Frasers Hospitality Trust (ACV)

As at 2020 Third Quarter Financial Results (6 Aug 2020)

Frasers Hospitality Trust (FHT) is the first global hotel and serviced residence trust to be listed on the Singapore Exchange, on 14 Jul 2014. It has ownership/interest in 15 properties in Singapore, comprising 9 hotels and 6 serviced residences, worth S$2.35 billion as at 31 Mar 2020.

Gross rental income
(by geographical location)
Percentage
Singapore17%
Australia50%
UK15%
Japan6%
Germany10%
Malaysia2%

Metrics3Q 20202Q 2020
Gearing Ratio
(Aggregate Leverage)
35.9%36.0%
Weighted Average Debt to Maturity
(Average Term to Maturity)
3.88 years4.14 years
Average Cost of Debt (p.a.)2.3%2.4%
Occupancy Rate32.6% (Aus)
80.2% (Sin)
0.0% (UK)
9.3% (Jpn)
1.1% (Mys)
72.4% (Aus)
58.2% (Sin)
66.6% (UK)
47.8% (Jpn)
52.5% (Mys)
Average Daily RateAUD 141 (Aus)
SGD 132 (Sin)
GBP 0 (UK)
JPY 14,216 (Jpn)
MYR 348 (Mys)
AUD 229 (Aus)
SGD 280(Sin)
GBP 104 (UK)
JPY 12,583 (Jpn)
MYR 431 (Mys)
Revenue Per Available RoomAUD 46 (Aus)
SGD 108 (Sin)
GBP 0 (UK)
JPY 1,322 (Jpn)
MYR 0 (Mys)
AUD 166 (Aus)
SGD 163 (Sin)
GBP 70 (UK)
JPY 6,015 (Jpn)
MYR 226 (Mys)
  • UK: By order of the government, the UK portfolio suspended operations during the Q3 2020.
  • Japan: On 7 Apr 2020, the Japanese government imposed state of emergency in 7 prefectures including Tokyo, Osaka, Hyogo and Fukuoka. This was extended to nationwide in mid-Apr 2020 and was fully lifted on 25 May 2020.
  • Malaysia: To conserve cash, The Westin Kuala Lumpur has temporarily suspended operations since May 2020.

2Q 20202Q 20191H 20201H 2019
MetricsS$ milS$ milS$ milS$ mil
Gross Revenue20.234.662.675.2
Property operating
expenses
(8.1)(9.4)(17.3)(18.9)
Net Property Income12.125.245.356.3
Distributable Income6.118.76.342.4
DPU0.3137c0.9846c0.3287c2.2388c

Conservatively retained S$25.3 m or 80.0% of Distributable Income to conserve cash for COVID-19.

PORTFOLIO

Hotels:

PropertyValuation
($m) Jun-20
Valuation
($m) Dec-19
Leasehold
expiry
Novotel Melbourne
on Collins
(Australia)
223.4223.4Freehold
Novotel Sydney
Darling Square
(Australia)
106.1106.114 Jul 2098
Sofitel Sydney
Wentworth
(Australia)
260.6260.65 Jul 2090
InterContinental
Singapore
(Singapore)
532.0532.014 Jul 2089
ibis Styles London
Gloucester Road
(UK)
35.235.214 Jul 2089
Park International
London
(UK)
73.573.514 Jul 2089
ANA Crowne
Plaza Kobe
(Japan)
215.0215.0Freehold
The Westin Kuala
Lumpur
(Malaysia)
138.2138.2Freehold
Maritim Hotel
Dresden
(Germany)
104.6104.6Freehold

Serviced Residences

PropertyValuation
($m) Jun-20
Valuation
($m) Dec-19
Leasehold
expiry
Fraser Suites
Sydney
(Australia)
119.1119.114 Jul 2089
Fraser Suites
Singapore
(Singpore)
305.0305.014 Jul 2089
Fraser Suites
Edinburgh
(UK)
26.226.214 Jul 2089
Fraser Suites
Glasgow
(UK)
18.518.514 Jul 2089
Fraser Suites
Queens Gate
(UK)
101.7101.714 Jul 2089
Fraser Place
Canary Wharf
(UK)
71.371.314 Jul 2089

Potential pipeline projects from Sponsor

  • Acquisition pipeline of 17 properties under Right of first refusal with Sponsor.

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