YTL Hospitality REIT’s 1st Quarter Revenue Increases 24% to RM112 Million & Distributable Income Grows 73% to RM31 Million

Kuala Lumpur, Thursday, 24 November 2022

YTL Hospitality REIT recorded higher revenue of RM112.3 million for the 3 months ended 30 September 2022, a 24% increase compared to RM90.2 million for the previous corresponding 3 months ended 30 September 2021. Net property income (NPI) of RM58.1 million for the current quarter under review approximated that of the same period last year, whilst income available for distribution grew 73% to RM30.9 million for the current quarter compared to RM17.9 million for the corresponding quarter last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “Revenue and NPI from the Trust’s hotel segment increased due to the reopening of international borders in early 2022, as demand from the corporate and leisure markets remained healthy in the current financial quarter. Meanwhile, distributable income increased due to the normalisation of rental after the end of the rental deferral programme on 30 June 2022”.

Comparison with preceding year corresponding quarter

 3 months ended

RM million
3 months ended

RM million

Revenue112.390.2+ 24
Distributable income30.917.9+ 73