During the period, gross revenue increased by 38% to US$130.0 million, compared to US$93.9 million a year ago. Gross operating profit came in at US$44.9 million, some 54% higher than US$29.1 million last year. This brings net property income to US$33.0 million, 80% higher than US$18.3 million in 9MFY2021.
In its latest 9MFY2022 ended September business update, ARA US Hospitality Trust announced that its occupancy has increased by 9.5 percentage points (ppt) to 65.4%, while average daily rate (ADR) saw an 18.9% y-o-y increase to US$130 ($184).
Thanks to the growth in occupancy and ADR, revenue per average room (RevPAR) grew 39.0% y-o-y to US$85, while gross operating profit (GOP) margin gained 3.5 ppt to 34.5%.
