Published:
Langham Hospitality to do Hong Kong IPO
Intends to raise some US$700 million.
Based in Hong Kong, Langham Hospitality Investments plans to start trading late next month.
The trust is being supported by hotels including The Langham, Langham Place Hotel and Eaton, all located in Kowloon. The hotels have a combined 1,629 guest rooms.
Citigroup Inc., Deutsche Bank AG and HSBC Holdings Plc are managing the offering, sources said.
Langham Hospitality boosted operating profit by 14.5% to US$65 million last year while revenue increased 8.9% to US$206 million as occupancy rates improved.
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