Ascendas Hospitality Trust Q1 DPS ticks up 0.8%

SINGAPORE - Ascendas Hospitality Trust yesterday reported a distribution per stapled security (DPS) of 1.29 cents for the first quarter, up from 1.28 cents a year ago.

Net property income for the three months ended June 30 rose 5.5 per cent to $22.6 million, although gross revenue declined marginally by 0.8 per cent to $52.4 million.

All hotels in its Australia portfolio recorded better performance in the quarter compared with last year, except for Courtyard by Marriott North Ryde, and Pullman and Mercure Brisbane King George Square.

Its portfolios in Japan and China also posted better performance, though contributions Park Hotel Clarke Quay in Singapore were marginally down compared with the corresponding quarter last year as a result of subdued corporate travelling.

Net asset value per stapled security was 85 cents as at June 30, from 86 cents on Mar 31.