OUE Hospitality Trust announced on 4 May that it has achieved a distribution per stapled security (DPS) of 1.30 Singapore cents for its 1Q 2017, 18.2% higher than what was achieved in the corresponding period of 2016.

The trust’s revenue and net property income (NPI) came in at SGD32.1 million (USD23 million) and SGD27.4 million, 6.4% and 4.3% higher respectively year-on-year.

Accordingly, distributable income of SGD23.5 million achieved for 1Q 2017 was 19.1% higher than what was recorded for 1Q 2016.

OUE Hospitality Trust has attributed the set of results mainly to increased contribution from the 243-room Crowne Plaza Changi Airport annex, and higher occupancy at Mandarin Gallery.

To read the full article, please login or register.