Published:
ARA US Hospitality Trust's net income falls to US$11.9m in Q3
Year-to-date, however, the trust's income increased.
Despite higher occupancy and revenue, ARA US Hospitality Trust's net income still fell to US$11.9m in Q3.
In Q3, the trust recorded a revenue of US$48.7m (vs US$48.5m in Q2), and an occupancy rate of 71.0% (vs 70.7% in Q2).
Whilst net income dropped in Q3, the trust still saw an 80% YoY jump in its net income year-to-date.
The trust said its strong recovery momentum in the second and third quarters pushed its YTD income to US$33.0m, which is 80% higher than the same period last year.
Meanwhile, the trust also reported that in Q3 they were able to complete the sale of its five Hyatt Place hotels.
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