Structure of ARA US Hospitality Trust

ARA H-Trust is a stapled group comprising ARA H-REIT and ARA H-BT. ARA H-REIT is set up to hold the underlying hotels. ARA H-BT is an active business trust set up to own the operational assets of the hotels. ARA H-BT extends shareholder's loans to the hotel holding companies to facilitate the repatriation of cashflows to Singapore.

ARA Hotel Manager is intended to oversee the operation, management and maintenance of the hotels by the third-party hotel managers (Aimbridge and Concord Hospitality). Both Hyatt and Marriott are franchisors that extend the various brands to the Portfolio.

Structure Chart

Additional Information on the Master Lease Agreements

All of the assets owned by ARA H-REIT were leased to the wholly-owned subsidiaries of ARA H-BT.

Tenant Industry Percentage of Revenue Expiry
ARA USH Chicago Tenant, LLC Hospitality 100.0% 31 December 20243
ARA USH Blue Runner Tenant, LLC Hospitality 100.0% 17 January 20253

  1. Please refer to the section "Important Notice Regarding the Ownership of Stapled Securities" in the Prospectus.
  2. An indirect, wholly-owned subsidiary of ARA Asset Management Limited.
  3. As ARA H-REIT owns the assets, while ARA H-BT is the master lessee which manages and operates these assets, it is expected that the master leases will be renewed as long as ARA H-REIT and ARA H-BT remain stapled.