59
ANNUAL REPORT 2015
FRASERS HOSPITALITY TRUST
Q
Actual
FY2015
OPERATIONS REVIEW
Arrivals to Singapore were impacted
by the strong Singapore dollar. The
city received fewer visitors from its
top four feeder markets (Indonesia,
China, Malaysia and Australia) and
a noticeable drop was recorded for
visitors from China. Total arrivals
as at year-to-date (“YTD”) August
2015 saw a year-on-year decrease
of 0.6%.
The decline in arrivals coupled with
supply growth led to a market-wide
decline in occupancy in January to
June 2015 (“1H2015”) by 0.6% year-
on-year to 85.3%. The ADR declined
by 5.4% year-on-year to SGD242.50,
while market RevPAR declined by
6.1% year-on-year to SGD207.10.
Amid softening market conditions,
FHT’s Singapore portfolio
performed well relative to its peers.
InterContinental Singapore is on
track to complete the renovation
of its guest rooms by February
2016. The fully renovated all-day-
dining, Ash & Elm, opened its
doors on 15 September 2015. The
renovation of the Lobby Lounge will
be completed by end November
SINGAPORE
315.0
82.8
261.0
304.0
83.7
254.0
ADR (SGD)
AVE OCC (%)
REVPAR (SGD)
InterContinental Singapore
2015. The reduced inventory
during the renovation contributed
to a decrease in occupancy
and consequently RevPAR.
InterContinental Singapore’s ADR
against forecast was maintained
throughout the renovation,
compared to a decline for the
market.
Fraser Suites Singapore, on the
other hand, was affected by the
continued softness in the residential
market. The property’s full year ADR
declined 8.9% against forecast.
The Singapore portfolio’s overall
GR decreased by 6.2% to SGD39.9
million and NPI decreased by 6.1%
to SGD32.9 million, relative to
forecast.
Q
Forecast
