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CDL Hospitality Trusts' Q1 DPS down 9%

Uncertain global economy and smaller corporate travel budgets take toll on performance

Nisha Ramchandani

Published Fri, Apr 29, 2016 · 09:50 PM

Singapore

CDL Hospitality Trusts (CDLHT) posted a 9 per cent drop in distribution per stapled security (DPS) to 2.22 Singapore cents for the first quarter ended March 31, 2016, due to a challenging operating environment and leaner corporate travel budgets.

CDLHT, which is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-Reit) and CDL Hospitality Business Trust (HBT), owns 15 hotels, two resorts and a retail mall. Its portfolio comprises a total of 4,909 rooms.

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