Home Capital Results

Far East Hospitality posts 8% drop in 3Q DPS to 1.03 cents on lower revenue

Samantha Chiew
Samantha Chiew11/2/2017 08:10 AM GMT+08  • 2 min read
Far East Hospitality posts 8% drop in 3Q DPS  to 1.03 cents on lower revenue
SINGAPORE (Nov 2): Far East Hospitality Trust (FEHT) announced that 3Q17 DPS dropped 8% to 1.03 cents compared to 1.12 cents in 3Q16.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 2): Far East Hospitality Trust (FEHT) announced that 3Q17 DPS dropped 8% to 1.03 cents compared to 1.12 cents in 3Q16.

Gross revenue for the third quarter ended September declined 2% to $27.5 million from $28.0 million a year ago, due to lower master lease rental from the hotels and serviced residences as well as softer performance in retail and office spaces.

Demand for hotel accommodation was stronger in 3Q17 compared to 2Q17, as a result of better contribution from the corporate segment. The hotel portfolio closed the gap in the average daily rate (ADR) and increased overall occupancy by 1.0pp as compared to 3Q16.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.