NEWS & PRESS RELEASES
YTL Hospitality REIT Registers 3rd Quarter Revenue of RM79 Million & Distributable Income of RM19 Million
Kuala Lumpur, Friday 28 May 2021
YTL Hospitality REIT recorded revenue of RM79.0 million for the current quarter ended 31 March 2021 compared to RM78.8 million for the previous quarter ended 31 December 2020. Net property income stood at RM48.4 million for the current quarter compared to RM49.1 million last quarter, whilst income available for distribution increased to RM19.0 million for the quarter under review compared to RM17.4 million for the last 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, "Revenue from the hotel segment for the current quarter approximated that of the preceding quarter due mainly to the participation of the hotels in our Australian portfolio in the government isolation group business. However, the decrease in the net property income from the Australian properties was due to the cessation of government subsidies for the Brisbane Marriott from October 2020 onwards.
"In our property rental segment, revenue and net property income from the Malaysian and Japanese properties for the current quarter ended 31 March 2021 remained relatively consistent with the previous quarter ended 31 December 2020."