OUE Hospitality Trust NPI up 0.08% to $112.8m in 2018

The firm saw stable RevPAR from Crowne Plaza Changi Airport and Mandarin Orchard Singapore.

OUE Hospitality Trust (OUEHT) saw a marginal increase of 0.08% YoY in its net property income (NPI) to $112.8m in 2018 from $112.7m in 2017, an announcement revealed. Revenue dipped 1% YoY to $129.7m from $131.1m.

In 2018, the firm recorded a 2.3% fall in its distributable income to $90.8m from $92.9m in 2017. Meanwhile, distribution per unit (DPU) also decreased 2.9% YoY to $0.499.

In Q4, OUEHT recorded an NPI decrease of 1% to $28.9m from $29.2m in Q4 2017 whilst revenue fell 2.2% to $33.1m from $33.8m. Distributable income in Q4 grew 1.3% to $23.3m from $23m a year ago whilst DPU inched up $0.128.

The firm noted that Crowne Plaza Changi Airport’s revenue per available room (RevPAR) inched up 7.7% whilst that of Mandarin Orchard Singapore marginally increased 1%.

“Mandarin Gallery has recorded its highest occupancy for the year at 99.1% as at 31 December 2018, compared to 94.6% a year ago,” Chen Yi-Chung Isaac, acting CEO of the REIT’s manager commented. “Cultivating customer-centric shopping experiences at the mall remains our key focus whilst we continue to explore opportunities to curate Mandarin Gallery and strengthen its position as a destination mall.”

OUEHT’s investment portfolio remained steady at $2.218b as of end-2018.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia