OUE Hospitality Trust's 1Q DPU down 6.3% to 1.18 cents on lower revenue

SINGAPORE (May 2): The manager of OUE Hospitality Trust (OUE HT) has declared a 1Q19 distribution per unit (DPU) of 1.18 cents, declining 6.3% from its DPU of 1.26 cents a year ago due to lower income from the hospitality segment as well as higher expenses.

Revenue fell 3% on-year to $31.7 million from $32.7 million previously due to lower contributions from the hospitality segment, i.e. the master lease income from the Mandarin Orchard Singapore (MOS) and Crowne Plaza Changi Airport (CPCA) hotels.