Published:
Far East Hospitality Trust's net property income down 5.8% to $103m in 2015
Due to weak demand, intense competition.
Far East Hospitality Trust's net property income dropped to $103m in 2015, while income available for distribution declined by 10.1% to $82.2m.
The drop was attributed to soft corporate travel demand, as as companies scaled back on their travel budgets in view of the uncertain economic outlook.
FEHT also faced competition from new and existing hotels, the group said.
The group noted that operating environment will remain competitive in the coming year.
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