CDLHT eyes rebound after renovation drag as Singapore tourism outlook brightens

[SINGAPORE] After persevering through five consecutive quarters of year-on-year declines in net property income (NPI) – brought on partly by extensive renovations of three hotels and high interest rates – CDL Hospitality Trusts (CDLHT) is looking at brighter skies.

Following the completion last year of refurbishments for W Hotel in Sentosa Cove, Grand Millennium Auckland and Ibis Perth, the stapled group is now in a position to capture demand catalysts.

“We expect 2026 to be a better year for the Singapore hospitality market, with a generally stronger events calendar,” noted Vincent Yeo, the chief executive officer of the managers of CDLHT .