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Low occupancy at European hotels could hit First Sponsor's revenue: Phillip Securities

Jeffrey Tan
Jeffrey Tan10/28/2020 01:46 PM GMT+08  • 2 min read
Low occupancy at European hotels could hit First Sponsor's revenue: Phillip Securities
A 3% fair value mark-down in the hotel investment properties could shave off $1.8 million from First Sponsor's revenue.
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While Phillip Securities continues to favour First Sponsor Group, the brokerage believes the property company’s low occupancy rate at its European hotel could impact its top line.

Phillip Securities says it expects “some” mark-downs in the fair value of the hotels at this year-end.

This could see shave off $1.8 million from its revenue given a 3% decline in the fair value of the hotel investment properties.

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