OUE Hospitality Trust (OUE H-Trust)

Hong Kong formally withdraws extradition bill; Singapore's GDP forecast lowered

SINGAPORE (Sept 9): After 13 long weeks of protests in Hong Kong, an end to the political crisis in the Special Administrative Region may be in sight. On Sept 4, the city’s embattled leader Carrie Lam formally announced the withdrawal of the extradition bill, meeting one of the five demands of the protesters.

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OUE C-REIT and OUE H-Trust in merger to create diversified S-REIT with $6.8b in assets

SINGAPORE (Apr 8): OUE Commercial REIT (OUE C-REIT) and OUE Hospitality Trust (OUE H-Trust) is proposing a merger to create one of the largest diversified S-REITs with total assets of up to $6.8 billion.

The proposed merger will be effected by way of a trust scheme of arrangement with OUE C-REIT acquiring all the issued and paid-up securities in OUE H-Trust in exchange for a combination of cash and new units in OUE C-REIT.

OUE H-Trust posts 0.8% increase in 4Q DPS to 1.28 cents

SINGAPORE (Jan 29): The manager of OUE Hospitality Trust (OUE H-Trust) reported 4Q18 DPS tof 1.28 cents, 0.8% higher from 1.27 cents in 4Q17.

This brings DPS for FY18 to 4.99 cents, 2.9% lower than 5.14 cents in FY17.

Gross revenue for the quarter was 2.2% lower at $33.1 million from $33.8 million last year, as both the trust’s hospitality and retail segments posted a decrease of 2.6% and 0.9% in revenue, respectively.

Analysts see steady growth ahead for OUE Hospitality Trust amid market challenges

SINGAPORE (May 3): Analysts are staying the course on OUE Hospitality Trust (OUE H-Trust), on the back of strong revenue per available room (RevPAR) growth in its hospitality segment, and a potential recovery for its retail segment.

OUE H-Trust reported a 1.9% increase in gross revenue to $32.7 million for the 1Q18 ended March, driven by higher master lease income from Mandarin Orchard Singapore (MOS).

OUE Hospitality Trust posts 3% decline in 1Q DPS to 1.26 cents on absence of CPCA income support

SINGAPORE (May 2): The manager of OUE Hospitality Trust (OUE H-Trust) has announced distribution per stapled security (DPS) of 1.26 cents for the 1Q ended March, some 3% lower than DPS of 1.30 cents a year ago.

This was mainly due to the absence of income support for Crowne Plaza Changi Airport (CPCA), which had been fully drawn down in 3Q2017.

A stapled group comprising OUE Hospitality Real Estate Investment Trust (OUE H-REIT) and OUE Hospitality Business Trust (OUE H-BT), OUE H-Trust saw its gross revenue grow 1.9% in 1Q18 to $32.7 million, from $32.1 million a year ago.

OUE H-Trust still RHB's top pick amid 'unwarranted' concerns, selldown

SINGAPORE (Apr 4): RHB Research is keeping OUE Hospitality Trust as its top pick among hospitality REITs in spite of concerns over sponsor OUE’s proposed issuance of exchangeable bonds (EB), which has sparked a 7% fall in OUE H-Trust’s share price over the past month.

OUE last month proposed to issue $150 million exchangeable bonds due 2023, which bear interest at 3% per annum. These will be exchangeable into OUE H-Trust units at 95.7 cents each.

OUE Hospitality Trust posts 6.6% drop in 4Q DPS to 1.27 cents on absence of income support, higher interest expense

SINGAPORE (Jan 30): The manager of OUE Hospitality Trust (OUE H-Trust) has announced distribution per stapled security (DPS) of 1.27 cents for the 4Q ended December, a decline of 6.6% from DPS of 1.36 cents a year ago.

This bring DPS for the full year to a record 5.14 cents, 11.5% higher than DPS of 4.61 cents a year ago.

The lower DPS in 4Q mainly due to the absence of income support for Crowne Plaza Changi Airport (CPCA) and higher interest expense. These were partially mitigated by higher income received from hospitality and retail segments.

OUE Hospitality Trust upgraded on receding supply headwinds and T4 opening

SINGAPORE (April 3): RHB is upgrading OUE Hospitality Trust to “buy” from “neutral” as it sees sector headwinds receding in 2H17 with catalysts emerging.

Construction of Changi Airport’s Terminal 4 has been completed and is slated to open early 2H17.

T4 would be able to handle 16 million passengers p.a. bringing total annual capacity to 85 million.

One of the direct beneficiaries of this new terminal would be OUE Hospitality Trust’s (OUEHT) Crowne Plaza Changi Airport Hotel (CPCA), being the only hotel located within the airport premises.

Keeping the Crowne on OUE Hospitality Trust

OUE Hospitality Trust (OUE H-Trust) Crowne Plaza Changi Airport (CPCA) extension

SINGAPORE (Jan 26): OCBC Investment Research is keeping OUE Hospitality Trust at “buy” with a higher fair value estimate of 75 cents, from 73 cents previously, on the back of gains from Crowne Plaza Changi Airport (CPCA).

This comes despite OUE H-Trust recording a 29.6% drop in FY16 DPU to 4.61 cents, mainly due to an enlarged unit base following the rights issue.

OUE H-Trust’s FY16 gross revenue dipped 1.7% to $122.5 million. This was mainly due to an 11.3% decline in retail revenue and partially mitigated by a 2.3% increase in contributions from hospitality.

OUE Hospitality Trust declares 4Q DPS of 1.36 cents

SINGAPORE (Jan 25): The trustee-manager of OUE Hospitality Trust (OUE H-Trust) has declared a distribution per stapled security (DPS) of 1.36 cents for 4Q16 ended Dec. This is 20% lower than the same quarter a year ago.

Revenue and net property income (NPI) of $33.2 million and $29.6 million respectively were 0.7% and 2.5% higher than a year ago.

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