OUE Hospitality Trust's Q4 DPS falls to 1.36 cents

Singapore

OUE Hospitality Trust's distribution per stapled security (DPS) for the fourth quarter ended Dec 31, 2016, fell to 1.36 Singapore cents, while higher master lease income from its hotel business and lower property expenses from its retail business bolstered net property income (NPI).

The decline in DPS from 1.7 Singapore cents in the year-ago period was due to the enlarged number of stapled securities arising from the rights issue in April 2016.

Gross revenue for the fourth quarter edged up 0.7 per cent to S$33.22 million due to high contributions from Crowne Plaza Changi Airport (CPCA) after a 243-room extension was added in August last year. Meanwhile, NPI…