YTL Hospitality REIT Registers 2nd Quarter Revenue of RM79 Million & Distributable Income of RM17 Million

Distribution of 1.8105 Sen per Unit Declared

Kuala Lumpur, Thursday 25 February 2021 

YTL Hospitality REIT recorded revenue of RM78.8 million for the current quarter ended 31 December 2020 compared to RM79.0 million for the previous quarter ended 30 September 2020. Net property income (NPI) stood at RM49.1 million in the current quarter under review over RM53.0 million for the previous quarter, whilst income available for distribution increased to RM17.4 million for the 3 months ended 31 December 2020 compared to RM16.8 million for the previous quarter.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “In the Trust’s hotel segment, revenue recorded from the Australian portfolio this quarter remained consistent with last quarter mainly due to participation of the Trust’s hotels in the Australian Government’s isolation programmes. However, the Australian portfolio incurred a decrease in NPI due to the cessation of government subsidies received by the Brisbane Marriott from October 2020.

“Meanwhile, in the property rental segment, revenue and NPI from the Malaysian and Japanese Properties remained at similar levels as compared the previous financial quarter.” 

The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.8105 sen per unit for the 6 months from 1 July 2020 to 31 December 2020, the book closure and payment dates for which are 11 March 2021 and 31 March 2021, respectively. The total income distribution amounts to RM30.9 million, representing approximately 90% of the total distributable income for the financial period ended 31 December 2020.