CDLHT's overseas business can mitigate domestic headwinds
A SIZEABLE increase in hotel room supply in Singapore could mean that the local hotel industry will remain challenging for CDL Hospitality Trusts (CDLHT) this year.
Headwinds in the global economy are also lending to weaker corporate demand, especially from the oil & gas, offshore marine and shipping sectors.
Singapore accounts for a sizeable chunk of CDLHT's portfolio, translating to 62 per cent of its FY16 net property income (NPI). This is down from 66 per cent in FY15, due to a UK property acquired in October that year.
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