OUE Hospitality Trust declares 4Q DPS of 1.36 cents

SINGAPORE (Jan 25): The trustee-manager of OUE Hospitality Trust (OUE H-Trust) has declared a distribution per stapled security (DPS) of 1.36 cents for 4Q16 ended Dec. This is 20% lower than the same quarter a year ago.

Revenue and net property income (NPI) of $33.2 million and $29.6 million respectively were 0.7% and 2.5% higher than a year ago.

Hospitality revenue was 2.9% higher at $24.5 million. The higher revenue was attributable to the higher contribution from the enlarged 563-room Crowne Plaza Changi Airport (CPCA) as the 243-room extension to CPCA was acquired on 1 August 2016.

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