- We maintain our BUY ratings on CapitaLand Integrated Commercial Trust, Frasers Centrepoint Trust as well as CDL Hospitality Trusts, CapitaLand Ascott Trust, Far East Hospitality Trust and Frasers Hospitality Trust.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Hotel stats slip in April but still up on the year
- International visitor arrivals in April slowed to 1.36m following the high of 1.48m in March. Consequently, room rates and RevPAR fell 6.6% and 13.6% from March. The performance was down across all the hotel categories from the prior month. Only luxury and upscale categories managed to grow their RevPARs on a y-o-y basis.
- Notwithstanding the slowdown in April, performance is still up from the prior year. Room rates and RevPAR are up 3.2% and 2.8%, respectively.
- Year-to-date visitor arrivals stood at 5.71m, +41% y-o-y and we view STB’s 2024 target of 15-to-16m visitor arrivals as achievable.
- We maintain our view of 2024 RevPAR growth of 3% y-o-y to S$232 (2023 S$226, year-to-date 232) led by occupancy.
April retail sales slow, year-to-date sales flat; F&B holding up
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2024-06-06
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