Singapore Stock Market News
Singapore Property - Hotel - Impending turnaround
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Publish date: Thu, 28 Aug 2014, 11:14 AM
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2Q has proven to be a weak quarter for the hotel industry, with industry players seeing fewer visitors and weak participation in some corporate events. However, given a brighter outlook on the back of more events, fewer new rooms and the expectations of stronger bookings, we remain bullish as we look forward to a stronger 2H.
We expect hotel RevPAR to gain ground in 2H14 on the back of
i) lower supply of new hotel rooms than previously forecast,
ii) the recent opening of the Singapore Sports Hub, and
iii) stabilisation of the rupiah.
We think hotel REITs are becoming attractive as fundamentals strengthen. Our top pick is OUE-HT (TP: S$0.96).
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