CDL Hospitality Trusts reports 1.4% drop in Q4 DPU

CDL Hospitality Trusts reported a 1.4 per cent on-year decline in income distributed per stapled security for the fourth quarter of 2012.

CDL Hospitality Trusts, which is a stapled group comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, reported a fourth quarter distribution per unit of 2.9 cents.

For the full financial year, income distributed per stapled security climbed 2.4 per cent to 11.32 cents.

CDL Hospitality Trusts added that income available for distribution for Q4 dipped 0.9 per cent to S$31.2 million.

For the full year, this increased six per cent to about S$121 million.

The management added that they will be exploring acquisition opportunities in new markets such as Japan and Dubai this year.

Vincent Yeo, CEO of M&C REIT Management, said: “An added boost was the recent announcements by the (Japanese) government of a more pro-inflation stance where they are targeting inflation at two per cent. That is very helpful for asset prices. As for Dubai, I think it has great potential as a tourism and business hub.”

Source : Channel NewsAsia – 30 Jan 2013

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