Far East Hospitality Trust (FEHT) posted lower revenue and earnings for the fourth quarter of 2014, hurt by lower occupancy and room rates at its hotels and serviced residences in Singapore. FEHT, whose properties include the Rendezvous and Orchard Parade hotels, said on Wednesday (Feb 11) that it recorded gross revenue of S$30.3 million for the quarter - a drop of 9.8 per cent compared to the same...
Far East Hospitality Trust
Far East Hospitality Trust, a Singapore-focused hotel and serviced residence property trust, will pay 13.3 per cent less in distribution per stapled security as occupancy at its hotels fell amid a plunge in visitor arrivals from China. Far East Hospitality, whose properties include Rendezvous Hotel and Village Hotel Albert Court, will pay 1.24 Singapore cents per stapled security for the quarter ended...
Far East Hospitality Trust has announced a higher distribution per unit (DPU) from its earlier forecast. At its maiden results briefing, the trust says DPU per stapled security will be 2.09 cents. This compared to its forecast of only 2 cents during its initial public offering (IPO) in August. The higher distribution comes on the back of a rise in income available for distribution of S$33.6...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
Hotel and serviced residence owner Far East Hospitality Trust aims to tap South-east Asia's booming tourism demand and grow its portfolio value by 50 per cent over the next two years. Far East Hospitality expects to acquire a hotel and two serviced residences - Orchard Parksuites and Orchard Scotts Residences - from its sponsor Far East Organisation within the next 24 months, increasing its portfolio by...
Far East Organization has priced its hospitality trust listing at 93 Singapore cents per stapled security, the top end of its indicative price range. The public offer opens at 9am on Friday, and the trust manager said it believes the timing of the listing is right. Targeting to raise about S$1.49 billion, Far East Hospitality Trust is the largest initial public offering (IPO) in Singapore this year. The...
Shareholders of Orchard Parade Holdings Limited (OPHL) have approved the firm's plans to divest three properties. This was agreed upon at an extraordinary general meeting held Wednesday, where 99.9 per cent of shareholders voted in approval. The three properties are: Orchard Parade Hotel, Albert Court Village Hotel and Central Square Village Residences. OPHL said in a statement that it would now proceed...