0111 GMT - Far East Hospitality Trust could face headwinds from a slowdown in Singapore's tourism sector, Citi Research analyst Brandon Lee says in a note. The sector's growth could moderate further this year, he writes. Citing the Singapore Tourism Board, Lee notes that international visitors are expected to reach between 17 million and 18.5 million this year. That implies 3% to 12% growth compared to the 21% expansion seen in 2024, he says. Citi downgrades the hospitality-focused REIT's rating to sell from buy and reduces its target price to S$0.53 from S$0.73. Units are 1.7% lower at S$0.59. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 20:12 ET (01:12 GMT)
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