Far East Hospitality Trust (“FEHT”) announces its 4Q2015 results on 24th February. Distribution Per Unit (“DPU”) for 4Q2015 fell 8.6% to 1.17. The
annualised DPU fell 10.5% to 4.60 cents.
Net Property Income fell 4.9% as compared to 4Q2014.
Unless tourism picks up, I am expecting the hospitality sector to be soft and DPU to fall further for FEHT.
|
4Q2015
(S$’000) |
4Q2014
(S$ ‘000) |
YoY(%) |
| Gross Revenue |
28,851 |
30,280 |
(4.7) |
| Net Property Income |
26,289 |
27,652 |
(4.9) |
| Distributable Amount |
20,649 |
22,858 |
(9.7) |
| Distribution Per Unit (“DPU”) (cents) |
1.17 |
1.28 |
(8.6) |
| Annualised DPU (cents) |
4.60 |
5.14 |
(10.5) |
Occupancy
Hotels
The revenue per available room (“RevPAR”) of the hotel portfolio fell 4.4% year-on-year to $146 in 4Q 2015, mainly due to a 7.6% year-on-year decrease in the average daily rate (“ADR”).
Serviced Residences
The revenue per available unit ......
