149
ANNUAL REPORT 2014
25 OPERATING SEGMENTS (CONT’D)
Information about reportable segments (cont’d)
New
Singapore Zealand
Australia
Maldives
Hotels
Hotel
Hotels
Resorts
Others
Total
$’000
$’000
$’000
$’000
$’000
$’000
2013
Stapled Group
Gross revenue - external
105,745
9,723
18,480
9,961
4,873 148,782
Reportable segment net
property income
96,553
9,723
18,480
8,995
3,638 137,389
Unallocated items:
- H-REIT Manager’s base fees
(5,547)
- H-REIT Manager’s
performance fees
(6,859)
- H-REIT Trustee’s fees
(256)
- Valuation fees
(174)
- Other charges
(1,514)
- Finance income
419
- Finance expense
(17,057)
Net income before fair valuation
106,401
Net change in fair value of
investment properties
9,400
9,420
1,210
8,524
8,002
36,556
Net income
142,957
Reportable segment assets
Capital expenditure on
investment properties
10,700
–
–
999
1,998
13,697
Non-current assets^
1,647,500
100,816
233,993
178,461
78,000 2,238,770
^ Excluding rental deposit
Major customers
H-REIT Group’s properties, except Claymore Connect, are leased to ten (2013: nine) master lessees.
The contribution of these master lessees to the gross revenue of the H-REIT Group was $149,809,000
(2013: $143,909,000). Such revenue is attributable to the Singapore hotels segment, New Zealand hotel segment,
Australia hotels segment and Maldives resorts segment.
Subsidiaries of Millennium & Copthorne Hotels Plc accounted for approximately $82,254,000 (2013: $82,869,000)
or 54.2% (2013: 55.7%) of the gross revenue of the H-REIT Group. Subsidiaries of Accor S.A. contributed $39,045,000
(2013: $41,356,000) or 25.8% (2013: 27.8%) to the gross revenue of the H-REIT Group.
NOTES TO THE FINANCIAL STATEMENTS
