SINGAPORE (Nov 4): HSBC Global Research has maintained its “buy” call with an unchanged target price of 80 cents for Far East Hospitality Trust (FEHT) despite a soft operating environment.

It notes the hotel sector remains weak, though the pace of deterioration has moderated, as the Singapore Tourism Board reported a 2.1% year-on-year decline in RevPAR for July and August 2015 across all hotel segments.

Moreover, the serviced apartment segment continues to see weakness as RevPAU fell 9.2% year-on-year with an ADR decline of 7.2% year-on-year.

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