During the 1HFY2023, gross revenue increased by 41.1% y-o-y to $62.2 million while net property income (NPI) grew by 42.9% y-o-y to $45.2 million.
Frasers Hospitality Trust (FHT) (SGX:ACV
) has reported a distribution per stapled security (DPS) of 1.2649 cents for the 1HFY2023 ended March 31, 79.9% higher than the DPS of 0.7039 cents in the same period the year before.
The higher DPS comes on the back of an improved performance in FHT’s 1HFY2023 following a further recovery in travel and demand in FHT’s operating markets. The trust saw a continued increase in demand and performance in some markets after the successful transition to living with Covid-19 as an endemic in many countries with the early recovery led mainly by leisure demand. The gradual resumption of corporate demand and marquee events in various cities also led to the better performance.
