Far East Hospitality Trust revenue soars 20.1% to $25.19m YoY
Its hotel segment contributed the largest with its $18.47m revenue.
Far East Hospitality Trust recorded a 20.1% growth in its gross revenue to $25.19m in the first quarter of 2023 from $20.97m in the same quarter of the previous year.
Its hotel segment had a sizeable contribution to the growth, with a 29.6% increase in revenue to $18.47m from $14.25m, whilst its Commercial Premises generated $3.99m in revenue, a 5.9% rise from $19.02m.
However, the revenue from its Serviced Residences sector fell 7.8% to $2.72m year-over-year from $2.95m.
READ MORE: Far East Hospitality Trust net property income up 2.6% to $18.31m
Meanwhile, its net property income rose 24.4% to $23.66m from $19.02m.