Strong growth from NZ hotel buoys CDL's hospitality Reit in Q1

Singapore

A CHANGE in rent structure and strong growth from its New Zealand hotel lifted CDL Hospitality Trusts' (CDLHT) distribution per stapled security for the first quarter of 2017 to 2.42 Singapore cents, up 9 per cent from a year ago.

For the three months ended March 31, its total distribution to stapled securityholders after retention for working capital rose 10 per cent year-on-year to S$24.1 million.