In his report dated Sept 22, the analyst also notes that the sub-sector is benefitting from the normalisation of leisure and business travel. Moreover, growth is supported by large-scale MICE (or meetings, incentives, conferences and exhibitions) events and enhancements to Singapore’s tourism infrastructure, he says.
UOB Kay Hian analyst Jonathan Koh is keeping his “overweight” call on the Singapore REIT (S-REIT) hospitality sub-sector.
“We see a seasonally stronger 2H2023 and continued recovery in 2024,” says Koh.
