ARA US Hospitality Trust (SGX: XZL) was listed in Singapore on 9 May 2019 as the first pure-play US hospitality trust. The trust is a hospitality stapled group comprising ARA US Hospitality Property Trust (ARA H-REIT) and ARA US Hospitality Management Trust (ARA H-BT). A “stapled group” means that if an investor buys units in ARA US Hospitality Trust, the investor would own both ARA H-REIT — a real estate investment trust (REIT) — and ARA H-BT — a business trust. ARA H-REIT was set up to hold the hospitality trust’s underlying hotels while ARA H-BT is an active business trust that owns the operational assets of the hotels. ARA US Hospitality Trust’s sponsor is ARA Real Estate Investors 23 Pte Ltd, an indirect wholly-owned subsidiary of ARA Asset Management Limited. Currently, ARA US Hospitality Trust’s portfolio contains 41 select-service hotels with a total of over 5,000 rooms across 22 states in the United States....