Far East Hospitality Trust's RevPAR slips 1.3% to $314

The increased supply dampen the room rates.

Despite the picking up of hotel demand in the past quarter, Far East Hospitality Trust's revenue per available room slipped slightly by 1.3% to $134.

According to OCBC Investment Research analyst Deborah Ong, the increased supply of hotel rooms and soft corporate business put a damper on room rates.

Meanwhile, the trust's serviced residences revenue per available unit also declined by 5.7% to $177, mainly due to the 4.5 ppt drop in occupancy to 81.5%.

However, the occupancy in the segment still improved in comparison from the previous quarter's rate at 71.2%.

To recall, Far East Hospitality Trust's distribution per unit dropped 4% to 0.97 S-cents in the quarter.