First Sponsor's (SGX:EB5) European property portfolio booked a net operating income of 7.8 million euros in the first quarter of the year, unchanged from a year earlier, according to a Monday filing with the Singapore Exchange.
The property investment firm expects portfolio income to be enhanced following the opening of a hotel in Italy and the expected completion of two properties in the Netherlands.
Meanwhile, overall occupancy rose to 57.1%, while portfolio average daily rate edged down by 0.6% to 120.4 euros.
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