Meanwhile, Serviced Residences (SR) RevPAU – which is more dependent on corporate demand – fell 9.9% y-o-y for ART’s Singapore-based SR portfolios and 3.4% y-o-y for FEHT.
SINGAPORE (Dec 1): OCBC Investment Research is maintaining a “neutral” rating on Singapore’s hospitality sector, given currently rich valuations.
For the four counters – Ascott Residence Trust (ART), Far East Hospitality Trust (FEHT), OUE Hospitality Trust (OUEHT) and CDL Hospitality Trust (CDLHT) – that the research house covers, 3Q17 y-o-y growth in hotel RevPAR ranged between –1.4% to 8.0%.
