CDL Hospitality Trust distribution per stapled security down 6.8%
POSTED: 26 Jul 2013 10:35 PM
CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
SINGAPORE: CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
CDL Hospitality Trust also reports a fall in gross revenue by 2.9 per cent on-year to S$35.6 million in the second quarter. This was largely due to lower gross revenues from its Singapore hotels and exchange losses from a weak Australian dollar.
The REIT manager said in a statement that it expects stiff competition and the weak global economy to continue impacting performance in Singapore and Australia for the rest of the year.
CDL Hospitality Trust owns 12 hotels and one resort. Among the hotels, six are located in Singapore, including Orchard Hotel and Grand Copthorne Waterfront Hotel.
- CNA/ac
- wong chee tat :)
Showing posts with label CDL Hospitality Trusts. Show all posts
Showing posts with label CDL Hospitality Trusts. Show all posts
Saturday, July 27, 2013
Monday, January 7, 2013
CDL Hospitality Trusts buys Angsana Velavaru resort for US$71m
CDL Hospitality Trusts buys Angsana Velavaru resort for US$71m
By Toni Waterman | Posted: 04 January 2013 2056 hrs
SINGAPORE : 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 years. The resort will continue to be operated under the Angsana brand name after the acquisition.
The 113-villa resort is set on its own private island in the southern part of the Maldives archipelago.
In a conference call, Vincent Yeo, CEO of M&C REIT Management and manager of CDL Hospitality Real Estate Investment Trust, said the acquisition falls in line with its strategy to acquire quality assets which can keep up with rising Asian influence and tourism, especially Chinese travellers.
He said tourists from China have been the number one source of visitors to the Maldives since 2010 and accounted for 64 per cent of Asian tourists for the first 11 months of 2012.
The acquisition is pending approval from the relevant authorities in Maldives.
- CNA/ms
- wong chee tat :)
By Toni Waterman | Posted: 04 January 2013 2056 hrs
SINGAPORE : 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 years. The resort will continue to be operated under the Angsana brand name after the acquisition.
The 113-villa resort is set on its own private island in the southern part of the Maldives archipelago.
In a conference call, Vincent Yeo, CEO of M&C REIT Management and manager of CDL Hospitality Real Estate Investment Trust, said the acquisition falls in line with its strategy to acquire quality assets which can keep up with rising Asian influence and tourism, especially Chinese travellers.
He said tourists from China have been the number one source of visitors to the Maldives since 2010 and accounted for 64 per cent of Asian tourists for the first 11 months of 2012.
The acquisition is pending approval from the relevant authorities in Maldives.
- CNA/ms
- wong chee tat :)
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