As at 2020 Second Quarter Financial Results (23 July 2020)
Far East Hospitality Trust (FEHT) is the first and and only Singapore-focused hotel and serviced residence hospitality trust, listed on 27 Aug 2012. It has ownership/interest in 13 properties in Singapore, comprising 9 hotels and 4 serviced residences, worth S$2.65 billion as at 30 Jun 2020.
| Gross rental income (by sector) | Percentage |
| Hotels | 64.4% |
| Serviced Residences | 14.0% |
| Commercial | 21.6% |
| Gross rental income (by geographical location) | Percentage |
| Singapore | 100% |
| Metrics | 2Q 2020 | 1Q 2020 |
| Gearing Ratio (Aggregate Leverage) | 39.2% | 39.5% |
| Weighted Average Debt to Maturity (Average Term to Maturity) | 2.8 years | 3.0 years |
| Average Cost of Debt (p.a.) | 2.5% | 2.8% |
| Occupancy Rate | 77.6% (H) 82.7% (SR) | 65.3% (H) 83.6% (SR) |
| Average Daily Rate | $102 (H) $200 (SR) | $144 (H) $213 (SR) |
| Revenue Per Available Room | $79 (H) $166 (SR) | $94 (H) $178 (SR) |
| 2Q 2020 | 2Q 2019 | 1H 2020 | 1H 2019 | |
| Metrics | S$ mil | S$ mil | S$ mil | S$ mil |
| Gross Revenue | 21.4 | 27.9 | 44.3 | 55.7 |
| Property operating expenses | (2.7) | (1.5) | (5.7) | (5.5) |
| Net Property Income | 18.7 | 29.4 | 38.6 | 50.2 |
| Distributable Income | 7.5 | 17.6 | 20.2 | 35.0 |
| DPU | (semi- annual) | (semi- annual) | 1.03c | 1.82c |
PORTFOLIO
SINGAPORE
Hotels:
| Property | NPI (%) | Valuation ($m) Jun-20 | Valuation ($m) Dec-19 | Leasehold expiry |
| Village Hotel Albert Court | 4.9 | 127.8 | 127.8 | 27 Aug 2087 |
| Village Hotel Changi | 8.2 | 205.8 | 205.8 | 27 Aug 2077 |
| The Elizabeth Hotel | 5.2 | 163.7 | 163.7 | 27 Aug 2087 |
| Village Hotel Bugis | 10.0 | 232.7 | 232.7 | 27 Aug 2078 |
| Oasia Hotel Novena | 11.0 | 330.0 | 330.0 | 27 Aug 2104 |
| Orchard Rendezvous Hotel | 18.3 | 431.2 | 431.2 | 27 Aug 2062 |
| The Quincy Hotel | 2.6 | 82.0 | 82.0 | 27 Aug 2087 |
| Rendezvous Hotel Singapore | 10.5 | 284.1 | 284.1 | 1 Aug 2083 |
| Oasia Hotel Downtown | 10.2 | 245.0 | 245.0 | 2 Apr 2083 |
Serviced Residences
| Property | NPI (%) | Valuation ($m) Jun-20 | Valuation ($m) Dec-19 | Leasehold expiry |
| Village Residence Clarke Quay | 7.6 | 205.9 | 205.9 | 27 Aug 2092 |
| Village Residence Hougang | 2.1 | 62.0 | 62.0 | 27 Aug 2093 |
| Village Residence Robertson Quay | 4.0 | 105.3 | 105.3 | 27 Aug 2090 |
| Regency House | 5.4 | 170.2 | 170.2 | 27 Aug 2093 |
Potential pipeline projects from Sponsor
- Acquisition pipeline of 7 properties (1,200 hotel rooms and 618 serviced residence units) under Right of first refusal with Sponsor.
- 30% stake in a joint venture in development of three hotels in Sentosa with Sponsor which opened in 2019.
Theory of Constraints 