Far East Hospitality Trust's Net Property Income Slides 8% in Q1

MT Newswires

04/30

Far East Hospitality Trust's (SGX:Q5T) net property income or NPI declined by 8.3% in the first quarter of the year to SG$23.0 million from SG$25.1 million a year earlier, according to a filing with the Singapore Exchange on Tuesday.

Gross revenue dropped by 6.8% year over year to SG$25.2 million from SG$27.1 million, mainly due to lower master lease revenue from the hotels and serviced residences.

Average occupancy remained firm at 79.0% during the period, resulting in a 6% year on year decline in revenue per available room or RevPAR to SG$135.

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