ARA US Hospitality Trust (ARA H-Trust) has completed the acquisition of three US hotels for US$84 million, its managers said in a bourse filing on Monday. The freehold properties are AC by Marriott Raleigh North Hills in North Carolina, as well as Courtyard San Antonio and Residence Inn San Antonio both in The Rim shopping district in Texas. Parties agreed on a final price of US$84 million, which is...
ARA US Hospitality Trust
ARA US Hospitality Trust launched an initial public offering in Singapore on Thursday to raise about US$451 million, for what would be the first new mainboard listing on the local bourse this year. The trust, which owns a portfolio of 38 US hotels, has set an offer price of 88 cents apiece, according to the float prospectus. It has secured commitments for US$116.5 million worth of the shares on offer...