ara h-trust

Revenue for the period falls 6.9% to US$78.1 million from US$83.9 million previously

Net property income drops 18.1% to US$5.3 million

Revenue for the period declines 5.2% year on year to US$84.9 million from US$89.5 million

ARA H-Trust and Cromwell E-Reit has new sponsor groups backing them. Senior correspondent Ben Paul explains why, and what it means for minority investors.

Lack of upside for minorities may further erode confidence in the external-manager model, and fuel calls for manager internalisation initiatives

Tang-owned Acrophyte Asset Management will then become the stapled group’s new sponsor

Although being DPS and NAV dilutive, the proposed sale will provide additional debt headroom

But its portfolio occupancy falls on softer demand due to weather conditions, a shift in holiday dates, the strong US dollar and upgrading efforts

ARA US Hospitality Trust’s (ARA H-Trust) distribution per stapled security (DPS) for the half year ended December 2023 was up 18.6 per cent to US$0.01929, from US$0.01627 in H2 FY2022.