ARA US Hospitality Trust (SGX:XZL) entered into a conditional purchase and sale agreement to acquire Home2 Suites by Hilton Colorado Springs South Hotel from Chartwell Hospitality LLC for $29 million on January 3, 2023. The total acquisition cost is expected to be wholly funded by cash. Under the PSA, completion is subject to several conditions including the completion of due diligence, as well as the termination of the existing franchise agreement between CH Tenderfoot Hill and Hilton Franchise Holding with respect to the branding and operation of the hotel. The completion of the proposed acquisition is expected to take place in the 1QFY2023. The deal is expected to close on March 31, 2023. The acquisition of the property is expected to be accretive to its stapled securityholders on a historical pro forma basis.

ARA US Hospitality Trust (SGX:XZL) completed the acquisition of Home2 Suites by Hilton Colorado Springs South Hotel from Chartwell Hospitality LLC on April 18, 2023.