Kuala Lumpur, Thursday 25 May 2023 

YTL Hospitality REIT registered revenue of RM126.9 million for the 3 months ended 31 March 2023 compared to RM130.1 million for the previous 3 months ended 31 December 2022. Net property income (NPI) and distributable income of RM66.9 million and RM26.2 million respectively approximated that of the previous quarter.

Meanwhile, for the cumulative 9 months ended 31 March 2023, revenue grew 43% to RM369.3 million compared to RM257.4 million recorded for the preceding corresponding 9 months ended 31 March 2022. NPI grew 21% to RM191.3 million for the 9-month period compared to RM158.1 million for the same period last year, whilst income available for distribution increased by 56% to RM84.2 million over RM53.9 million last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “In our hotels segment, the Australian portfolio showed ongoing improvement as a result of international borders reopening in early 2022, with average daily room rates and average occupancy rates also increasing across the portfolio. In our property rental segment, the Malaysian and Japanese assets returned to normalised rental from 1 July 2022 after the rental deferral programme ended on 30 June 2022”.

Comparison with preceding quarter