CDL Hospitality Trust (CDLHT) is a REIT that invests in hospitality-related assets such as hotels and resorts. It currently owns 19 properties with a total of 5,088 hotel rooms across eight countries, namely Singapore, Australia, New Zealand, Japan, United Kingdom, Germany, Italy and Maldives. Singapore remains CDLHT’s largest revenue contributor, accounting for 60% of net property income. As of 31December 2018, these properties were valued at S$2.8 billion.
Despite growth in incoming tourist numbers over the past few years, the Singapore hospitality sector has been weak due to an uptick in supply. This caused local hotel room rates to decline over the past four years. With supply growth expected to ease going forward, the hospitality sector is finally seeing signs of recovery. With this in mind, I attended CDLHT’s 2019 AGM for more insights on the local market, and the company’s prospects going forward.
Here are eight things I