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Far East Hospitality Trust's Distributable Income Up 12% in Q1

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-- Far East Hospitality Trust's (SGX:Q5T) distributable income jumped 12% in the first quarter to SG$17.9 million from SG$16.0 million a year earlier, according to a Thursday filing with the Singapore Exchange.

Net property income edged up 3.4% to SG$23.8 million from SG$23.0 million in the year-ago period.

Gross revenue surged 11% year over year to SG$28.1 million from SG$25.2 million, backed by strong growth from the hotels segment.

Average occupancy rate rose by 2.7 percentage points year over year to 76.3% from 73.6%, while revenue per available unit increased by 3.8% year over year to SG$214 from SG$206.

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