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

Staff reporter

, Singapore

This increase is explained by the increase in revenues and gross operating profit of the trust.

Net profit of SGX-listed ARA US Hospitality Trust (ARA H-Trust) jumped 131.2% year-on-year to US$21.2 million ($29.27 million) in the first half of 2022, according to its latest financial statements.

According to ARA H-Trust executives, the increase in the trust’s net profit was due to higher revenue and gross operating profit, which rose 53.8% year-on-year to reach $81.3 million ($112.25 million) and up 95.0% year-on-year to $27.6 million ($38.1 million).

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

“We were delighted to resume distributions for 2H 2021. Our DPS for 1H 2022 has increased significantly with the continued recovery of our operational performance,” said Lee Jin Yong, CEO of REIT Executives.

ARA H-Trust is expected to continue to outperform for the remainder of the year on “a robust recovery in US hosting, supported by pent-up demand and pricing strength.”

“I am optimistic about the future performance of ARA H-Trust. Strengthening revenues combined with the highly efficient cost structure of select-service hotels should improve returns and provide value for long-term investors. Therefore, ARA H-Trust’s diverse portfolio of premium branded premium services provides our stapled titleholders with an optimal long-term U.S. hosting strategy,” said said Lee.

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