Acrophyte Hospitality Trust said on May, 21 2026 that its indirect subsidiary, ARA USH Chicago, LLC, has entered into an amended purchase and sale agreement to dispose of Hyatt Place Memphis Primacy Parkway for 6.93 million US dollars.

The buyer, Shivam Patel, has paid a 75,000 US dollar non-refundable deposit and waived further due-diligence rights, with completion targeted for the third quarter of 2026.

The 126-room hotel was independently valued at 7.7 million US dollars as at Dec, 31 2025; the agreed price represents a 10 percent discount. Net divestment proceeds after fees and transaction costs are estimated at about 6.5 million US dollars.

Management cited the property’s weak performance, upcoming capital expenditure needs and the opportunity to redeploy capital within its portfolio as key reasons for the sale. Pro forma calculations suggest the deal would lift FY 2025 distribution per stapled security to 0.869 US cents from 0.850 US cents, while net asset value per stapled security would remain at 0.69 US dollars.

Based on Singapore Exchange rules, the transaction is classified as a disclosable transaction, with the consideration equal to 5.7 percent of Acrophyte Hospitality Trust’s market capitalisation.