Shearman & Sterling represented Deutsche Bank AG New York Branch, as administrative agent, in connection with a $450 million unsecured term loan facility for affiliates of American Realty Capital Hospitality Trust, Inc. (“ARC Hospitality”). The $450-million facility will be used to finance the lodging REIT’s acquisition of three portfolios of hotels from affiliates of Summit Hotel Properties, Noble Investment Group and Wheelock Street Capital. Upon completion of the acquisitions, ARC Hospitality’s portfolio will total 166 hotels, comprising 20,195 rooms in 34 states.  Among the major global brands represented are the flags of Marriott International, Hilton Hotels & Resorts, Hyatt Hotels, InterContinental Hotels Group and Starwood Hotels and Resorts.