- City Developments appears to be reasonably well placed to build upon its share price momentum in 2022, with the hospitality and office segments leading the way in 2023, in our view.
- After the sale of Millennium Hilton Seoul in 1H22, City Developments has launched a strategic review of its global hospitality portfolio which could result in further monetisation initiatives. Recent sales strength of its Copen Grand EC bodes well for its next EC launch at Bukit Batok over the next 12 months.
- - Read this at SGinvestors.io -
A reasonably solid outlook for City Developments in 2023.
- Heading into 2023, we continue to be reasonably positive on City Developments (SGX:C09)’s growth prospects which we believe will be underpinned by continued recovery in its hospitality segment, and assisted by office rental reversions.
- - Read this at SGinvestors.io -
- Data from hospitality industry analytics company STR showed that up to mid-Nov 22, global occupancy rates rose 3.6ppt, the largest in over nine months, with 70% of all countries recording an increase.
Strength in office segment will eclipse residential.
- Read more at SGinvestors.io.
