Ascendas Hospitality Trust Q3 DPS up despite fall in revenue

Singapore

SCENDAS Hospitality Trust on Thursday reported a distribution per stapled security (DPS) of 1.45 Singapore cents for the third quarter ended Dec 31, 2015 (Q3 FY2016). This was up from 1.3 cents in the corresponding period a year earlier.

Gross revenue slid 9.5 per cent year-on-year to S$54.9 million, while net property income dropped 9.3 per cent to S$23.4 million.

This was mainly due to the loss of income from Pullman Cairns International which was divested in June 2015, and lower contribution from Pullman and Mercure Brisbane …