Mainboard-listed CDL Hospitality Trusts on Friday reported a higher distribution per unit (DPU) for the third quarter ended in September.
It announced a DPU of 2.54 cents for the period, a 24.5 per cent jump compared with 2.04 cents in 2009.
Distributable income rose 44.6 per cent to S$26.9 million, as net property income increased 40.9 per cent from a year earlier to S$30.1 million.
The higher revenue was attributed to the improvement in Singapore’s hospitality industry while contribution from its recently acquired Australia Hotels also supported earnings.
The Singapore hospitality sector is expected to benefit from a growth revival in the Asian economy as more tourists are drawn to the two integrated resorts in Singapore.
CDL Hospitality Trusts said it expects to continue being a beneficiary of high occupancies.
Source : Channel NewsAsia – 29 Oct 2010