OUE Hospitality Trust's net property income up 0.3% to $25.7m in Q1
Thanks to Crowne Plaza Changi Airport.
OUE Hospitality Trust reported that its net property income grew 0.3% year-on-year to $25.7m in the first quarter, thanks to contribution from Crowne Plaza Changi Airport (CPCA) and higher retail revenue from Mandarin Gallery.
The acquisition of CPCA has increased the income and enhanced the diversification of OUE H-Trust as it reduces the reliance of OUE H-Trust’s income stream on any single property.