibis budget Madrid Albasanz (Spain) – Just a few minutes from the city centre, guests of this new hotel will enjoy the easy connection to Barajas Adolfo Suarez Airport, IFEMA fairgrounds and Wanda Metropolitano Stadium. Slated to open in June, the hotel will offer 99 rooms featuring the new REBOOST design, as well as full buffet breakfast and a snack bar. ibis and ibis budget Berlin Airport (Germany) – Just a few minutes from Berlin Brandenburg Airport Terminal 1, the sister hotels ibis and ibis budget Berlin Airport offer guests 114 rooms each, featuring the latest design concepts of both brands and equipped with the comfortable Sweet Bed by ibis™. Perfectly tailored to the needs of airport guests, the dual hotel provides a shared lobby with extra-early hours breakfast service and café, as well as convenient Park&Fly options for travellers. ibis Styles Neckarsulm (Germany) – Following an extensive renovation project, the latest ibis Styles address in Germany features a unique design that blends the world of motorsport with regional winemaking history. The hotel includes 97 rooms, a breakfast area and bar, a fitness studio, in addition to a meeting room for up to ten guests. Located in northern Baden-Württemberg, Neckarsulm, is known for its rich winemaking tradition and is home to some of the oldest winegrowers in the country. ibis budget La Rochelle Puilboreau (France) – Perfectly suited for both leisure and business travellers, this new hotel offers guests 76 modern rooms featuring the latest brand's design concept for a comfortable stay. The hotel is the perfect gateway to explore the historic city of La Rochelle, known for its picturesque harbour and rich maritime heritage, as well as the beautiful beaches and charming villages of the Île de Ré. ibis Styles York Centre (UK) – Themed around brewing and distilling as nod to the history of its building, the hotel is located in one of the UK's most historic cities with a thriving cultural scene. It offers 110 comfortable rooms, as well as a restaurant and bar that reflects the property's storytelling with beloved British classics. ibis budget Arlon Porte du Luxembourg (Belgium) – Located in the heart of the Belgian Ardennes in the quaint historical town of Arlon, the hotel is ideal for relaxing and taking in nature with several picturesque trails within walking distance. It offers 70 modern keys including several family rooms equipped with the brand's popular bunk bed concept. ibis Styles Hasselt (Belgium) – This newly opened hotel offers guests 91 well-appointed rooms and easy access to the vibrant city of Hasselt, known for its rich cultural heritage and lively atmosphere. The storytelling of this hotel is based on the first expedition that wintered in the Antarctic in human history, led by a Belgian naval officer. Guests can enjoy a delightful breakfast at the hotel's restaurant before exploring the city's attractions, including a great mix of parks, museums and shopping districts. ibis Styles Debrecen Airport (Hungary) – Set to open this summer, the newly built hotel will be conveniently located in Debrecen International Airport, the second biggest airport in Hungary, and in close proximity to major highways. The hotel will offer 72 comfortable rooms and 16 apartments, a restaurant and bar, as well as a meeting room for up to 25 persons. The new hotel will feature an aviation theme and even a real airplane wing. ibis Styles Katowice Airport (Poland) – This hotel is slated to open next month and will offer 75 stylish rooms and a range of amenities, all located within the city's international airport. Guests will be able to unwind at the hotel's bar and restaurant and access a well-equipped fitness centre to stay active during their travels. Guests staying at ibis branded hotels can enjoy a wide variety of rewards, services and experiences as part of ALL, Accor's renowned booking platform and loyalty programme that enhances the experience during and beyond each hotel stay. About Accor, a world-leading hospitality group Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, wellness facilities and flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing around 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. ALL, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay and gives its members access to unique experiences. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity. Accor's mission is reflected in the Group's purpose: Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. Founded in 1967, Accor SA is headquartered in France. Included in the CAC 40 index, the Group is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit or follow us on X, Facebook, LinkedIn, Instagram and TikTok. Tamara Schwarz-Speckbacher Media Relations & PR DACH, Nordics, and Baltic States Accor View source
