Travel recovery boosts Frasers Hospitality Trust’s NPI to $45.2m in 1H23
The REIT’s net property income rose by 42.9%.
Frasers Hospitality Trust (FHT) recorded a 42.9% year-on-year increase in its net property income for the first half of the financial year 2023 (1H23).
According to the REIT’s latest business update, its net property income rose to $45.2m in 1H23 amidst a further recovery in the travel out and demand in its operating markets.
The REIT’s managers said FHT’s higher gross revenue of $62.2m (41.1% YoY) boosted its NPI.
If contributions from the divested Sofitel Sydney Wentworth are excluded, the REIT’s same-store gross revenue and NPI will be 68.1% and 77.3% higher year-on-year, respectively
Given the higher revenue and NPI, FHT recorded a higher income available for distribution of $27.1m and higher distribution per stapled security of $0.012649.
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