ARA Asset Management announced acquisition of 38 select service hotels under the Hyatt brand. Financial terms were undisclosed however report by IPE Real Assets estimated that the portfolio was sold for over $700 million. In September 2014, Hyatt’s affiliates agreed to sell 38 hotels to a company organised by Lone Star Funds for approximately $590 million. “Expanding into the US hospitality sector adds on to ARA’s diversified suite of products and services in the public and private markets,” said John Lim, Group CEO, ARA.