Frasers' Hospitality Trust DPU climbs 8% to 1.2 cents for Q3

Newly acquired hotels abroad improved the company's performance.

Despite poor performance in Singapore, Frasers Hospitality Trust's (FHT) distribution per unit (DPU) climbed up 8.1% YoY to 1.2 cents for Q3.

According to DBS Equity Research, net property income (NPI) also jumped 8.5% from $27m to $29.3m, whilst gross revenue rose 22.6% from $31.7m to $38.9m.

Newly acquired Novotel Melbourne on Collins and better performance across FHT properties except those in Intercontinental Singapore improved the company's NPI and revenue, DBS said.

Higher operating expenses beat higher revenue per available room (revPAR) in FHT's Singapore properties, making NPI in the area fall by 20%.

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