FEHT's commercial premises segment, on the other hand, saw revenue increase by 4.9% y-o-y due to improved occupancy.
Far East Hospitality Trust (FEHT) has reported a lower gross revenue of $25.2 million for the 1QFY2025 ended March 31, 6.8% lower y-o-y. This was mainly due to lower master lease revenue from the hotels and serviced residences segment with the absence of major events such as the concerts held by Taylor Swift, Coldplay and Bruno Mars in 1Q2024. The biennial Singapore Airshow did not take place this year either.
Hotels revenue fell by 9.2% y-o-y to $18.2 million while serviced residences revenue fell by 8.8% y-o-y to $2.4 million.
