Far East Hospitality Trust's DPS down 13.9% in Q1

Singapore

WEIGHED down by softness in demand for its hotels and serviced apartments, Far East Hospitality Trust's (Far East H-Trust) distribution per stapled security (DPS) for the first quarter ended March 31 fell 13.9 per cent to 0.93 Singapore cents.

Net property income slipped 10.4 per cent to S$22.12 million while gross revenue was down 9.5 per cent to S$24.78 million during the period as the master lease rental fell.