OUE Hospitality

OUE Hospitality: Recent market data points to potentially softer earnings in 4Q14 as the hotel segment continues to be impacted by slow visitor arrivals and rupiah volatility. Despite potential near-term earnings fluctuations, CIMB remains bullish on OUE Hospitality as house believes this REIT is well-positioned to ride on a more sanguine tourism outlook for 2015. House reiterates its Add rating with a slightly higher TP of $1.00 (from $0.96), which factors in additional income from the recently announced Crowne Plaza Hotel acquisition.