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") to oversee the operations and management of the portfolio in the capacity of an asset manager. The Hotel Manager uses third-party hotel operators for direct, day-to-day operations of the hotels. As the asset manager, the Hotel Manager manages the hotel operators (i.e., Aimbridge Hospitality, Avion Hospitality, Concord Hospitality and Chartwell Hospitality) on behalf of ACRO-HT. Hyatt Hotels Corporation ("Hyatt"), Marriott International ("Marriott") and Hilton Worldwide ("Hilton") are franchisers that extend the various brands to the Portfolio.
