CS examines options for hospitality fund
Credit Suisse says it is currently reviewing various strategic options for CS REF Hospitality. A sale of sub-portfolios is also being considered.
Credit Suisse Real Estate Fund Hospitality (CS REF Hospitality) is currently in the process of repositioning. To drive this forward, various scenarios are being examined, including the sale of sub-portfolios, Credit Suisse Funds says. Further information will be available once the review process has been completed.
CS REF Hospitality invests primarily in convention centers, residential properties with hotel-like services, hotels, inpatient and temporary living arrangements, healthcare properties and residential properties in Switzerland. The fund has been listed on the SIX Swiss Exchange since 2012.
The annual report will be published at the end of March. According to the report for the first half of 2018, the fund had a portfolio of 38 portfolio properties worth around CHF 1.21 billion. Total income amounted to 52.17 million, while rental income was 51.91 million. In October 2018, the fund sold the luxury hotel Fairmont Le Montreux Palace in Montreux. (ah)
