Singapore-listed CDL Hospitality Trust(CDLHT) (SGX:J85) posted a distribution per stapled security (DPS) of 2.75 Singapore cents for its 1Q 2014, representing a rise of 2.2% as compared to the corresponding reporting period in 2013.

CDLHT's gross revenue in for the period increased 15.3% to SGD43.8 million in 1Q 2014, bolstered by its latest acquisition, Jumeirah Dhevanafushi, which contributed SGD6.9 million to its takings. Angsana Velavaru, CDLHT’s resort in the Maldives, added another SGD0.7 million to total revenue. Contribution from its Singapore Hotels was up SGD0.4 million for the quarter.

Foreign exchange movements against the Australian dollar and lower variable income in the quarter saw CDLHT receiving reduced rental contributions from its Australia Hotels. However its New Zealand properties saw an increase of SGD0.15 million in rental revenue, partly due to the stronger New Zealand dollar.

For the rest of the year, CDLHT expect projected growth in tourist arrivals in Singapore to bolster its takings. The tourism and hospitality sector in Singapore is still poised to grow as industry observers expect visitor arrivals to grow by 6% and spending to increase some 3%. However the addition of 2500 rooms into the supply stream may hamper growth.

As at 31 March 2014, CDLHT's gearing ratio stood at 29.9%.

Units of CDLHT closed the trading week 1.1% higher on the Singapore exchange at SGD1.83.