Singapore

FRASERS Property's hospitality portfolio remains challenged by pandemic headwinds, the company said in a first-quarter business update late on Wednesday (Feb 9), even as it reported higher revenue per average room (RevPAR) across its Asia-Pacific (ex-North Asia) and Europe portfolios.

"(The) emergence of the Omicron variant from December 2021 and subsequent surge in infections pose a setback to recovery trajectory," Frasers Property said.