Data from ARA US Hospitality Trust’s latest results have been updated into the Singapore REITs table.
ARA US Hospitality Trust (ARA H-Trust) has reported gross revenue, and gross operating profit of USD52.8 million and USD14.1 million for its 1H 2021.
These represent increases of 34.4% and 143.1% respectively compared to 1H 2020.
This led to a net property income of USD9.1 million, reversing the USD2.0 million loss in 1H 2020.
But despite the improved performance, after deducting loan interest, other trust expenses and capex reserve, ARA H-Trust recorded a nil distributable income in 1H 2021.
This is due to the fact that the recovery is still in the early stages, said the trust on 5 August.
However, ARA H-Trust is optimistic on business conditions ahead, given that close to 60% of the US adult population has been fully vaccinated, and COVID-19 cases have dropped significantly in the country.
“Travel and social restrictions in almost all US states have since been lifted and travel sentiments continue to ramp up which led to the recovery in domestic travel and consequently, hotel performance in the first half of 2021”, said the trust.
“Similarly, the hotels under the ARA H-Trust’s portfolio benefited positively from the recovery in domestic travel demand in the same period”, it added.
The trust’s full disclosure on its results can be viewed here.
ARA H-Trust was last done on the Singapore Exchange at USD0.515, which currently implies a distribution yield of 2.91% according to data compiled on the Singapore REITs table.