While demand for hotel accommodation was firmer over the quarter, with average occupancy rising 1.9 percentage points to 87.1% from 85.3% in 2Q16 due to the REIT’s shift towards the leisure segment, the average daily rate fell by 0.6% to $154 compared to $160 a year ago, resulting in a corresponding revenue per available room (RevPAR) decreased of 1.3% to $134 for the hotel portfolio.
SINGAPORE (Aug 4): The manager of Far East Hospitality Trust (FEHT) has declared a distribution per stapled security (DPS) of 0.97 cent for the 2Q17 ended June, down 4% from the 1.01 cents DPS posted in 2Q16 due to lower revenue.
Gross revenue for the quarter fell 1% to $25.9 million from $26.1 million a year ago due to lower contributions from both its hotels and serviced residence (SR) segments.
