CDLHT says hotel rates will stay competitive amid supply (Amended)

Singapore

HOTEL room rates are expected to stay competitive as more supply comes on board, said CDL Hospitality Trusts (CDLHT) as it on Friday reported a 0.9 per cent fall in distribution per stapled security (DPS), reflecting lower net property income.

It said industry room inventory will continue to grow by an estimated 2,866 rooms in 2016, further increasing room stock by 4.7 per cent. "Room rates are likely to remain competitive as new hotels seek to build their base business," the trust said in a media statement.