Far East Hospitality Trust (FEHT) recorded a gross revenue of $30.4 million for the third quarter of FY2025, marking a 5.7% year-on-year increase.

The growth was driven by contributions from the trust's newly acquired hotel in Japan, which generated $2.7 million, along with higher commercial premises and other income, rising 5.1% YoY to $4.6 million.

However, revenue from its Singapore hotels declined by 7.2% YoY to $22.9 million, while serviced residences revenue also dropped by 4.2% YoY to $2.9 million.

Net property income (NPI) for the quarter decreased by 1% YoY to $25.9 million, while finance expenses fell by 27.9% YoY to $5.6 million due to a lower average cost of debt.

For the first nine months of FY2025, gross revenue declined by 0.7% YoY to $81.9 million, and NPI dropped by 5.4% YoY to $71.6 million.

As of September 30, FEHT's gearing ratio stood at 33.7%, with an interest coverage ratio of 3.3 times.

In 3QFY2025, average occupancy for FEHT's Singapore hotels improved by 1 percentage point YoY to 86.5%. However, the portfolio's average daily rate (ADR) fell by 5.4% YoY to $171, and revenue per available room (RevPAR) declined by 4.3% YoY to $148.

In contrast, the Japan hotel's RevPAR rose by 13.5% YoY to JPY8,409, while gross operating profit surged by 27.2% YoY to JPY75.6 million.

Average occupancy for Singapore serviced residences dipped by 0.2 percentage points YoY to 87.8%, with ADR declining by 2.8% YoY to $270 and revenue per available unit (RevPAU) falling by 3% YoY to $237.

FEHT units closed at 61.5 cents on October 29, up 0.5 cents or 0.82% for the day.