- Frasers Hospitality Trust (SGX:ACV) released 3QFY24 operations data. Year-to-date, RevPAR in Japan, Malaysia and Australia rose from 9M23 levels. In key markets, occupancy drove growth, while sector headwinds such as moderation in leisure transient demand and softening consumption continued to pressure room rates.
- - Read this at SGinvestors.io -
Navigating headwinds
- For 3QFY24, RevPAR grew y-o-y in most markets for Frasers Hospitality Trust except for Singapore. Coming off a higher base in 3Q23, occupancy and ADR both normalized due to the strong S$, new supply and as demand eases.
- - Read this at SGinvestors.io -
- In Australia, events in Sydney and Melbourne underpinned stable occupancy year-to-date. Management notes that the Melbourne market will take some time to further absorb the new supply.
- RevPAR in the UK rebounded strongly in 3Q24 due to peak summer season demand, while year-to-date performance (-2.6%) was consistent with the dynamics of normalizing growth.
Green shoots in Japan and Malaysia markets
- 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/.
Li Jialin Maybank Research | https://www.maybank-ke.com.sg/ 2024-08-07
Read also Maybank's most recent report:
2024-11-13 Frasers Hospitality Trust - New Growth Drivers; Better-than-expected Topline.
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
