ARA H-Trust Q1 profit misses IPO forecast by 47.8% at US$8.1m
Stapled group also posts gross revenue of US$31.7m and net property income of US$3.6m for the three months ended March 31
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ARA US Hospitality Trust (ARA H-Trust) posted a gross operating profit of US$8.1 million for its first quarter, falling 47.8 per cent short of its initial public offering (IPO) forecast of US$15.5 million, the trust's managers said in a business update on Friday.
The stapled group also recorded gross revenue of US$31.7 million and net property income of US$3.6 million for the three months ended March 31, 2020, the managers said. Both missed IPO forecasts by 24.5 per cent and 68.2 per cent respectively.
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