OUE Hospitality Trust Q3 DPS falls 5.9%

Singapore

OUE Hospitality Trust's (OUE H-Trust) distribution per stapled security (DPS) for the third quarter ended Sept 30 fell to 1.28 Singapore cents, down 5.9 per cent from 1.36 cents in Q3 FY17.

This is because OUE H-Trust no longer receives income support for Crowne Plaza Changi Airport (CPCA) from OUE Airport Hotel, having fully drawn down the entire income support of S$7.5 million, it said.

Gross revenue fell 2.2 per cent year on year to S$33.24 million on the back of lower contributions from both the hospitality and retail segments. Its asset portfolio comprises the 1,07…