11:59 PM EDT, 08/04/2021 (MT Newswires) -- ARA US Hospitality Trust (SGX:XZL) did not register a distributable income in the first half after deducting loan interest, other trust expenses and capex reserve, the same as last year.
Shares dropped 3% on Thursday noon.
The stapled group said Wednesday that while its performance improved, the recovery of the US hospitality industry was still in the early stages.
Total revenue rose 34.3% on an annual basis to $52.8 million from $39.3 million, thanks to higher portfolio occupancy. Net property income amounted to $9.1 million, reversing the $2 million net property loss in the first half of 2020.