SINGAPORE (Dec 3): ARA Asset Management announced Monday that it has completed the acquisition of a portfolio 38 hotels in the US.

The “select service” hotels, which offer a lower price point compared with full service hotels, are branded as Hyatt Place and Hyatt House across 21 states in the US.

While ARA did not disclose the cost of the acquisition, the group says this is part of its global expansion plans over the past year.

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