Home Capital Results

ARA H-Trust reports net property loss of US$2 mil for 1H2020 due to pandemic

Felicia Tan
Felicia Tan8/5/2020 08:46 AM GMT+08  • 3 min read
ARA H-Trust reports net property loss of US$2 mil for 1H2020 due to pandemic
The trust has also declared no distributable income and no distribution per stapled security (DPS) for the half-year period.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The managers of ARA US Hospitality Trust (ARA H-Trust) has reported net property loss of US$2 million ($2.8 million) for the 1H2020 ended June, compared to the US$29.5 million posted in 1H2019.

The trust has also declared no distributable income and no distribution per stapled security (DPS) for the half-year period compared to distributable income of US$19.7 million and DPS of 3.47 US cents the year before.

The loss was due to the trust’s temporary closure of 30 properties in March 2020 as part of its cost mitigation measures arising from the numerous travel restrictions and social distancing measures, which resulted in a significant decline in demand for hotels and occupancies.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now