Published:
OUEHT's income from Crowne Plaza Changi up 43% to $4.3m
This is on the back of a higher room count.
OUE Hospitality Trust's enlarged Crowne Plaza Changi continues to make good contributions to the trust.
According to DBS Group Research analyst Mervin Song, the 243-room extension of the airport hotel boost the property's income by 43% YoY to $4.3m.
Meanwhile, its occupancy rate is now tracking the mid-70% up from 60% range when the extension was first opened.
Additionally, income for the property was further boosted by $1.6m worth of income support. Thus far, close to $6m in income support has been drawn down out of $7.5m.
Read Here
Advertise
Sign Up
