Singapore-listed hotel landlord CDL Hospitality Trusts has made its first foray into the UK with the purchase of a 198-room hotel in Cambridge for £62.5 million (S$135.3 million). Announcing this in a statement on Wednesday (Sep 9), CDL Hospitality said the acquisition is its first in Europe and marks a diversification of its portfolio from the Asia-Pacific region. "The hospitality outlook for UK...
CDL Hospitality Trusts
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...
CDL Hospitality Trusts on Friday announced that it is buying the Angsana Velavaru resort in the Maldives from Banyan Tree Holdings for US$71 million (S$86.8 million). This marks the trust's first resort acquisition and a new geographic market segment. As part of the sale and leaseback agreement, CDL Hospitality Real Estate Investment Trust will grant a lease for the resort to Banyan Tree Holdings for 10...
CDL Hospitality Trusts (CDLHT) has announced a 10.2 per cent increase in its second-quarter distribution per unit (DPU) to 2.92 cents, up from 2.65 cents in the same period last year. The trust said its gross revenue climbed 6.0 per cent to S$36.6 million, due mainly to higher revenue per available room (RevPAR) and strong growth in visitor arrivals. Its net property income rose by 5.9 per cent from...
Mainboard-listed CDL Hospitality Trusts (HT) has announced a 9.1 per cent increase in its third quarter distribution per unit to 2.77 cents, up from 2.54 cents in the same period last year. The increase was attributed to its performance in its hospitality portfolio and contribution from Studio M Hotel acquired in the second quarter of 2011. The latter added S$2.8 million to its gross revenue. All in, CDL...
Mainboard-listed CDL Hospitality Trusts on Wednesday announced a 15.2 per cent rise in its distribution per unit (DPU) to 2.96 Singapore cents for the second quarter ended June 30. That is up from 2.57 Singapore cents in the same period last year. The company said that the improvement was mainly attributed to better gross revenue - which grew 12.6 per cent on-year to S$34.6 million - as well as a one-off...
CDL Hospitality Trusts has said it is planning to buy Studio M Hotel in Singapore for S$154 million. This works out to about S$428,000 per room. CDL said the acquisition is expected to be immediately yield-enhancing and would also broaden the earnings base of its portfolio. It added that the hotel has achieved impressive occupancy of 88.9 per cent since starting full operations in June last year. The...
CDL Hospitality Trusts (CDLHT) is widely seen by analysts as poised to acquire Studio M Hotel in the Mohamed Sultan area, possibly this year. The hotel, which opened in April last year and is owned by CDLHT's sponsor, London-listed Millennium & Copthorne Hotels, is seen by the market as a logical acquisition target for CDLHT. The trust manager's CEO Vincent Yeo said yesterday that typically it takes...
Mainboard-listed CDL Hospitality Trusts has announced a 4.1 per cent on-year increase in its distribution per unit (DPU) to 2.78 cents in the fourth quarter of 2010. For the full year, the trust said DPU rose 19 per cent to 10.2 cents, compared to the 8.57 cents distributed in the previous year. It said the increase came on the back of improved hospitality performance in Singapore and contribution from...
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...