Frasers Hospitality Trust NPI down 2.5% in H1 FY 2025

Gross revenue inched up 0.9% YoY.

Frasers Hospitality Trust (FHT) reported a 2.5% year-on-year (YoY) decline in net property income (NPI) to $43.5m for the first half of the financial year ended 2025.

Gross revenue rose 0.9% YoY to $63.8m, supported by contributions from newly added Koto no Hako and higher other income. However, the absence of one-off income adjustments that boosted last year’s performance, along with cost inflation, led to the NPI drop.

Distributable income fell 6.1% to $21.9m, whilst distribution per stapled security declined 6% to $0.010257, impacted by lower NPI and higher interest costs from loan refinancing.

Meanwhile, CEO Eric Gan said the trust remains focused on capital management and operational efficiency amid ongoing economic and geopolitical headwinds.

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