Far East H-Trust’s net property down 7.7% to $45.7m in H1 2025

DPS is 1.78 cents for the period.

Far East Hospitality Trust (Far East H-Trust) saw its net property income fall 7.7% year-on-year (YoY) to $45.74m in H1 2025, according to its latest bourse filing.

Gross revenue is 4.2% lower at $51.57m in the first six months of the year, compared to the same period last year.

Distribution per share (DPS) is 1.78 cents, a 9.2% decline from the 1.96 cents distributed in H1 2024.

Far East H-Trust said that the lower revenue was due to softer performance from its Singapore hotels and serviced residences. It was partially mitigated by higher revenue from its commercial properties, and a maiden contribution from Four Points by Sheraton Nagoya of $1.6m.

“Our first overseas acquisition in Japan marks a strategic step in diversifying our income stream beyond Singapore,” said Gerald Lee, CEO of the REIT manager.

“After a slow start in the first half of the year amidst macroeconomic headwinds and cautious corporate sentiments, demand has started to trend more positively,” Lee added.

In H1, Far East H-Trust reported a 79.4% average occupancy in its Singapore hotels, and an average daily rate (ADR) of $168.

“The softer performance was partly due to the absence of large-scale concerts and major events in the first quarter that had boosted demand in the prior year,” the REIT said.

Rising geopolitical and macroeconomic headwinds have also impacted corporate bookings as well as leisure demand from major markets, it added.

Revenue per available room (RevPAR) is $133 in H1 2025, lower than the $141 in H1 2024.

Serviced residences had an average occupancy of 78.2%, lower than in H1 2024, when occupancy was 85.1%. ADR was $270, higher than the $266 a year earlier.

The serviced residences’ performances were weighed down by lift replacement work in the first quarter as well as softer corporate demand, but recovered in the second quarter by a shift in guest mix towards more leisure travellers.

The higher ADR in serviced apartments was credited from “higher-rated, shorter stay bookings.”

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