CDL reports increase
This is nearly 28 percent above the projection made in its initial public offering prospectus.
All in, the trust had S$12.3 million in income available to be distributed to unitholders.
CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust, or H-REIT, and CDL Hospitality Business Trust.
Vincent Yeo, CEO of M&C REIT Management, which manages H-REIT, says hotels in Singapore continued to show significant improvements in performance.
The REIT’s benchmark Revenue per Available Room or RevPAR was some 16 percent higher than the level projected in its IPO prospectus.
It was also 25 percent higher than in the same period in 2006.
Looking ahead, the trust says it is continuing to actively seek yield accretive acquisitions in both Singapore and the Asia Pacific region.