Hospitality sector RevPAR quite chui for FY2016
~ OCBC Market Pulse (8 February 2017) ~
"Full-year RevPAR/REVPAU decline
Three out of four of the hospitality REITs under
our coverage – Ascott Residence Trust (ART),
CDL Hospitality Trusts (CDLHT) and OUE
Hospitality Trust (OUEHT) – have announced
their FY16 results, while Far East Hospitality
Trust (FEHT) will be announcing theirs before
trading hours on 22 Feb. In terms of full-year
RevPAR growth for Singapore-based hotels,
CDLHT and OUEHT posted
8.6% and 5.7%
declines respectively. Full-year
RevPAU growth for ART came to
3.0% decline.
Similarly, 4Q RevPAU/RevPAR YoY growth came
to -0.6% for ART, -10.5% for CDLHT, and -6.8%
for OUEHT’s Mandarin Orchard"