Hotel owner Ascendas Hospitality Trust on Monday reported a 2.9 percent rise in second-quarter distribution per stapled security (DPS), helped by growth in revenue and lower finance costs.
DPS rose to 1.42 Singapore cents in the three months ended September 30 compared to 1.38 cents in the corresponding period a year ago.
Income available for distribution rose 5.3 percent to S$17.2 million, the company said in a regulatory filing.
Net property income edged up 0.8 percent to S$24.5 million.
Gross revenue rose 5.2 percent to S$58.4 million, helped in part by the appreciation of the Australian Dollar against Singapore Dollar.
Overall RevPAR or revenue per available room, for the hotels under management contracts posted year-on-year improvement, the company said.
Performance of Park Hotel Clarke Quay in Singapore was stable amidst the competitive landscape brought about by the large inventory of rooms, it said.