REAL estate investment group ARA Group is spinning off US$719.5 million of US hotels under the Hyatt brand into a business trust that it wants to list on the Singapore Exchange .
The proposed ARA US Hospitality Trust will comprise US dollar-denominated stapled securities of ARA US Hospitality Property Trust , which will hold the hotel properties; and ARA US Hospitality Management Trust , which will run the hotels, according to a preliminary prospectus that has been lodged with the Monetary Authority of Singapore. The pricing, amount to be raised and timing of the offering have not been set.
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