Hyatt House Shelton is a 127-room hotel that’s located on freehold land in Shelton, Connecticut. It began operations in 2010 and was last renovated in 2017. The 131-room Hyatt House Philadelphia Plymouth Meeting is an extended-stay hotel that’s located on freehold land in East Norriton, Philadelphia. It first opened its doors in 2000 and was last renovated in 2016.
The managers of ARA US Hospitality Trust (SGX:XZL
) have agreed to sell Hyatt House Shelton and Hyatt House Philadelphia Plymouth Meeting for a total consideration of US$31 million ($42.0 million). The consideration will be paid in cash.
Two conditional sale and purchase agreements (SPAs) were signed between the managers’ indirectly wholly-owned subsidiary, ARA USH Chicago, LLC, and GHM Properties, LLC on May 8 (US time).
