Hotel Property Investments Defers Rent Amid COVID-19

  • May 01, 2020 AEST
  • Team Kalkine

Hotel Property Investments Ltd (ASX:HPI), in its principal tenant rental update has confirmed to delay part of the rent for the period April 2020 to September 2020 in a commercial agreement with its principal tenant, Queensland Venue Company (QVC). The rent deferred totals to $7.5 million excluding GST.

The move came after social distancing and lockdown measures imposed by the Australian government due to COVID-19 closed hotels and bars resulting in constrained operations for the company’s tenants.

The full deferred rent amount will be paid to HPI between February 2021 and June 2022.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK