Brokers' take
OUE Hospitality Trust
Hold
OCBC Investment Research, Nov 20
Nov 20 close: S$0.795
Target price: S$0.80
Visitor arrivals from Indonesia to Singapore continue to be lacklustre. OUE Hospitality Trust (OUEHT) has been impacted partially by this, as we believe Indonesian tourists contribute about 25-30 per cent of its room nights occupied. Management said it did experience lower room nights from its Indonesian customers in Q315, but the decline was less than the overall industry dip.
We also note that management has been putting in efforts to diversify its customer profile, with encouraging numbers from India, South Korea and longer…
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