- CDL Hospitality Trusts (SGX:J85)’s 1Q operational and financial updates were in line. y-o-y revenue/available room (RevPAR) rose across all markets, with Singapore, Japan, and Italy leading the charge – this is set to continue for the rest of 2024.
- - Read this at SGinvestors.io -
- CDL Hospitality Trusts's share price is trading at more than 30% discount to book value.
Singapore RevPAR jumped 17% y-o-y
- Singapore RevPAR (1Q24) jumped 17% y-o-y, driven mainly by increases in hotel occupancy, which rose 14.2ppts to 82%, while average room rates declined 4% y-o-y. This was due to the volume strategy adopted by manager of CDL Hospitality Trusts by targeting tour groups. This strategy is consistent with guidance earlier this year that the focus will be on increasing occupancy while holding room rates.
- - Read this at SGinvestors.io -
- Hotel RevPAR is expected to see a mid-to-high single-digit growth in 2024, mainly from increases in overall occupancy rates.
UK build-to-rent (BTR) project nearing completion.
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