Frasers Hospitality Trust profits down 4% to $27.75m in Q2

The company’s property operating expenses edged up 0.4%.

Frasers Hospitality Trust net property income dipped slightly by 4% YoY to $27.75m in Q2, according to the company’s financial statement.

Total property operating expenses inched upwards by 0.4% to $9.74m.

The Singapore portfolio continued to witness a 0.6% YOY decline in GOR. Persistent weakness in the rental market hit the revenue per room and gross operating revenue of Fraser Suites Singapore. However, a stronger performance from InterContinental Singapore buoyed the overall gross operating profit (GOP) portfolio to rise 2.2% in the first half of the year compared to 1H FY2017.

Also read: Frasers Hospitality expands Japan portfolio by $250m

The company expects government initiatives including the Hotel Industry Transformation Map to lend support to the hospitality and accommodation industry in the near term. It also expressed optimism as visitor arrivals rose 6.2% YoY in 2017 led by the Chinese and Indonesian markets.

“For January 2018, visitor arrivals rose 5.4% yoy. In the near term, hotel demand is expected to continue rising on the back of strong visitor arrivals growth. Limited hotel supply in 2018 should provide some respite for the market and reduce pressure on ADR and occupancy rates,” the company added.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia