Against the backdrop of an ailing economy, the tourism sector seems to be Singapore’s beacon of light.
SINGAPORE (Oct 9): Singapore-focused hospitality REITs CDL Hospitality Trusts (CDREIT) and Far East Hospitality Trusts (FEHT) are expected to see potential upside to their upcoming 3Q19 results, amid higher visitor arrivals and a resultant improvement in hotels’ earnings.
Recent data released by the Singapore Tourism Board (STB) shows a 3.07% y-o-y increase in arrivals to 1.73 million in August alone. The influx is attributed to the longer holidays in the month, as well as the unrest in Hong Kong, which is said to have diverted tourists here.
