OUE Hospitality Trust's distributable income fell 6.6% for 2Q

SINGAPORE - Distributable income for OUE Hospitality Trust (OUE H-Trust) fell 6.6 per cent to S$20.2 million in the second quarter owing to a weaker showing by Mandarin Orchard Singapore.

Net property income rose by 2.2 per cent to S$25.8 million for the three months to June 30 and gross revenue was up 4.6 per cent at S$29.6 million.

The higher revenue and net property income were due to contribution from Crowne Plaza Changi Airport, acquired on Jan 30 this year.

The trust's distribution per stapled security was 1.52 cents, down 7.3 per cent from the same period last year.

kohping@sph.com.sg