SINGAPORE (Apr 17): Since March 23, when the FTSE ST REIT Index made its low, ARA US Hospitality Trust has recovered the most within its stressed hospitality sector. However, since the start of the year, the US trust is the worst performer (see Charts 1 and 2). There can be no sugar coating how challenging its prospects appear to be. Even before the Covid-19 pandemic hit, ARA US Hospitality Trust missed its FY2019 forecast by 7.7%, and announced distribution per stapled security (DPS) of 4.21 US cents (5.99 cents). In 4QFY2020, ARA US Hospitality Trust missed its DPS by 12.9%, reporting 1.08 US cents. ARA US Hospitality Trust’s manager says the miss was due to a combination of supply in its markets, Hurricane Dorian and the Gen-eral Motors Strike.

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