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.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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