YTL Hospitality REIT's Half-Year Revenue Grows to RM217 Million
Distributable Income Increases 17% to RM56 Million
Interim Distribution of 1.9786 Sen per Unit Declared
Kuala Lumpur, 20 February 2014
YTL Hospitality REIT achieved revenue of RM217.3 million for the 6 months ended 31 December 2013, an increase of 154.9% compared to RM85.2 million for the preceding corresponding 6 months ended 31 December 2012, due mainly to the recognition of revenue generated by the Trust's Sydney Harbour, Melbourne and Brisbane Marriott hotels in Australia.
Meanwhile, distributable income grew to RM55.8 million for the half-year over RM47.5 million last year, representing an increase of 17.45% after adjustments relating mainly to depreciation charges for the Trust's Marriott hotels in Australia.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9786 sen per unit, the book closure and payment dates for which are 7 March 2014 and 27 March 2014, respectively.
The Trust's income distribution for the quarter under review amounts to RM26.2 million, whilst the total cumulative income distribution paid and declared for the half-year ended 31 December 2013 is 3.8961 sen per unit, amounting to RM51.6 million, which represents approximately 95% of the distributable income for the quarter under review and 92% of the total distributable income for the 6 months ended 31 December 2013.