News

Hotels & Tourism

Gerv Tacadena

, Singapore

Published:

8 years ago

OUEHT's Mandarin Orchard's RevPAR up 5% to $210

This led to the 6% growth in the net property income.

Despite the pricing pressure in the Singapore market, OUE Hospitality Trust's Mandarin Orchard Singapore managed to record a 6.8% growth in net property income.

According to DBS Group Research, this is on the back of 5% increase in revenue per available room (RevPAR) to $210.

"The higher RevPAR was driven by both increases in occupancy and average daily room rate which was impressive considering CDL Hospitality Trust reported a 1.4% decline in 2Q17 RevPAR for its Singapore portfolio," analyst Mervin Song explained.

The improvement in NPI was also attributed to higher food and beverage revenue on the back of higher patronage of its restaurants and dining venues.

Furthermore, banquets sales received a boost from more wedding events and business meetings
following the opening of new meeting facilities.

Photo from Calvin Teo.

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