FHT’s Singapore portfolio RevPAR grew 76.8% YoY in 9M FY23
The hospitality trust said it exceeded the pre-2020 level by 15.2%.
Frasers Hospitality Trust (FHT) improved its RevPAR due to a strong increase in average daily rate (ADR).
In a bourse filing, FHT said its ADR and occupancy increased 60.7% and 6.9 percentage points year-on-year (YoY) in nine months of FY 2023.
It was uplifted due to the continued robust recovery of Singapore’s tourism industry and the return of events. FHA, IMDEX Asia, and CommunicAsia were to name a few that helped FHT’s earnings growth.
Here are some concerns that FHT said they would be cautiously optimistic about:
The International Monetary Fund predicted 2023 global economic growth to fall to 3% amidst persistent inflation and banking sector vulnerabilities.
The ongoing conflict between Russia and Ukraine could harm global confidence and cause further negative consequences.
The slowdown in headline inflation is anticipated and higher oil and gas prices expected with rising demand from China.
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