CDL Hospitality Trusts H1 DPS jumps 67.2% on strong leisure demand
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CDL Hospitality Trusts ’ distribution per stapled security (DPS) rose by 67.2 per cent to S$0.0204 for its first half ended Jun 30, from S$0.0122 a year ago, as leisure demand accelerated in the second quarter.
The strong demand was seen in the stapled group’s hotels in Singapore and the UK, as well as resorts in Maldives, where net property income (NPI) collectively grew by S$16.9 million in the half year, the group’s managers said in a bourse filing on Friday (Jul 29).
Behind the NPI growth is an almost doubling of revenue per available room (RevPAR) for the Singapore hotels in the second quarter to S$151, from S$76 over the same period a year ago.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
