FHT sees improvement in portfolio performance led by UK recovery

Vivienne Tay

Published Fri, Jul 29, 2022 · 09:10 AM

F : ACV 0%rasers : ACV 0% Hospitality Trust : ACV 0%(FHT) on Friday (Jul 29) said it observed a sustained improvement in the markets it operates in for the 9 months ended Jun 30.

This came amid international travel recovery, with Europe leading international arrivals while the Asia-Pacific region lagged, noted FHT’s managers in a business update. European international arrivals were driven by intra-regional demand and reached 57 per cent of pre-pandemic levels.

Notably, FHT’s UK portfolio saw revenue per available room (RevPAR) more than quadruple to £85 (S$143) from £19 as average daily rates (ADR) and occupancy improved. The managers said all UK properties experienced “good demand” as the country approached its peak summer months.

Maritim Hotel Dresden in Germany also showed improvement in the third quarter, supported by a recovery in domestic travel after travel restrictions eased. That being said, the pace of recovery continues to be “very gradual” in the absence of Mice (meetings, incentives, conferencing, exhibitions) events and international arrivals.

In Singapore, RevPAR for the 9 months climbed 32.4 per cent to S$159 from S$120. Occupancy for the 9 months rose to 68.5 per cent from 59.8 per cent, while ADR was up 15.4 per cent to S$232 from S$201 in the same period a year ago.

FHT’s managers noted Fraser Suites Singapore’s performance remained stable with support from the long-stay business. Singapore also reopened its borders to all vaccinated travellers from Apr 1, while airlines such as Singapore Airlines and Scoot expanded their flight networks for eligible flyers on the same date.