- Frasers Hospitality Trust (SGX:ACV)'s 1H23 (Oct 2022 to Mar 2023) gross revenue and NPI rose 41% and 43% y-o-y, respectively, to S$62.2m and S$45.2m. Same-store gross revenue and net property income (NPI) recovery would have been stronger at 68% and 77%, respectively, excluding contributions from divestments (Sofitel Sydney Wentworth).
- - Read this at SGinvestors.io -
- Underlying gross profit doubled for half of its markets y-o-y – Singapore, Australia and Germany.
- Observations by key markets:
- - Read this at SGinvestors.io -
- Australia – RevPAR tripled y-o-y and is close to reaching pre-COVID levels, boosted by the resumption of major city events in Sydney and Melbourne.
- UK – RevPAR reached 112% of pre-COVID levels, supported by domestic leisure demand ahead of business demand.
- Japan – RevPAR reached 74% of pre-COVID levels. Japan asset ANA Crown Plaza Kobe is to gradually recover alongside the resumption of MICE events in the city.
Our thoughts on Frasers Hospitality Trust
Further room for APAC international recovery.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Geraldine WONG DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-05-02
Read also DBS's most recent report:
2023-11-08 Frasers Hospitality Trust - Two Leaps Forward With Return Of MICE.
Price targets by other brokers at Frasers Hospitality Trust Target Prices.
Listing of research reports at Frasers Hospitality Trust Analyst Reports.
Relevant links:
Frasers Hospitality Trust Share Price History,
Frasers Hospitality Trust Announcements,
Frasers Hospitality Trust Dividends & Corporate Actions,
Frasers Hospitality Trust News Articles
