On 17th June I wrote an analysis to my lovely lonely patreon subscriber. Below is the same analysis that was shared, I removed one part of “my take” portion. As you would have already known, hospitality trust would be one of the heaviest impacted industry. However, they will still survive.  Why? Income from quarantine individuals were placed there (primary source) with food catering (secondary source) of revenue. Post-market recovery will increase hotel booking as businesses still have to be made.  A parent company with good track credit history allows good refinancing rates on top of ever rising land/property valuation in Singapore. Fundamentals (2014 – 2019) Currently managing 13 properties; 9 hotels and 4 serviced residence which brings the total portfolio value to $2.65 billion.  This year is a crucial year as 57% of their leases are expiring and 27% in the next – which means, if it fails to renew the...