Singapore’s portfolio RevPAR fell by 16.6% y-o-y and 25.7% q-o-q. The portfolio also saw a y-o-y decline across its operating metrics due to rising competitive pressure and the easing of the pent-up travel demand.
Frasers Hospitality Trust (FHT) has seen higher revenues per available room (RevPARs) across all of its country portfolios in the 1QFY2024 ended Dec 31, 2023, except for Singapore and the UK.
In its business update for the 1QFY2024, the REIT noted the continued resilience of tourist demand with sustained recovery continued for its markets.
