Demand And Interest-rate SensitivityA setback in global travel demand or an unexpected rise in interest rates could reduce occupancies and raise financing costs, squeezing distributable income.
Fading Capital-gain Support For PayoutsTapering capital gain distributions removes one-off boosts to payouts, leaving distributions more reliant on operational performance to be maintained.
Rising Supply PressureIncreasing supply of new hotel rooms in Singapore could limit the ability to raise room rates and compress revenue per available room.