Acrophyte Hospitality Trust’s FY2024 distributions fall by 53.4%

Acrophyte Hospitality Trust (ACRO-HT) reported a sharp decline in its FY2024 distributions, with distributable income falling 53.4% to USD9.3 million from USD19.8 million in the previous year.

The decline was driven by higher finance costs, which surged by 44.1% to USD22.8 million.

Despite a relatively stable gross operating profit (GOP) margin of 35.3%, the trust’s net property income (NPI) dropped 7.0% year-on-year to USD44.3 million.