According to the Zhitong Finance App, Regal Real Estate Trust (01881) announced its 2023 annual results, with net rent and hotel revenue of HK$599 million, a year-on-year decrease of 0.3%; adjusted losses of HK$128 million, while unitholders obtained funds should account for HK$205 million in distributable income during the same period in 2022; not taking into account unitholders' profit for the year before allocation was HK$266 million, a year-on-year decrease of 71.4%.

The initial total basic rent for the hotel in 2024 has been set at $544 million, which is approximately 13.3% or HK$64 million higher than the total basic rent for 2023. The floating rent will continue to be calculated on the basis that the initial hotel's total net property income exceeds 50% of its total basic rent.

The total basic rent for the three rented Fuhui hotels has been determined to be HK$118 million for 2024, which is approximately 28.3% or HK$26 million higher than the total basic rent in 2023. The variable rent is also calculated based on individual hotels' net income exceeding 50% of the basic rent portion.

The REIT manager is optimistic that Hong Kong's travel and hospitality market will continue to recover. REIT managers are also confident that when interest rates in Hong Kong gradually return to a more normal level, Regal REIT will be able to resume allocations to unitholders.