Gross operating profit for the year rose by 8.1% y-o-y to US$62.0 million while net property income (NPI) was up by 15.1% y-o-y to US$47.7 million. Both were higher from the increase in revenues.
ARA US Hospitality Trust has reported a distribution per stapled security (DPS) of 3.43 US cents (4.6 cents) for the FY2023 ended Dec 31, 2023, 12.3% higher y-o-y. DPS for the 2HFY2023 rose by 18.6% y-o-y to 1.929 US cents.
FY2023 revenue rose by 3.8% y-o-y to US$175.5 million as portfolio occupancy rose by 4 percentage points y-o-y to 69.3%. Revenue per available room (RevPAR) improved by 12.9% y-o-y to US$96. The average daily rate (ADR) also rose by 5.3% y-o-y to US$138.
