Distributable income for the period rose by 6.8% y-o-y to US$8.7 million as revenue and net property income (NPI) rose.
The manager of ARA US Hospitality Trust (SGX:XZL
) has reported a distribution per stapled security (DPS) of 1.501 US cents (2.012 cents) for the 1HFY2023 ended June 30, 5.2% higher than the DPS of 1.427 US cents in the same period the year before.
The higher DPS came as the US lodging market continued its recovery during the six-month period with lodging demand remaining resilient amid inflationary concerns and risks of an economic slowdown. The higher demand for business and leisure travel, as well as large group meetings and conventions, also contributed to the improvement.
