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Maybank keeps 'hold' on FHT despite weaker visibility on RevPAR recovery

Chloe Lim
Chloe Lim5/9/2022 03:24 PM GMT+08  • 3 min read
Maybank keeps 'hold' on FHT despite weaker visibility on RevPAR recovery
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Maybank Securities analyst Chua Su Tye has kept a “hold” rating on Frasers Hospitality Trust (FHT) with an increased target price of 55 cents from 50 cents.

FHT’s Singapore portfolio saw gross operating revenue (GOR) rise approximately 9% y-o-y in 1HFY2022 ended March, while gross operating profit (GOP) jumped approximately 23% y-o-y.

This was driven by better revenue per available room (RevPAR), which rose approximately 15% y-o-y to $137, as the Intercontinental reopened after serving the government’s isolation contracts from October 2021 to December 2021.

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