Chartwell Hospitality Closes 29.0 Million Dollar Deal

 

Singapore-based company ARA US Hospitality Trust acquires Home2 Suites by Hilton Property in Colorado

NASHVILLE–(BUSINESS WIRE) — Chartwell Hospitality today announced the sales of their Home2 Suites by Hilton property located in Colorado Springs, Colo. to ARA US Hospitality Trust, a Singapore-based select service hospitality trust.  ARA acquired the extended-stay hotel with 119 rooms for $29.0 million

“We’re excited to continue managing this high-quality, limited-service hotel for ARA.”

“Home2 Suites Colorado Springs, Colorado is a great property. We commenced operations at the end of October 2019 and have been honored to provide a hotel designed for extended-stay travelers who wish to keep their normal routine,” said Will Schaedle, Executive Vice President of Chartwell Hospitality. “We’re excited to continue managing this high-quality, limited-service hotel for ARA.”

Chartwell Hospitality will continue to manage the Colorado Springs, Colorado Home2 Suites property which is conveniently located at the foothills of the Rocky Mountains near the Fort Carson military base and the Broadmoor Convention Center and Resort. This pet-friendly hotel features a 24-hour business center, meeting space, indoor heated pool and a combined fitness and laundry center with convenient access to downtown Colorado Springs, Garden of the Gods, Olympic Training Center and Museum, Pikes Peak and the Colorado Springs Airport.

About Chartwell Hospitality

Chartwell Hospitality LLC is a fully integrated Hotel Operating & Development Company. Chartwell’s portfolio includes 26 operating hotels as well as 7 hotels under development/construction, covering a geographic footprint that includes NY, TN, FL, NC, TX, MO, CO, and OK. Since our inception, Chartwell has successfully executed in excess of $1.75 billion in hotel development and acquisition investments.

Our growth and success are based on our mission to be the best in the business, as well as a commitment to constantly exceed the expectations of our investors, partners, guests, and associates. Chartwell Hospitality was founded in 2003 and is based in Franklin, Tennessee. Chartwell has in excess of 1,200 employees. For additional information about Chartwell Hospitality, visit www.chartwellhospitality.com.

About ARA US Hospitality Trust

Listed on the Singapore Exchange on 9 May 2019, ARA US Hospitality Trust is a hospitality stapled group comprising ARA US Hospitality Property Trust (“ARA H-REIT”) and ARA US Hospitality Management Trust (“ARA H-BT”). ARA US Hospitality Trust invests in income-producing real estate assets used primarily for hospitality purposes located in the United States. As at the date of this announcement, ARA US Hospitality Trust’s portfolio comprised 36 select-service hotels with a total of 4,707 rooms across 19 states in the United States. ARA H-Trust is managed by ARA Trust Management (USH) Pte. Ltd. and ARA Business Trust Management (USH) Pte. Ltd., (collectively known as the “Managers”). The Managers are indirect wholly-owned subsidiaries of ARA Asset Management Limited. For more information, please visit www.araushotels.com.