CDL Hospitality Trusts' Q1 DPS down 9%
Uncertain global economy and smaller corporate travel budgets take toll on performance
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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