OUE Hospitality Trust's 31.5% DPU boost is highest for S-REITs in Q2

Hospitality and retail segments boosted its revenue by 16.0%.

OUE Hospitality Trust's (OUEHT) distribution per unit (DPU) climbed up by 31.5% YoY to 1.2 cents.

"OUEHT’s spectacular YoY DPU growth is the highest posted by S-REITs under our coverage thus far," OCBC Investment Research said in a report.

Higher contributions from its Hospitality and Retail segments boosted its revenue by 16.0% to $31.2m.

This growth was also reflected in the net property income (NPI), which rose 15.0% to $26.6m.

Revenue per available room (RevPAR) also increased 5% to $210.

MOS' occupancy also grew by three to four ppt to a mid-80% range.

"From what we understand, a stronger leisure segment helped to buoy rates; corporate demand continues to remain soft albeit stabilized," OCBC Research Team said.

Occupancy at Crowne Plaza Changi Airport (CPCA) also increased from the 60% range to mid-70% for Q2.