FEHT expects S'pore hospitality industry to stay competitive

Singapore

FAR East Hospitality Trust (FEHT), which posted lower second- quarter results, said Singapore's hospitality industry is expected to remain competitive amid an increase in hotel rooms supply and soft corporate demand.

"Despite the growth in visitor arrivals recorded in the first five months of the year, the average spending on rooms has not correspondingly increased," it said on Friday.

The addition of more than 3,300 new hotel rooms in the Singapore market in 2016 is expected to heighten competition, FEHT said. "While there is demand from le…