Revenue for the period declines 5.2% year on year to US$84.9 million from US$89.5 million previously
ACROPHYTE Hospitality Trust’s distribution per stapled security (DPS) for the half year ended December 2024 was down 46.7 per cent at US$0.01026, from US$0.01929 in H2 FY2023.
The distribution will be paid out on Mar 28, after the record date on Mar 7, reported the stapled group’s managers on Thursday (Feb 27).
Its H2 revenue declined 5.2 per cent year on year to US$84.9 million from US$89.5 million in the year-ago period.
Meanwhile, its net property income (NPI) dropped 9.2 per cent to US$23.3 million from US$25.7 million previously.
The top-line decline came on the back of a reduction in portfolio size due to the disposition of hotels and asset enhancement initiative projects in 2024, which resulted in a lower number of rooms available for sale, the manager said.
Acrophyte Hospitality Trust was previously known as ARA US Hospitality Trust.
The trust’s income available for distribution stood at US$5.9 million, down 46.7 per cent from US$11.2 million in the previous corresponding period.
Its net asset value per stapled security as at end-2024 fell marginally to US$0.73 from US$0.74 as at end-2023.
Stapled securities of Acrophyte Hospitality Trust ended Wednesday 2.2 per cent or US$0.005 lower at US$0.22.
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