Frasers Hospitality Trust (FHT) is a stapled trust comprising Frasers Hospitality REIT and Frasers Hospitality Business Trust. FHT owns a portfolio of 15 hotels and serviced residences located across nine cities in Asia, Australia, and Europe. As of 31 December 2017, FHT’s portfolio was valued at S$2.16 billion.
I attended FHT’s annual general meeting to find out more about the Trust’s past financial year’s performance and its outlook for the year ahead.
Here are seven things I learned from the 2018 Frasers Hospitality Trust AGM.
1. Gross revenue increased 28.4% year-on-year to S$158.7 million and net property income (NPI) rose 15.3% to S$120.2 million. This was mainly due to the additions of Novotel Melbourne on Collins and Maritim Hotel Dresden to the portfolio, and better all-round portfolio performance. Australia and Singapore accounted for 41% and 21% of NPI respectively.
2. Distributable income rose 10.0% …