Weak Q2 hotel revenue seen taking toll on Singapore-focused hospitality Reits

Singapore

DBS Group Research on Thursday said that it expects Singapore-focused hospitality Reits such as CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT) to report weak second-quarter results, given feeble hotel revenue across the board from April to June.

According to the latest available official statistics, May's revenue per available room (RevPAR) fell 4.9 per cent year-on-year to S$200.90, hit by new supply in the market, with average daily rates falling 4.6 per cent and occupancy levels slipping 30 basis points to 82.8 per cent.