Far East H-Trust’s NPI grows 1.0% YoY, driven by portfolio growth

With a higher NPI, the trust’s DPS increased by 2.7% YoY to $39.4m.

The net property income (NPI) of Far East Hospitality Trust (Far East H-Trust) rose by 1.0% YoY to $49.5m in H1 2024, driven by growth across all portfolio segments.

In the first half of the year, its hotel segment recorded an improved average daily rate (ADR) of $176, up 3.7% YoY, and revenue per available room (RevPAR) of $141 (6.4% YoY).

Its serviced residences segment also saw an increase in its ADR, rising 4.9% YoY to $266. Meanwhile, its REIT commercial premises segment saw a 7.3% YoY increase in its revenue, reaching $8.6m.

As a result of higher NPI, the trust reported a 2.7% YoY higher distribution to stapled security holders (DPS) of $39.4m.