Far East Hospitality Trust

[cyclone]

Financial Results for the Quarter ended 30 September 2017 ("3Q2017")

Highlights :
* Gross revenue decreased 2.0% to $27.5 million in 3Q2017
* Net property income decreased 2.3% to $24.8 million
* Income available for distribution was $19.2 million for 3Q2017
* Distribution per Stapled Security was 1.03 cents for 3Q2017
* Demand for hotel accommodation was stronger, reversing the declining RevPAR trend of the first two quarters
* In the first nine months of 2017 ("YTD Sep 2017"), Gross Revenue was $78.1 million
* YTD Sep 2017 Net property income and Income available for distribution were $70.0 million and $54.0 million respectively
* YTD Sep 2017 the distribution was 2.93 cents.

More details in :
1. http://infopub.sgx.com/FileOpen/Financia...eID=476490
2. http://infopub.sgx.com/FileOpen/Presenta...eID=476492
3. http://infopub.sgx.com/FileOpen/Press%20...eID=476491

[weijian]

DPS for FEHT have surpassed pre covid levels (FY19), although it is still lower in the mid 2010s when it first listed in 2012.

RevPAR is driving the DPU recovery to surpass FY19 levels but actual tourism levels (visitors/flights) are still 10-20% below FY19 levels. So there seems to be further room for DPU improvements?

2H / FY 2023 Results Presentation

Distribution to Stapled Securityholders for 2H 2023 increased 26.3% to S$43.5 million on the back of higher net property income contribution.

▪ The higher distribution translates to a growth of 25.4% in DPS to 2.17 cents for 2H 2023, up from 1.73 cents for the preceding period.

2H23 ppt:
https://links.sgx.com/FileOpen/2H%202023...eID=786619

[r0n]

This is the 2nd refusal that has happened this year. Paragon REIT refusing Seletar Mall purchase from its Sponsor Cuscaden Peak was the first. Even as hospitality assets are having good near term prospects, is it because of the current financing conditions (whether equity raising or loan) are not conducive? If so, this is really a sign of things to come!

On the other hand, this is also a sign of good corporate governance and independence well demonstrated by the 2 REIT managers.

Right of First Refusal in connection with Interest in Capri by Fraser, Changi City

The Property is under JTC lease with 45 years remaining and consists of a 12-storey hotel operating under the “Capri by Fraser” brand.

The Managers have considered the opportunity and is of the view that acquiring the Property does not meet FH-REIT’s prevailing investment strategy. As such, the Managers have decided not to exercise the ROFR.

https://links.sgx.com/FileOpen/FHT_Annou...eID=792454

Wrong topic sir? This is Far East HT not Frasers HT?

[weijian]

This is the 2nd refusal that has happened this year. Paragon REIT refusing Seletar Mall purchase from its Sponsor Cuscaden Peak was the first. Even as hospitality assets are having good near term prospects, is it because of the current financing conditions (whether equity raising or loan) are not conducive? If so, this is really a sign of things to come!

On the other hand, this is also a sign of good corporate governance and independence well demonstrated by the 2 REIT managers.

Right of First Refusal in connection with Interest in Capri by Fraser, Changi City

The Property is under JTC lease with 45 years remaining and consists of a 12-storey hotel operating under the “Capri by Fraser” brand.

The Managers have considered the opportunity and is of the view that acquiring the Property does not meet FH-REIT’s prevailing investment strategy. As such, the Managers have decided not to exercise the ROFR.

https://links.sgx.com/FileOpen/FHT_Annou...eID=792454

Wrong topic sir? This is Far East HT not Frasers HT?

hi ron,
Thanks for moderating the moderator. Post has been moved accordingly.