For the 2HFY2023, FHT’s gross revenue rose by 17.8% y-o-y to $61.0 million while NPI grew by 19.5% y-o-y to $45.3 million. Both were due to the significant improvements in the operating environment during the six-month period compared to the same period a year ago. Excluding the contribution from Sofitel Sydney Wentworth which was divested in April 2022, the same-store gross revenue and NPI were 25.3% and 29.4% higher y-o-y and they reached 88.9% and 90.5% of the pre-Covid-19 levels respectively.
Frasers Hospitality Trust (FHT) has reported a distribution per stapled security (DPS) of 2.4426 cents for the FY2023 ended Sept 30, 49.3% higher y-o-y. FHT’s DPS for the 2HFY2023 rose by 26.4% y-o-y to 1.1777 cents.
The higher DPS, which stood in tandem with the higher gross revenue and net property income (NPI), was attributed to the continued recovery in global tourism and meetings, incentives, conferences and exhibitions (MICE) segments in various cities.
