Far East H-Trust posts 9.9% drop in Q4 DPS

Singapore

WEIGHED down by the softer performance of hotels and serviced residences, Far East Hospitality Trust (Far East H-Trust) reported a 9.9 per cent year-on-year slip in distribution per stapled security (DPS) to 1.28 Singapore cents for the fourth quarter ended Dec 31, 2014.

The Reit manager said it is expecting a challenging operating environment ahead as an estimated 3,000 new hotel rooms from all players come on-stream this year.

Net property income for the fourth quarter slipped 9.2 per cent from a year ago to S$27.65 millio…