CDL Hospitality Trusts, a stapled group which includes CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, posted 10.06 cents in distribution per stapled security for FY2015, 8.4% lower than the 10.98 cents DPU declared in FY2014.
Distributable income was 7.8% lower at $99.2 million for the year to December.
Revenue rose 3.4% to $172.4 million, though net property income fell 2.5% to $137 million due to the challenging hospitality sectors in Singapore and Maldives, as well as the weakness of the Australian dollar and the New Zealand dollar against the Singapore dollar. However, the maiden income from the newly acquired Hilton Cambridge City Centre and the full year contribution from Japan Hotels helped to partially offset the decline.
The trusts’ managers noted that its income diversification strategy in Hilton Cambridge City Centre and Japan Hotels has helped to mitigate the effects of the economic slowdown in its other markets, and added that they would take a cautious outlook for its hotels for 2016.
CDLHT’s units closed unchanged at $1.27 cents on Wednesday.
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Distributable income was 7.8% lower at $99.2 million for the year to December.
Revenue rose 3.4% to $172.4 million, though net property income fell 2.5% to $137 million due to the challenging hospitality sectors in Singapore and Maldives, as well as the weakness of the Australian dollar and the New Zealand dollar against the Singapore dollar. However, the maiden income from the newly acquired Hilton Cambridge City Centre and the full year contribution from Japan Hotels helped to partially offset the decline.
The trusts’ managers noted that its income diversification strategy in Hilton Cambridge City Centre and Japan Hotels has helped to mitigate the effects of the economic slowdown in its other markets, and added that they would take a cautious outlook for its hotels for 2016.
CDLHT’s units closed unchanged at $1.27 cents on Wednesday.
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