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ARA US Hospitality Trust to sell Hyatt Place Chicago Itasca for US$7.8 mil

Felicia Tan
Felicia Tan3/17/2022 9:4 AM GMT+08  • 3 min read
ARA US Hospitality Trust to sell Hyatt Place Chicago Itasca for US$7.8 mil
The divestment would have lifted the trust’s FY2021 DPS to 0.371 US cents from 0.355 US cents on a pro forma basis.
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The managers of ARA US Hospitality Trust, on March 17, announced that they will be selling Hyatt Place Chicago Itasca for a consideration of US$7.75 million ($10.6 million).

A conditional purchase and sale agreement was entered into with IHP Hospitality on March 17.

The consideration will be fully paid in cash. Of the amount, a non-refundable deposit of US$500,000 has been paid. The deposit will be applied towards the sale consideration payable at closing.

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