Far East Hospitality Trust 3Q24 - UOB Kay Hian 2024-11-04: Healthy Seasonal Strength Driven By Chinese Tourists

• Far East Hospitality Trust (FEHT) (FEHT) provided its 3Q24 business update with gross revenue and NPI declining 4.8% and 6.8% y-o-y respectively.

Hotels: Steady rise in RevPAR.

• - Read this at SGinvestors.io -
• Oasia Hotel Novena and Village Hotel Albert Court exited government contracts in Oct 23 and Dec 23 respectively. The two hotels continued to ramp up, which resulted in an improvement in the hotels’ overall operating performance. RevPAR for Far East Hospitality Trust's hotels grew 2.8% y-o-y to S$154 in 3Q24.

3Q23 boosted by one-off revenue.

• - Read this at SGinvestors.io -

Benefitting from return of Chinese tourists.

• Far East Hospitality Trust’s upscale and mid-tier hotels captured a bigger slice of the surge in Chinese tourists. Chinese guests accounted for 20% of its hotel guests, which is double the contribution compared with pre-pandemic levels.
• Management expects demand from Chinese tourists to remain healthy due to the increase in number of flights and the mutual visa-free arrangement.

Serviced Residences: Higher ADR from more short-stay guests.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-18 Far East Hospitality Trust - Continued Recovery Driven By New Attractions & MICE Events.

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