In a Bursa Malaysia filing on Tuesday, YTL REIT said the lessees of its AC hotel chain are agreeable to the increase in annual rental for all three hotels amounting to a collective RM2.
Hotel Stripes Kuala Lumpur, Autograph Collection is a five-star hotel, located along Jalan Kamunting in Kuala Lumpur.
On prospects, the REIT expects the hospitality industry to stay relatively buoyant amidst risks of higher inflation, interest rate hikes, and other economic challenges.
Its property investment and development saw loss before tax narrowed due to the absence of a rental deferral programme which ended June 30, 2022, and the absence of unrealised foreign exchange loss on borrowings denominated in foreign currencies by YTL Hospitality REIT.
CIDB’s Ahmad Asri said that the growing global population also demands consideration of how buildings are constructed, the materials used to create them, and the expected efficiency of the finished buildings.
YTL Hospitality Real Estate Investment Trust's (YTL REIT) net property income (NPI) rose to RM66 million in 2QFY23 from RM55 million in the preceding quarter, while income available for distribution increased to RM27 million from RM17.
This was due to normalization of rental after the end of the rental deferral program on June 30, 2022.
We have reinforced the operational efficiency and strength of our existing operations while moving ahead with strategic new businesses, and are well prepared to meet the future.
Improved results in the property segment were due mainly to higher sales, while our hotels division continued to see better results following the gradual recovery of the tourism and hospitality sectors as the year progressed.
KUALA LUMPUR (May 27): YTL Corp Bhd reported a net profit of RM414.