Acrophyte Hospitality Trust's (SGX:XZL) net property income declined 4% year over year in the January-September period to $33.8 million from $35.2 million, according to a filing with the Singapore Exchange on Thursday.
Gross operating profit was down nearly 5% year over year to $46.3 million from $48.7 million.
Meanwhile, the trust's revenue slipped nearly 4% year over year to $129.4 million from $134.6 million.
The trust attributed its lower NPI to the divestment of three properties and lower revenue contribution from hotels that were part of its asset enhancement initiatives.
Meanwhile, RevPAR for the third quarter came in at $107 compared to $106 in the previous quarter while occupancy stood at 66.8%.
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