On a same-store basis, 1HFY2023 revenue for hotel, SR and commercial spaces surpassed 1H2019 levels.
Analysts are pleased with Far East Hospitality Trust (FEHT) (SGX:Q5T
) , citing its strong y-o-y growth as the group recorded healthy results for 1HFY2023 ended June.
The group achieved a 26.9% y-o-y growth in gross revenue of $52 million with a distribution per stapled security (DPS) of 1.92 cents, an improvement of 24.7% y-o-y. 2QFY2024 revenue grew 34.1% y-o-y to $26.9 million, driven by the hotel segment with a rise of 41.2% y-o-y or $5.9 million, whilst revenue from service residence (SR) grew by $0.4 million or 16.3% y-o-y and both commercial and retail space revenue was up $0.6 million or 16.4% y-o-y.
