Hotel segment bolsters SunREIT's performance in 3Q

KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT) experienced a surge in revenue from its hotel business as the occupancy rate recovered amid an uptick in domestic and international leisure business, and full room inventory at Sunway Resort Hotel since July 2023.

The segment's performance underpinned the overall performance of SunREIT, which reported a net profit of RM91.97mil in 3Q23, on a par with RM91.91mil posted in 3Q22, resulting in an unchanged earnings per share of 2.54 sen.