Data from CDL Hospitality Trust’s latest disclosure have been updated into the Singapore REITs table.
CDL Hospitality Trust (CDLHT) reported on 30 July that its gross revenue for 1H 2021 increased by 27.2% year-on-year to SGD66.2 million.
SGD48.3 million from these was contributed by the Singapore and New Zealand Hotels and Maldives Resorts.
Occupancies for the Singapore and New Zealand Hotels were supported by demand for accommodation facilities used for isolation purposes.
As a result, net property income (NPI) increased by 24.4% year-on-year to SGD37.0 million.
Total distribution to unitholders, after retention for working capital, for 1H 2021 was SGD15.0 million and distribution per security (DPS) was 1.22 cents, a decrease of 18.5% and 19.2% yoy respectively.
The decrease in distribution was due to effects of rent restructuring for the Germany and Italy Hotels and absence of one-off contributions, among other reasons.
The trust’s full disclosure on its results can be viewed here.
CDLHT was last done on the Singapore Exchange (SGX) at SGD1.21, which currently implies a distribution yield of 2.02% according to data compiled on the Singapore REITs table.