Basic Profile & Key Statistics
CDL Hospitality Trusts (CDLHT) is a stapled group comprises of CDL Hospitality Real Estate Investment Trust ("H-REIT") and CDL Hospitality Business Trust ("HBT"). CDLHT invests in mainly hotels and one retail mall.
Lease Profile
REVPAU of S$ 80.20 is manually calculated from 1H result, weighted by GRI, and excludes Australia hotels as CDLHT receives fixed rent. WALE is long at 5.15 years where the highest lease expiry of 40.7% expired in the year 2026 which is still some number of years away. CDLHT received all of its properties from SGD and major currencies which are NZ$, US$, ¥, € and £. Weighted average land lease expiry is long at 76.7 years.
Debt Profile
Gearing ratio is healthy at 37.1%. Cost of debt is low at 1.9% despite high unsecured debt % at 90.2%. Fixed-rate debt % is low at 61.6% which is favorable in the current environment. Interest cover ratio is low at 3.4 times. WADE is short at 2.4 years where the highest debt maturity of 31.2% falls in the year 2021....