- RevPAR for Far East Hospitality Trust’s hotels grew 7.7% y-o-y to S$140 in 4Q24, driven by higher ADR as hotels that exited government contracts ramped up. Revenue from commercial premises grew 4.8% y-o-y.
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- S$3.0m to offset the change in the proportion of fees paid with new units, and
- S$4.0m in gains from the divestment of Central Square.
Hotels: Benefitting from higher ADR.
- Average daily rate (ADR) increased 6.5% y-o-y to S$180 in 4Q24. Occupancy was stable y-o-y at 81.5% in 2H24. Oasia Hotel Novena and Village Hotel Albert Court exited government contracts in Oct 23 and Dec 23 respectively. Smooth ramp-up at the two hotels contributed to improvements in the hotels’ overall operating performance.
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Hotels generated organic growth.
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