Kuala Lumpur, Tuesday 26 November 2024

YTL Hospitality REIT’s revenue increased marginally to RM132.7 million for the 3 months ended 30 September 2024 compared to RM130.9 million for the previous corresponding 3 months ended 30 September 2023. Net property income (NPI) increased to RM68.9 million for the current quarter under review compared to RM68.3 million for the same period last year, whilst income available for distribution stood at RM26.5 million for the current quarter, approximating the same quarter last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “Hotel segment revenue for the current quarter remained relatively consistent with the corresponding quarter last year although NPI was slightly impacted by higher property operating expenses incurred in the guest room maintenance programme at the Sydney Harbour Marriott.

“Meanwhile, the property rental segment registered higher revenue and NPI due mainly to new rental income from Hotel Stripes, step-up rental income from the renewal of the lease agreement with the JW Marriott Hotel and additional rental income from the AC hotels in Kuala Lumpur, Penang and Kuantan following completion of refurbishment works in the preceding quarter.”

Comparison with Preceding Year Corresponding Quarter