Brokers' take

CDL Hospitality Trust (CDLHT) | Buy (maintained) June 11 close: S$1.61 Target price: S$2.06 UOB Kay Hian, June 11

IN the near term, we expect some drag from transitory downtime caused by asset enchancement initiatives (AEIs) as well as the absence of major events in 2019.

In the coming quarters, however, we expect earnings to turn around, led by the return of newly refurbished rooms at Orchard Hotel (from June) and the gradual ramp-up of Raffles Maldives Meradhoo.

The refurbishment projects in-progress are expected to give CDLHT's portfolio a competitive advantage in the coming years, positioning them for recov…