SINGAPORE (July 30): The manager of Far East Hospitality Trust (Far East H-Trust) reported a distribution per stapled security of 0.91 cent for 2Q19 ended June, 9.9% lower than a year ago on lower distributable income and with an enlarged base.
Gross revenue fell 2.1% to $27.9 million while net property income fell 2.4% to $25.1 million for 2Q19. Income available for distribution fell 7.4% to $17.6 million.
The manager of Far East H-Trust says average occupancy of the hotels stood at 88.1% in 2Q19, a decrease of 1.7ppt y-o-y. The average daily rate (ADR) was 2.6% lower year-on-year at $156. As a result, revenue per available room (RevPAR) declined by 4.5% to $137.
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