Eagle Hospitality Trust IPO Prospectus & Summary

 

 

Eagle Hospitality Trust

EHT is a hospitality stapled group comprising EH-REIT and EH-BT.

EH-REIT is a Singapore-based real estate investment trust (“REIT”) established with the principal
investment strategy of investing on a long-term basis, directly or indirectly, in a diversified portfolio
of income-producing real estate which is used primarily for hospitality and/or hospitality-related
purposes, as well as real estate-related assets in connection with the foregoing, with an initial
focus on the US.

For the purposes of this Prospectus, real estate used for “hospitality” purposes includes hotels,
serviced residences, resorts and other lodging facilities, whether in existence by themselves as
a whole or as part of larger mixed-use developments, which may include commercial,
entertainment, retail and leisure facilities.

The REIT Manager is indirectly 51% owned by Howard Wu and 49% owned by Taylor Woods.
Howard Wu and Taylor Woods are the co-founders of the Sponsor (collectively, the “Founders”
and each, a “Founder”) and they each own 50% of the common equity interests in the Sponsor.
EH-BT is a Singapore-based business trust which will be dormant as at the Listing Date. The
Trustee-Manager is indirectly 51% owned by Howard Wu and 49% owned by Taylor Woods.
EHT is a US hospitality specialist with an invested Sponsor and a portfolio of full service hotels
in the top US markets.

See related news below:

Eagle Hospitality Trust prices IPO at US$0.78 per stapled security

  • Type = US Hospitality Sector
  • Sponsor = Urban Commons, LLC (Owners Howard Wu & Taylor Woods aggregate 15.2% of Eagle Hospitality Trust)
  • REIT Manager: Howard Wu (51%) & Taylor Woods (49%)
  • Total Unit Offered = 580,558,000
  • Portfolio = 18 Hotel in US (across 21 states, 5420 rooms)
  • Portfolio Size = US$1.27 Billion
  • IPO Offer Price = US$0.78
  • NAV per unit = US$0.88
  • Price / NAV = 0.8863
  • Distribution Yield = 8.2% (2019), 8.4% (2020)
  • Distribution Policy = 100% for 2019. 90% for 2020. Semi Annual Payout.
  • Occupancy Rate = 73.6% (2018), 78.5% (2019 Forecast), 76.8% (2020 Forecast)
  • Gearing Ratio = 38.0%
  • WADM = 4.2 Years
  • Offer Closing Date: May 22, 2019 at 12:00pm
  • Listing Date: May 24, 2019
  • Eagle Hospitality Trust IPO Prospectus

 

Compare to other Singapore REITs here.

New IPO is Coming! US-Based Eagle Hospitality Trust

Singapore could soon see the listing of its very first US hospitality pure-play real estate investment trust (REIT). Eagle Hospitality Trust is preparing to lodge its prospectus with the Singapore Exchange (SGX), according to FinanceAsia.

Read more detail here

https://www.theedgesingapore.com/us-based-eagle-hospitality-trust-swoops-singapore-listing

 

Summary of Eagle Hospitality Trust 

  • Portfolio Value: US$1.27 billion (20 hotels under the Marriot, Hilton and InterContinental brands)
  • Price/NAV: 0.9 to 1.0
  • Distribution Yield: 7%-7.5% (2019), 7.3%-7.9% (2020)
  • Gearing Ratio: 36% (75% Fixed Debt at 4.2% average cost)

Wait for more information after the IPO prospectus is lodged.

See other Singapore REITs for comparison here.

Singapore REIT Fundamental Analysis Comparison Table – 1 April 2019