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OUE Hospitality Trust posts 5.9% lower 3Q DPS on lower revenue & absence of income support

Michelle Zhu
Michelle Zhu11/7/2018 11:8 PM GMT+08  • 3 min read
OUE Hospitality Trust posts 5.9% lower 3Q DPS on lower revenue & absence of income support
SINGAPORE (Nov 7): The manager of OUE Hospitality Trust (OUE HT) has announced a 3Q18 distribution per stapled security (DPS) of 1.28 cents, down 5.9% from its 1.36 cent DPS a year ago.
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SINGAPORE (Nov 7): The manager of OUE Hospitality Trust (OUE HT) has announced a 3Q18 distribution per stapled security (DPS) of 1.28 cents, down 5.9% from its 1.36 cent DPS a year ago.

The lower distributable income of $23.3 million, which is 5.4% down from the previous year’s distributable income of $24.7 million, was largely due to the absence of income support for Crowne Plaza Changi Airport (CPCA) hotel as it was fully drawn down as at 3Q17.

In all, gross revenue for OUE HT fell 2.2% to $33.2 million compared to $34 million a year ago, as both hospitality and retail segments posted lower revenue y-o-y.

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