“Naturally, hospitality trusts tend to be most affected,” says Credit Suisse in a Feb 3 report. During a results briefing by Ascott Residence Trust (ART), Beh Siew Kim, CEO of ART’s manager acknowledged that the trust experienced cancellations, in particular for short-term stays in China.
SINGAPORE (Feb 7): The outbreak of the novel coronavirus is likely to affect REITs with exposure to Singapore’s hospitality sector. This is no surprise, given Chinese visitors comprised around 24% of total visitors for the 11 months to Nov 30, 2019.
The Immigration and Checkpoints Authority (ICA) has announced that from Feb 1, 2020, 2359hrs, all new visitors, regardless of nationality, with recent travel history to mainland China within the last 14 days, will not be allowed entry into, or transit through, Singapore.
