ARA US acquires Hilton Colorado Springs South's Home2 Suites for $38.7m

The acquisition reflected the Managers' ongoing portfolio optimisation.

ARA US Hospitality Trust announced the acquisition of Hilton Colorado Springs South's Home2 Suites for US$29m (SG$38.7m).

Branded under Hilton Worldwide, the property, located at 1235 Tenderfoot Hill Road, Colorado Springs, Colorado, is a new-built upscale select-service and extended-stay hotel with 119 rooms.

Lee Jin Young, ARA US Hospitality Trust CEO, said they acquired Home2 Suites at a net property income (NPI) yield of 9.0%, higher than the NPI yield the Managers had derived from five Hyatt Place properties sold in the third quarter of 2022.

Lee added that the acquisition reflected their ongoing portfolio optimisation and rebalancing strategy to re-deploy capital into core assets to increase returns, profits, and distributions for ARA US Hospitality Trust and its Stapled Securityholders.

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