Frasers Hospitality Trust (FHT) has recorded revenue per average room (RevPAR) of $127 for its Singapore portfolio for the 1QFY2021 ended December, 50% lower than RevPAR of $254 a year ago.
The lower RevPAR for the 1QFY2020 y-o-y was mainly due to lower occupancy. The Singapore Tourism Board (STB) recorded some 2.7 million international visitor arrivals in 2020, down 85.7% y-o-y.
Q-o-q, RevPAR saw a 13.6% increase from RevPAR of $112 in 4QFY2020 on the back of improved average daily rate (ADR) as Intercontinental Singapore stopped serving as a dedicated stay-home notice (SHN) facility.
ADR for 1QFY2021 stood at $217 compared to the $97 in 4QFY2020 and $293 in 1QFY2020.
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FHT says the government’s job support scheme (JSS), which has been extended till Mar 31, has helped the properties conserve jobs and cashflow.
Elsewhere, RevPAR for Australia for the 1QFY2021 stood at A$52 ($53.16), down 77.0% y-o-y due to lower portfolio occupancy and ADR.
The UK portfolio RevPAR plunged 81.6% y-o-y to £20 ($36.39) and 19.3% lower q-o-q due to the resurgence of Covid-19 cases in the country.
RevPAR in Japan fell 51.7% y-o-y to 5,723 yen ($73.09) on a 87.1% y-o-y drop in foreign visitors to 4.1 million.
SEE: Colin Low resigns as CEO of Frasers Hospitality Trust's manager
The Malaysian portfolio RevPAR for 1QFY2021 stood at 12 ringgit ($3.93) from RevPAR of 379 ringgit a year ago. The Westin KL have stopped operations temporarily since May 2020 to conserve cash and has resumed operations on Dec 18, 2020.
Maritim Hotel Dresden, Germany’s performance in 1 FY2021 continued to be affected by the temporary closure of the adjoining International Congress Centre which has been extended with no fixed re-opening date.
Looking ahead, FHT says it is “confident” in the long-term fundamentals of the markets where it has properties in. It will continue to prepare for the eventual recovery in tourism, it adds.
FHT as at Dec 31, 2020, has 15 properties in nine cities and an appraised portfolio value of $2.25 billion.
Units in FHT closed 1 cent lower or 2.0% down at 50 cents on Jan 28.
