Gross revenue for the FY2023 grew by 27.8% y-o-y to $106.8 million due to improvements across all segments. During the year, FEHT saw higher master lease rental from its hotels and serviced residences (SRs). All properties on the master lease rental performed above the minimum fixed rent, achieving variable rents similar to that of 2019. FEHT also reported higher revenue from its retail and office spaces, which grew by 9.2% y-o-y to $16.2 million.
Far East Hospitality Trust (FEHT) has reported a distribution to stapled securityholders (DPS) of 4.09 cents for the FY2023 ended Dec 31, 2023, 25.1% higher y-o-y. DPS for the 2HFY2023 also rose by 25.4% y-o-y to 2.17 cents.
The higher DPS comes as the REIT saw higher gross revenue, net property income (NPI) and distributable income on a y-o-y basis for both the full-year and six-month period.
