Far East H-Trust performs better than expected

By Cheryl Lim

Far East Hospitality has performed better than expected for its first reporting period ended Dec 31.

It announced a distributable income of $33.6 million, 4.5 per cent higher than what was initially forecast. This was due to a better than expected performance from its hotel assets, with revenue from commercial spaces, and meeting and banquet business offsetting the lower than predicted average revenue per room rate of $171.

Gross revenue was $42.2 million, down 0.7 per cent. Distribution per stapled security was 2.09 cents, higher than the anticipated 2 cents.

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