Far East Hospitality Trust's net property income soars to $28.1m in 3Q23

The 3Q23 NPI is 42.4% higher than the 3Q22 record of $19.7m.

Far East Hospitality Trust (FEHT) ended 3Q23 with a 42.4% YoY higher net property income (NPI) of $28.1m.

In a bourse filing, the REIT attributed the growth in its NPI to higher gross revenue during the quarter.

In 3Q23, FEHT recorded a 42.5% YoY higher revenue of $30.2m, given the strong contribution from its hotel segment, which recorded a 56.3% increase in revenue.

Apart from higher NPI, the improved revenue also resulted in a 51.0% YoY growth in the REIT's income available for distribution.

In 3Q23 3Q23, FEHT posted an income available for distribution of $22.9m.

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Far East Hospitality Trust

Net property income

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