OUE Commercial REIT's Crowne Plaza Changi Airport. (Photo: REITsWeek)OUE Commercial REIT's Crowne Plaza Changi Airport. (Photo: REITsWeek)

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.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.