Singapore’s opening up along with that of many countries has led to a rise in international visitor arrivals, as well as hotel room and occupancy rates. Hotels here are also buoyed by the return of large scale events and relaxation of dining-in restrictions.

Perhaps because of optimism in the prospects for hospitality assets, some stapled security holders voted down the proposed privatisation of Frasers Hospitality Trust : ACV 0% (FHT), which owns hotels and serviced residences in Singapore, the United Kingdom (UK), Australia, Malaysia, Germany and Japan, in September. The privatisation offer price of S$0.70 per stapled security was at above FHT’s book value.

Opponents of FHT’s privatisation may have scored a pyrrhic victory – as at Oct 14, 2022, FHT traded at 35 per cent below the privatisation offer price.