ARA H-Trust’s net income soars 131% YoY to US$21.1m in H122

The increase was on the back of the trust’s higher revenue and gross operating profit.

SGX-listed ARA US Hospitality Trust’s (ARA H-Trust) net income soared by 131.2% YoY to US$21.2m ($29.27m) in H1 2022, its latest financial statement revealed.

According to ARA H-Trust’s managers, the increase in the trust’s net income was on the back of its higher revenue and gross operating profit which rose 53.8% YoY to US$81.3m ($112.25m), and 95.0% YoY to US$27.6m ($38.1m).

The increase in net income allowed ARA H-Trust to have a distributable income of US$8.1m ($11.18m) and a distribution per staple security (DPS) of US$0.01427 ($0.020).

“We were pleased to resume distributions for 2H 2021. Our DPS for 1H 2022 has increased substantially with the continued recovery in our operating performance,” Lee Jin Yong, CEO of the REIT's managers, said.

ARA H-Trust is expected to continue to outperform for the rest of the year on the back of “a robust U.S. lodging recovery supported by the pent-up demand and pricing strength.”

“I’m optimistic about the future performance of ARA H-Trust. The strengthening revenues combined with the highly efficient cost structure for select-service hotels are expected to enhance returns and deliver value for investors over the long run. Therefore, ARA H-Trust’s high quality, premium-branded, the diversified upscale select-service portfolio provides our stapled security holders with an optimal long-term U.S. lodging strategy,” Lee said.

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