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Vaccines, return of travel prompt upgrades for hotel trusts

CGS-CIMB puts out 'add' calls on Ascott Residence Trust, CDL Hospitality Trust

    Lisa Kriwangko

    Published Fri, Mar 26, 2021 · 09:50 PM

    Singapore

    TRAVEL - both domestic and international - is on the rise, and owners of hotel properties should see income growth this year.

    CGS-CIMB has therefore upgraded its calls on Ascott Residence Trust (ART) and CDL Hospitality Trust (CDLHT) - to "add" from "hold" - and raised its target prices on expectations of faster revenue recovery.

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    ascott residence trustcdl hospitality trusts

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