Frasers Property reports lower RevPAR in Q1 for hospitality portfolio

Singapore

REAL estate developer and manager Frasers Property reported lower revenue per average room (RevPAR) for the first quarter across its hospitality properties globally.

Its hotel operating performance across Asia-Pacific, Europe and UK in November 2020 were "significantly below pre-Covid levels", it said.

In a business update on Friday, it noted that in North Asia, RevPAR declined 24.9 per cent from a year earlier to S$67.4. In Asia-Pacific excluding North Asia, RevPAR fell 43.9 per cent to S$99.

RevPAR dropped 68.7 per cent to S$54.30 year on year in Europe.

Frasers Property also registered a lower average occupancy rate (AOR) across the board. AOR in Europe f…