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.

Meanwhile, its net property income rose 24.4% to $23.66m from $19.02m.

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Far East Hospitality Trust

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