Community living operator Assembly Place Holdings (SGX:TAP) has launched a new brand in the premium capsule hostel segment, named Gather House, according to a Friday filing with the Singapore stock exchange.
Gather House, which is the company's eighth brand, will be completed in a phased manner comprising 132 beds upon full completion. The company will introduce 72 beds in the first phase and 60 beds in the second phase.
Following the soft launch of the new brand in early August, the first phase of Gather House has achieved occupancy of above 90%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.