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Starwood Capital, Fosun Said to Consider Offers for Ascendas

  • Suitors weigh bids for S$844 million Singapore hotel trust
  • Australian assets draw interest on currency, record tourists
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Starwood Capital Group, the property investment firm, and Chinese billionaire Guo Guangchang’s Fosun International Ltd. are weighing bids for Ascendas Hospitality Trust, people with knowledge of the matter said.

Starwood Capital, which manages about $45 billion of assets, and Fosun are studying the Singapore-based hotel owner and could submit offers as early as the end of January, the people said, asking not to be identified as the information is private. Blackstone Group LP and Hong Kong’s Gaw Capital Partners have also been considering bids for Ascendas Hospitality, which has a market value of S$844 million ($588 million), people with knowledge of the matter said earlier this month.