Hotel trusts head comeback
A strong recovery in hotel property helped the listed property trust sector outper-form equity markets in the three months to September 30.
A strong recovery in hotel property helped the listed property trust sector outper-form equity markets in the three months to September 30.
The three listed property trusts focussing on hotels returned an average of 7 per cent over the quarter, after the sector being battered by low confidence over the past year. According to Ausbil Dexia, the listed property trust index rose 1.9 per cent over the quarter, compared to the S&P/ASX 200 which rose 0.55.
For the year to September 30, listed property trusts rose 9.1 per cent, well down on the All Ordinaries Accumulation index which was up 17.2 per cent.
Industrial, commercial and diversified listed property trusts all returned between 2 and 3 per cent over the quarter. The best performing trust was the MTM Enter-tainment Trust with 29.8 per cent growth while the worst was the Macquarie Lei-sure Trust which was down 4.9 per cent.
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