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Sign in Sign up for a FREE subscriptionARA U.S. Hospitality Trust seeks $451m in Singapore IPO
ARA Group has plans to spin off $719.5 million of U.S. Hyatt-brand hotels into a business trust to be listed on the Singapore Exchange, confirmed multiple media outlets. ARA U.S. Hospitality Property Trust (ARA H-REIT) is seeking to raise $450.7 million.
If the listing is successful, it will be the first Singapore-based hospitality trust focused purely on the U.S. market.
The proposed ARA U.S. Hospitality Trust will comprise ARA H-REIT, which will hold and manage the hotel properties.
The business trust’s initial portfolio comprises 38 hotels, consisting of 27 Hyatt Place hotels and 11 Hyatt House hotels located in the United States, with a total of 4,950 hotel rooms.