Straits Times
28-04-2025
- Business
- Straits Times
CapitaLand Ascott Trust gross profit rises 4% in Q1
Gross profit from new properties, such as ibis Styles Tokyo Ginza, replaced the drop in gross profit from divestments in 2024. PHOTO: CAPITALAND ASCOTT TRUST SINGAPORE - CapitaLand Ascott Trust's (Clas) managers said in a business update on April 28 that the trust's gross profit rose 4 per cent year on year in the first quarter of 2025. Gross profit from new properties in the quarter replaced the drop in gross profit from divestments in 2024, the managers said, driven by stronger performance from properties the trust renovated in 2024. These new properties include lyf Funan Singapore, acquired on Dec 31, 2024, as well as Japan hotels ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, both bought on Jan 31, 2025. Seventy per cent of profits in the quarter were from stable income sources, the managers said, with the remaining 30 per cent from growth income sources. Such stable income sources included management contracts of longer-stay properties such as rental housing and student accommodation, as well as master leases and management contracts with minimum guaranteed income. Growth income was largely contributed by management contracts of hospitality properties. Excluding acquisitions and divestments, Clas's gross profit was 1 per cent higher on a same-store basis, said the managers. In most key markets in the trust's portfolio, revenue per available unit (RevPAU) for Q1 2025 grew year on year, with its Australia, Singapore, United Kingdom and United States (US) portfolios registering growth of between one and 12 per cent. Its Japan portfolio, however, registered an 11 per cent contraction on the year. In the US portfolio, making up 19 per cent of the trust's total assets, hotel RevPAU in the quarter climbed 11 per cent on the year to reach US$160, driven by strong leisure demand, an increased proportion of corporate bookings, as well as long weekends and major conventions. While negative sentiments towards the US might dampen international leisure travel, the managers said that a higher proportion of domestic guests would mean the trust's hotels remain less affected. The trust's Singapore portfolio, which made up a further 19 per cent of total assets, saw serviced residences (SRs) and hotel RevPAU in the quarter inch upwards by 1 per cent year on year to S$183. On a same-store basis, however, RevPAU fell 3 per cent year on year. This fall was due to fewer high-profile concerts, such as the one by Taylor Swift, or biennial events, such as the Singapore Airshow, under the meetings, incentives, conferences and exhibitions category that took place in Q1 2024, Clas's managers said. The portfolio's performance was nevertheless mitigated by stronger operating performance from The Robertson House by The Crest Collection and long stays at SRs. The managers expect that demand for corporate and relocation stays for the Singapore portfolio will be subdued in the second quarter of 2025, while transient demand could see an uplift during concert and event periods. In Japan, the trust's managers noted that the acquisition of two Japan hotels, ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, would fully replace the income of four divested properties in the Japanese portfolio. The acquisitions would bring an accretive growth of 1.6 per cent to dividend per share on a pro forma basis from FY 2024, while raising blended net operating income by 4.3 per cent. The managers noted that these hotels would be supported by leisure and business demand drivers, with ibis Styles Ginza Tokyo located in Tokyo's shopping and entertainment district, while Chisun Budget Kanazawa Ekimae is situated in a popular site for domestic travel. The trust reported a gearing ratio of 39.9 per cent, with an interest coverage ratio of 3.2 times. The trust said it is monitoring recent volatility and reviewing options for its S$250 million perpetual securities, which reset on June 30, 2025, with a view towards managing its capital structure. Recent macroeconomic uncertainties are likely to impact Clas through raised costs, lower lodging demand and volatility in interest rates and foreign currencies, the managers said. Even so, the trust's diversified portfolio and its stable income sources, which comprise 60 to 70 per cent of gross profit, could mitigate this effect, Clas's managers said. Net asset value per stapled security was at $1.11, with total available funds standing at around $1.43 billion, said the managers. The counter fell 1.2 per cent or 1 cent on April 28 following the announcement, reaching 84.5 cents at 10 am. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
