Frasers Hospitality Trust's NPI grew 6.8% to $33.2m

All of its portfolio recorded higher gross operating profit.

Frasers Hospitality Trust (FHT) saw its net property income (NPI) rise 6.8% YoY to $33.2m in Q1 FY2020, the company announced. Revenue also climbed 4.3% to $42.4m over the same period.

Distributable income grew 7.4% YoY to $25.5m, with distribution per stapled security (DPS) expanding 6.1% at 1.33 cents.

The gross operating revenue (GOR) and profit (GOP) of its Australia portfolio grew 1.9% and 5.4% YoY respectively, the former attributed to higher food and beverage (F&B) revenue. Portfolio occupancy also rose to 90.3% from 88.7% a year ago.

The GOR and GOP for its Singapore portfolio also edged up 2.6% and 2%, respectively, with RevPAR improving 6.9% on the back of higher average daily rate (ADR) and occupancy. Both InterContinental Singapore and Fraser Suites Singapore saw gains in RevPAR.

The UK portfolio also saw its GOR rise 5.5% and GOP expand 7.3%, as it continued benefit from the weak pound. RevPAR grew 4.9% due to higher ADR and occupancy.

ANA Crowne Plaza Kobe in Japan recorded a 3.3% decline in GOR, no thanks to lower room and F&B revenue. Its GOP jumped 13.1% as it reviewed and re-grouped resources to streamline its operations.

Meanwhile, the Westin Kuala Lumpur’s GOR improved 7.5% as it continued to recover from a market-wide low base. With the 11.5% increase in room revenue, reduction in operating costs and the launching of a sustainability drive, its GOP rose 46.4%.

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