Gross operating profit margin increased by 2.4 percentage points to 29.0% while NPI margin increased by 1.3 percentage points to 17.6%.
ARA US Hospitality Trust (SGX:XZL
) has reported an improvement across the board for the 1QFY2023 ended March 31 as the US lodging market continued its recovery during the quarter.
For the three-month period, the REIT reported revenue of US$36.2 million ($48.1 million), up 10.2% y-o-y driven by the robust growth in occupancy rates and average daily rate (ADR). Its gross operating profit and net property income (NPI) also increased by 20.1% and 19.0% y-o-y to US$10.5 million and US$6.4 million respectively.
