CDLHT's near-term prospects remain subdued in Singapore, seeking inorganic growth abroad.
CDL Hospitality Trust's second-quarter result was weak as expected with the negative trends in the previous quarters persisting. Revenue and net property income contracted against the first quarter for most regions with the exception of Cambridge in the United Kingdom and Japan. Overall revenue fell 5% to SGD 42.4 million while net property declined 7% to SGD 31.3 million. Distribution per unit was largely steady at SGD 0.0223.We do not anticipate conditions to improve in the near term as globa...
CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT) and its subsidiaries and CDL Hospitality Business Trust (HBT) and its subsidiaries. HBT is a business trust managed by M&C Business Trust Management Limited. The principal activity of H-REIT and its subsidiaries is to invest in income producing real estate and real estate related assets, which are used for hospitality and hospitality related purposes. As at Dec. 31, 2014, Co. had a portfolio of 4,709 hotel rooms in the Asia Pacific, comprising six hotels and a retail mall in Singapore, five hotels in Australia, one hotel in New Zealand, two resorts in Maldives and two hotels in Japan.
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