Structure of Acrophyte Hospitality Trust
ACRO-HT is a stapled group comprising ACRO-REIT and ACRO-BT. ACRO-REIT is set up to hold the underlying hotels. ACRO-BT is an active business trust set up to own the operational assets of the hotels. ACRO-BT extends loans to the hotel holding companies to facilitate the repatriation of cashflows to Singapore.
ACRO-HT has engaged ARA US Hospitality Management, Inc ("Hotel Manager"). The Hotel Manager oversees the operations and management of the portfolio in the capacity of asset manager. The Hotel Manager uses third-party property managers (i.e., Aimbridge, Avion, Concorde and Chartwell) for direct, day-to-day operations of the hotels. As the asset manager, the Hotel Manager manages the property managers on behalf of the Trust. Hyatt, Hilton and Marriott are franchisors that extend the various brands to the portfolio.
