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Far East Hospitality Trust reports 8.4% y-o-y dip in NPI in 1Q21 business update

Atiqah Mokhtar
Atiqah Mokhtar4/30/2021 07:14 AM GMT+08  • 3 min read
Far East Hospitality Trust reports 8.4% y-o-y dip in NPI in 1Q21 business update
The lower NPI follows lower occupancies for the trust’s serviced residences.
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Far East Hospitality Trust (FEHT) has posted 1QFY2021 ended March distributable income of $12.5 million, down 1% y-o-y from $12.7 million previously.

Net property income (NPI) for the period was $18.2 million, down 8.4% y-o-y from $19.9 million the year before.

The lower NPI and distributable income follow lower revenue reported for the 1QFY2021, which fell 6.9% y-o-y to $21.3 million on the back of lower occupancies in the trust’s serviced residences, as well as rental assistance given to tenants at the commercial premises.

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