They further highlight that 2QFY2023’s revenue generated per room (RevPAR) in most geographies were 100% to 127% of 2QFY2019 levels, except New Zealand, China and Vietnam, which underperformed.
CGS-CIMB Research analysts Natalie Ong and Lock Mun Yee are reiterating their “overweight” rating on hospitality S-REITs on strong tourism recovery, with CapitaLand Ascott Trust (CLAS) (SGX:HMN
) as their top pick.
In their July 28 report, the analysts note that CLAS, CDL Hospitality Trust (CDLHT) (SGX:J85) and Far East Hospitality Trust (FEHT) (SGX:Q5T) delivered 1HFY2023 y-o-y DPU growth of 19.3% to 23.3% as higher interest cost was offset by stronger operating performance.
