Acrophyte Hospitality Trust said on Mar, 16 2026 that the purchaser of Hyatt Place Memphis Primacy Parkway has exercised its right to terminate the purchase and sale agreement before the extended due-diligence deadline of Mar, 16 2026.

The US$0.10 million earnest money deposit has been refunded to the buyer, and the planned divestment has been cancelled.

The managers of the stapled group, Acrophyte Hospitality Trust Management and Acrophyte Hospitality Business Trust Management, stated they will continue to evaluate strategic options for the property and will update the market on any material developments.