OUE Hospitality Trust DPS in Q3 up 2.5% from forecast

OUE Hospitality Trust on Monday reported distribution per share of 1.64 Singapore cents in the third quarter, up 2.5 per cent from its forecast, on higher distributable income.

Income available for distribution was stronger than expected as a result of higher net property income of S$25.4 million, which rose 1.6 per cent.

Mandarin Orchard Singapore recorded better revenue per available room (RevPAR) of S$252 for the three months ended September, as compared to the forecast RevPAR of S$248. This was boosted by higher sales from the corporate business segment.

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