JUST two days after ARA Group lodged a preliminary prospectus to list about US$720 million of US hotels under the Hyatt brand into a business trust, another issuer, the manager of Eagle Hospitality Trust also lodged a preliminary prospectus to list its portfolio of US hotel assets.EHT is a US hospitality stapled group, backed by Urban Commons, a privately-held real estate investment and development firm.
EHT's sponsor, Urban Commons, has a portfolio of various property types comprising mostly hotels. The company is headquartered in Los Angeles. The founders will collectively own an 18.3 per cent stake in EHT, based on the maximum offering price. The sponsor's industry experience will also come in handy when assessing potential acquisition opportunities and in the refurbishment, rebranding and repositioning of hospitality assets, the issuer said.
Source: News Formal (newsformal.com)
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