ARA Asset Management enters U.S. with purchase of 38-hotel portfolio

The Hyatt Place Baton Rouge, La. Photo credit: Hyatt Hotels & Resorts

Singaporean real estate investment trust ARA Asset Management acquired a portfolio of 38 select-service hotels across 21 U.S. states. The portfolio consists of hotels within the Hyatt Place and Hyatt House brands.

The acquisition is ARA’s debut in the U.S., and a dollar figure for the transaction was not disclosed. The company will open a new Dallas office to lead its U.S. operations. From this location, ARA will provide investment, asset management, business development and other services.

"We will look at injecting this quality portfolio into our growing REITs (real estate investment trusts) and private fund platforms in the near future as part of our multiplatform, multiproduct global fund management strategy,” John Lim, group CEO of ARA, said in a statement.


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

ARA was purchased and delisted in 2017 prior to its entry into the U.S. hotel sector.The company is one of the largest REITs in Asia, and directly manages Fortune Reit, Suntec Reit, Cache Logistics Trust, Hui Xian Reit, Property Reit and several REITs in Japan and Australia through a number of associate organizations. 

With this latest acquisition, ARA expands its global footprint to 99 cities in 21 countries.

“We are confident of the U.S. hospitality sector, particularly in select-service hotels, where entry yields remain attractive,” Lim said.

Suggested Articles

Even Hotels, Hampton by Hilton, SureStay Hotels by Best Western and Fairfield by Marriott saw new locations open in the Peach State.

British hotels to adopt ‘points-based’ system for continental holidaymakers, according to Robin Sheppard

Edyn has acquired a site forming part of the University of Cambridge’s development of Eddington, which will become the latest location for its boutiqu