• Portfolio remains 100% occupied with ongoing venue enhancement program
• Robust balance sheet with gearing at lower end of target range
• Upgraded full year distribution guidance to 19.7 cents per security

Hotel Property Investments has released its H1 FY25 results, showcasing a robust performance across its portfolio. The company's portfolio remains 100% occupied, with ongoing progress on its venue enhancement program, including completed refurbishments and redevelopments. HPI has also strengthened its balance sheet, with gearing at the lower end of its target range and refinanced bank debt facilities to achieve annual cost savings. The company has upgraded its full year distribution guidance to 19.7 cents per security, representing a 3.7% growth from FY24 and placing it in the top quartile of its peer group. Key financial highlights include a 1.6% increase in rental income, a 0.6% rise in operating profit, and a 6.5% growth in Adjusted Funds From Operations (AFFO). HPI is well-positioned to deliver attractive growth to securityholders, with multiple levers to drive earnings and distribution growth, including secure income profiles, lease structures, and portfolio optimization initiatives.

HPI re-affirms distribution guidance of 19.7 cents per security for FY25.

HPI will continue to review the portfolio with a view to increasing distributions, whether by divesting properties and recycling the proceeds, developing properties, or acquiring new properties at appropriate prices.