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CDL Hospitality Trusts H1 DPS jumps 67.2% on strong leisure demand

Wong Pei Ting

Published Fri, Jul 29, 2022 · 08:24 AM
    • W Singapore at Sentosa Cove is one of the properties under CDL Hospitality Trusts.
    • W Singapore at Sentosa Cove is one of the properties under CDL Hospitality Trusts. PHOTO: CDL HOSPITALITY TRUSTS

    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.

    cdl hospitality trustsFinancial resultsCommercial propertyHospitalityS-Reits

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