CDL Hospitality Trusts' property income up 7.8% to $40.62m

Thanks to improved performance from The Lowry Hotel and Pullman Hotel Munich.

CDL Hospitality Trusts' (CDLHT) impressed in Q4 as their net property income jumped by 7.8% YoY from $37.69m to $40.62m.

According to its financial statement, NPI was lifted by inorganic contribution of $6.8m from The Lowry Hotel and $2.5m from Pullman Hotel Munich.

The Singapore portfolio performance for Q4 remained stable despite the competitive trading environment.

New Zealand Hotel gave a lower contribution due to weakened currency and higher local property tax. Its Japan, Maldives, and Hilton Cambridge properties also delivered a softer trading performance.

Distributable income rose 9.8% YoY from $30.9m to $33.9m, whilst distribution per unit (DPU) dipped by 5.7% YoY from 3 cents to 2.83 cents.

After the right issue, DPU rose to 3.39 cents.

CDLHT said, "The Singapore hospitality market observed a strong supply materialisation in Q4 with the opening of seven new hotels." Its Singapore hotels recorded a modest improvement in revenue per available room (RevPAR) by 1.1% YoY.

Across its other geographical segments, RevPAR in the Maldives declined 13.2%, New Zealand grew 5.5%, Japan fell by 4.5%, UK increased by 2.7%, and Germany grew 3.5%.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia