ARA US Hospitality Trust - Annual Report 2021

Cover Page	1
Corporate Profile	2
Established Sponsor	2
Contents	3
Premier International Hotel Brands	10
Diversified Portfolio	13
2021 Financial Performance	14
Year In Brief	16
Letter to Stapled Securityholders	18
Our Hotel Segment	22
Trust Structure	23
Board of Directors	24
Management Team	28
FY2021 in Review	30
Operational Review	30
Financial Review	34
Investor Relations	36
Stapled Security Price Performance	37
Portfolio Overview	38
Our Hotels	38
Corporate Governance & Financial Report	58
Corporate Governance Report	60
Statement of Policies and Practices	84
Statement on Composition of the Board of Directors	90
Risk Management	91
Financial Statements (ARA US Hospitality Property Trust)	93
Report of the Trustee	94
Report of the Manager	95
Report of the Trustee-Manager	96
Statement by the Chief Executive Officer	99
Independent Auditors’ Report	100
Statements of Financial Position	105
Statements of Comprehensive Income	106
Statement of Distributable Income	107
Statement of Movements in Stapled Securityholders’ Funds	108
Statements of Cash Flows	112
Notes to the Financial Statements	114
Financial Statements (ARA Business Trust Management (USH) Pte. Ltd.)	179
Directors’ Statement	180
Independent Auditors’ Report	182
Statement of Financial Position	184
Statement of Comprehensive Income	185
Statement of Changes in Equity	186
Statement of Cash Flows	187
Notes to the Financial Statements	188
Statistics of Stapled Securityholdings	204
Additional Information	206
Corporate Directory	210
Back Cover	212

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