CDL Hospitality Trust's Grand Millennium Auckland. (Photo: CDL Hospitality Trust)CDL Hospitality Trust's Grand Millennium Auckland. (Photo: CDL Hospitality Trust)

Amid falling RevPAR and average occupancy figures, CDL Hospitality Trust (CDLHT) has announced lower revenue and distribution for its latest reporting period.

The hospitality trust reported distribution per stapled security (DPS) of 2.09 cents for its 1Q 2019 on 30 April, a fall of 3.7% year-on-year.

Revenue and net property income (NPI) for the quarter fell by 10.6% and 10.7% year-on-year to SGD43.3 million and SGD33.8 million respectively.

Correspondingly, total distribution fell by 3.0% over the same period to SGD25.2 million.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.