ARA US Hospitality Property Trust buys 119-room hotel in Colorado Springs

ARA US Hospitality Property Trust has plans to acquire the three-star Home2 Suites by Hilton Colorado Springs South hotel near the U.S. Army’s Fort Carson base in Colorado, according to a filing with the Singapore Exchange.

The seller is a franchisee named CH Tenderfoot Hill.

The sales price for the recently built select-service, extended-stay hotel was $29 million. Chartwell Hospitality is the current manager of the property.

The year-to-date occupancy and average daily rate as of October 2022 were 83.7 percent and approximately $164, respectively, with revenue per available room (RevPAR) of approximately $137, outperforming the Colorado Springs market, sub-market and its competitive set.

“Colorado Springs is at the center of the Rocky Mountain recreation activities and is a popular