Lt Land-backed LT Rubicon to acquire hotels in the ASEAN region from SHREIT for $118m.

Lt Land-backed LT Rubicon to acquire hotels in the ASEAN region from Strategic Hospitality Extendable Freehold and Leasehold, a real estate investment trust, for $118m. SHH own three assets in the ASEAN region under the management of the investment trust. These are 5-star Pullman Jakarta Central Park with 317 rooms located in the western Jakarta, Indonesia; 4-star Capri by Fraser with 175 rooms and 3-star IBIS Saigon South with 140 rooms in Ho Chi Minh City, Vietnam. The hotels are professionally managed by internationally recognized and respected hotel chains.