Far East Hospitality Trust Q3 net property income up 6.3% at S$27.6 million
It posts 7.2% higher gross revenue at S$32.6 million, from S$30.4 million in the year-ago period
Far East Hospitality Trust (FEHT) reported a 6.3% increase in Q3 net property income (NPI) to S$27.6 million, up from S$25.9 million in the same period last year. The rise was primarily due to a 7.2% increase in gross revenue, reaching S$32.6 million, up from S$30.4 million previously. This growth was mainly driven by improved performance at Four Points by Sheraton Nagoya, a contracted hotel for the Asian Games 2026.
FEHT's hotel portfolio gross revenue grew 9.2% to S$25 million, while Japan's hotel revenue increased 71.7% to S$4.6 million, with a 48.7% rise in revenue per available room to 12,502 yen. Singapore's hotel portfolio saw a 0.9% revenue growth, with no change in revenue per available room at S$148. Serviced residence portfolio revenue rose 5% to S$3 million, while commercial premises and other income declined 1.2% to S$4.5 million.
Finance expenses dropped 16% year on year, mainly due to lower average cost of debt, which reduced to 2.3% from 3.2% previously. The Reit manager expects FEHT's portfolio to benefit from increased business travel, conferences, and events, including the Formula 1 Singapore Grand Prix and BTS world tour.
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