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Far East Hospitality Trust reports 36.4% lower NPI in 3Q business update

Felicia Tan
Felicia Tan10/30/2020 08:38 AM GMT+08  • 2 min read
Far East Hospitality Trust reports 36.4% lower NPI in 3Q business update
Units in FEHT closed flat at 56.5 cents on Oct 29.
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Far East Hospitality Trust (FEHT) has reported gross revenue of $20.6 million for 3QFY2020, down 33.2% from the $30.9 million a year ago. This was due mainly to a decline in master lease rental for the hotels and serviced residences arising from the impact of Covid-19.

See also: Far East Hospitality Trust declares 43.4% decline in 1H20 DPS to 1.03 cents

Revenue from the commercial premises fell 37.9% y-o-y to $3.4 million due to rental rebates given during the quarter.

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