Far East Hospitality Trust announces its 3Q 2015 results on 3rd November 2015.
Key Financial Indicators
Gross revenue fell 4.8% to S$29.7 million in 3Q 2015 as compared to S$31.1 million in 3Q 2014. DPU fell 9.1% from 1.32 to 1.20.
Portfolio
Far East H-REIT has a portfolio of 12 Singapore properties consisting of 8 hotels and 4 serviced residences.
Hotels
- Oasia Hotel
- Orchard Parade Hotel
- Rendezvous Hotel Singapore
- The Elizabeth Hotel
- The Quincy Hotel
- Village Hotel Albert Court
- Village Hotel Bugis
- Village Hotel Changi
Serviced Residences
- Regency House
- Village Residence Clarke Quay
- Village Residence Hougang
- Village Residence Robertson Quay
Occupancy
Although occupancy for hotels is higher in 3Q 2015, the average daily rate is lower.
Both occupancy and average daily rate for serviced residences in 3Q 2015 is lower as compared to 3Q 2014.
Outlook
From the press release, Far East Hospitality mentioned that for the first eight months of 2015, international visitor arrivals to Singapore declined 0.6% year-on-year. However there are signs of recovery from the month of July to August 2015.
Singapore government is continuing its efforts to strengthen Singapore as a choice travel destination. Over the next twelve months, there are major events like Singapore Airshow, Food & Hotel Asia and World Rugby Sevens Series held in Singapore.
There are new and upcoming developments and events that can possibly give the tourism sector a boost
- KidZania (end 2015)
- Changi Terminal 4 (2017) and Project Jewel (2018)
- Novena Health City (2018)
- Mandai Makeover (2020)