ARA US Hospitality Trust hit by 4.4% YoY NPI drop on revenue shortfall

Its revenue slipped 2.4% YoY in H1 2024.

The net property income (NPI) for ARA US Hospitality Trust decreased by 4.4% YoY to US$21.0m ($27.9m) in H1 2024, attributed to a shortfall in gross revenue.

Gross revenue for the period slipped 2.4% YoY to US$83.9m ($111.5m).

The REIT attributed its revenue decline to interruptions from asset enhancement initiatives (AEI) projects at four hotels: Hyatt Place Mystic, Hyatt Place Rancho Cordova, Hyatt Place Omaha and Hyatt Place Secaucus.

"The lower gross revenue was also due to the dispositions of Hyatt Place Oklahoma City Airport and Hyatt Place Pittsburgh Airport in September 2023 and March 2024, respectively," the REIT said.

Excluding the contributions from these six hotels, same-store gross revenue and NPI increased by 2.8% YoY and 2.2% YoY, respectively.

Follow the link for more news on

ARA US Hospitality Trust

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