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.