Singapore-listed hospitality business trust Ascendas Hospitality Trust (A-HTRUST)(SGX:Q1P) has reported strong numbers for its 3QFY13/14.
The business trust reported a 33% climb in distributable income (DI) on the back of a 36% increase in net property income (NPI) as compared with the corresponding quarter last reporting year. DI and NPI came in at SGD16.6 million and SGD23.3 million respectively.
|Recent acquisitions made by Ascendas Hospitality Trust has given a boost to net property income.|
A-HTRUST has attributed the strong numbers to to improved performance of its Australia portfolio, full quarter contribution from Ibis Beijing Sanyuan, as well as new income from Park Hotel Clarke Quay, which was acquired in June 2013. Correspondingly, the distribution per unit (DPU) of 1.61 cents for 3Q FY13/14 was 3.9% higher than the DPU of 1.55 cents for 3Q FY2012/13.
Units of A-HTRUST ended the session 0.7% higher from its previous close on the Singapore Exchange at SGD0.72.