ARA Hospitality Sells Four More Hotels

News about ARA US Hospitality Trust

ARA US Hospitality Trust seems intent on deleveraging with another hotel disposal: the sale of a portfolio of four Hyatt Place hotels: Pittsburgh Cranberry (Pennsylvania), Birmingham Inverness (Alabama), Cincinnati Northeast and Cleveland Independence (Ohio).

The net proceeds of the transaction will be US$31.4 million. Pro-forma, it is expected to reduce leverage from 44.3% to 41.9% while having no impact on NAV.

ARA US Hospitality Trust
Price0.275 USD
NAV0.710 USD
Yield (4 quarters)12.47%
Gearing43.5%