The trust had deferred hotel renovations since 2020.

The trust had deferred hotel renovations since 2020. Acrophyte Hospitality Trust has suspended distributions to stapled securityholders from the first half of 2026, as it moves to fund a $128.09m (US$100m) capital expenditure programme driven largely by mandatory hotel renovations required under its Hyatt franchise agreements. The suspension is expected to remain in place until the second half of 2028, though the managers said distributions could resume earlier if market conditions improve. The trust deferred hotel renovations during the COVID-19 pandemic to preserve liquidity, creating a significant backlog. In late 2024, Hyatt enforced strict compliance with its brand standards, requiring an estimated $128.09m (US$100m) in capital expenditure over FY2025 to FY2027.