On 30 April 2024, CDL Hospitality Trusts (“CDLHT”) have announced their first quarter business update for 2024. There are also no DPU updates for this quarter, although management have disclosed that net property income has improved overall by 6.8%, mainly contributed by the Singapore hotels. Whether this translates to DPU improvement will have to be seen in the half year result announcement. Metrics relating to debt have slightly worsened, although for now unlikely to have any major negative impacts.

Website: Financial Statements And Related Announcement::Full Yearly Results

Photo source: https://www.businesstimes.com.sg/companies-markets/cdl-hospitality-trusts-h2-dps-173-s00359-continued-global-travel-recovery

Background

CDLHT is one of Asia’s leading hospitality trusts. It comprises CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust (“HBT”), a business trust. CDLHT was listed on the Mainboard of the Singapore Exchange Securities Trading Limited on 19 July 2006, with H-REIT being the first hotel real estate investment trust