SINGAPORE: Singapore Exchange (SGX) has welcomed ARA US Hospitality Trust to its Mainboard under the stock code “XZL”. [the_ad id=”31605″]ARA US Hospitality Trust is a Singapore-based stapled trust which comprises ARA US Hospitality Property Trust and ARA US Hospitality Management Trust. ARA US Hospitality Trust has an initial portfolio of 38 upscale select-service hotels – 27 Hyatt Place hotels and 11 Hyatt House hotels – located across 21 states in the United States (U.S.).
Lee Jin Yong, Chief Executive Officer of the Managers, said, “The support we’ve received from both institutional and retail investors really encourages us. We now forge ahead, embarking on a new chapter for the Trust. We will diligently focus on organic growth opportunities through active asset management and thoughtfully expand the portfolio through accretive investments, always keeping a clear focus on providing stable cash flows and enhancing value for our security holders.”
Mohamed Nasser Ismail, Head of Equity Capital Markets, SGX, said, “We are delighted to welcome ARA US Hospitality Trust, the first pure-play U.S. upscale select-service hospitality trust to be listed on our Mainboard. As one of Asia’s largest global REIT and property trusts markets, we are excited again to be the first in Asia to offer investors the opportunity to invest in such a US Hospitality Trust listing, allowing them exposure to the world’s largest lodging market.”
The listing of ARA US Hospitality Trust brings the total number of SGX-listed REITs and property trusts to 43, with a combined market capitalisation of about S$99 billion. Over the past 10 years, the market capitalisation of this sector has grown at a compounded annual growth rate of 22%. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over S$185 billion.
ARA US Hospitality Trust opened at US$0.875 today.