0313 GMT - Far East Hospitality Trust is set to be a key beneficiary of the expected pickup in tourism in Singapore in 2024, DBS Group Research analysts say in a report. The Singapore Tourism Board is projecting a solid on-year increase in visitor arrivals this year. That should boost occupancy at the REIT's hotel segment, the analysts say. Far East's Singapore hospitality portfolio features attractively priced hotel rooms, representing a "sweet spot" for budget-conscious and corporate travellers, they add. Timely completion of asset-enhancement initiatives and rebranding of older assets in past years leaves the REIT well-placed to capture market share in the neighborhood of Orchard, says DBS. It raises the REIT's target to S$0.80 from S$0.75 and keeps a buy rating. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 15, 2024 22:14 ET (03:14 GMT)
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