In a Wednesday report, lead analyst Deborah Ong notes that all hospitality trusts under OCBC’s coverage which have announced their latest set of earnings so far have registered declines for full-year revenue per available room (RevPAR) growth.
SINGAPORE (Feb 9): OCBC Investment Research maintains its “neutral” stance on Singapore’s hospitality industry with OUE Hospitality Trust (OUE HT) as its top and only “buy” pick in the sector with a fair value estimate of 75 cents, as it is expected to be buffered by organic contributions from its recent acquisition.
Under the research house’s coverage, Ascott Residence Trust (ART), CDL Hospitality Trusts (CDREIT) and OUE HT have announced their FY16 results, while Far East Hospitality Trust (FEHT) is due to announce theirs prior to trading hours on Feb 22. All three REITs have a “hold” rating with the respective fair values of $1.22, $1.46, and 62 cents respectively.
