serviced residences (SRs)

Ascott to expand footprint in Singapore with 4 property openings by end 2019

SINGAPORE (Sept 2): Ascott Limited, CapitaLand’s wholly-owned lodging business unit, is about to be the largest serviced residence operator in Singapore with a record number of openings this year as well as the signing of its first Citadines Connect business hotel.

Including Citadines Connect City Centre Singapore, which was secured under a franchise agreement, the group’s portfolio would increase to more than 3,100 units across 17 properties in Singapore.

Waiting for catalysts to drive Far East Hospitality Trust

SINGAPORE (Aug 7): CIMB Research is maintaining its “hold” rating on Far East Hospitality Trust with an unchanged price target of 66 cents on an “as-it-is” basis, after the REIT’s 2Q17 results came in broadly in line with the research house’s expectations.

See: Far East Hospitality Trust 2Q DPS fall 4% to 0.97 cent on lower revenue

Hospitality REITs to face increased competition from private residences offering short-term rental

Village Residence Hougang SR by Far East Hospitality Trust

SINGAPORE (July 4): OCBC continues to remain “neutral” on Singapore’s hospitality sector given the recent compression in yields, while highlighting OUE Hospitality Trust (OUEHT) as its top and only “buy” pick with a fair value estimate of 75 cents.

This comes after the Urban Redevelopment Authority (URA) last Friday passed a new legislation that reduces the minimum stay duration for private residential properties to three months from six months previously, with immediate effect.

Switch to Far East Hospitality Trust for a tactical trade, says CIMB

SINGAPORE (June 15): CIMB Research is maintaining its “hold” call on Far East Hospitality Trust (FEHT) on an “as is” basis with a higher price target of 63 cents from 57 cents previously due to a sector-wide fall in Singapore’s discount rate.

In a Wednesday report, analysts Yeo Zhi Bin and Lock Mun Yee recommend FEHT as a tactical trade with relatively better returns as compared to that of CDL Hospitality Trusts (CD REIT) – as projected total returns for CD REIT have been revised to 0%, whereas FEHT has an estimated 9%.

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