- Frasers Hospitality Trust's DPU for FY24 declined by 7.5% y-o-y due to higher withholding tax arising from its Australia subsidiary and rising financing costs. FY24 DPU of S$2.2592 cents, achieving 98.8% of MIBG’s estimate.
- - Read this at SGinvestors.io -
Normalisation in key markets
- In FY24, the Singapore, Australia and UK portfolios accounted for 77% of Frasers Hospitality Trust’s gross revenue.
- The Singapore portfolio saw a 3.4ppt drop in occupancy y-o-y and a 2% decline in ADR. Management observed weaker demand across the overall Singapore market. Supply of residential projects coming onstream this year also increased competition for long-stay businesses.
- - Read this at SGinvestors.io -
- UK’s RvePAR remained largely stable y-o-y. Management remains cautious about the moderating momentum across the UK portfolio and an increase in supply in the market. Management will continue to focus on maintaining ADR while driving occupancy opportunistically.
Continued recovery driving demand
- 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.com/ 2024-11-13
Previous report by Maybank:
2024-08-07 Frasers Hospitality Trust - Demand Patterns Shifting; Performance Normalising.
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
