ARA US Hospitality Trust reverses from loss, reports NPI of US$9.1 mil for 1H21

ARA US Hospitality Trust (ARA H-Trust) has recorded net property income (NPI) of US$9.1 million ($12.3 million) for the 1HFY2021 ended June, reversing from a loss of US$2 million in the 1HFY2020.

On a sequential basis, ARA H-Trust reversed from a loss of US$3 million for the 2HFY2020.

The trust achieved gross revenue of US$52.8 million for the 1HFY2021, surging up 34.4% y-o-y from US$39.3 million previously on the back of easing travel restrictions in the US following widespread distribution of vaccines, prompting a recovery in domestic travel.