Far East Hospitality Trust's (SGX:Q5T) net property income or NPI, was down nearly 7% year over year in Q3 to SG$26.2 million from SG$28.1 million, a filing with the Singapore Exchange said on Wednesday.
Gross revenue was down nearly 5% year over year to SG$28.7 million from SG$30.2 million, despite increased revenue from commercial premises and serviced residences which was countered by a decrease in revenue from the hotel segment.
Average occupancy for the hotel portfolio was down to 85.5% compared to 86.7% in the previous quarter.
Price (SGD): S$18712.75, Change: S$+150, Percent Change: +0.78%
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