The manager of ARA US Hospitality REIT has been sold by ESR Group to Acrophyte Asset Management:

In the same announcement, ARA Real Estate Investors 23, held by ESR, has also entered into a sale and purchase agreement to divest its 19% stake of 110.2 million stapled securities in ARA US Hospitality Trust to Acrophyte Limited, an entity held by Tang Jialei and Tang Jialin.

Acrophyte Pte Ltd, which used to be called Chip Eng Seng Corp, has been appointed the new sponsor of ARA US Hospitality Trust.