CDL Hospitality Trusts' distribution per stapled security (DPS) fell 9.7% to 2.36 cents in the third quarter ended Sept 30, 2015, from 2.61 cents a year ago.
Distributable income fell 9% to $23.3 million from $25.6 million previously, while net property income also slipped 2.2% to $33.1 million from $33.8 million.
However, revenue came higher at $41.1 million, up 2.4%, from $40.1 million mainly due to the contribution from the acquisition of the Japan Hotels and the newly refurbished mall, Claymore Connect.
This was dampened by reduced rent contribution from the Singapore hotels, CDL Hospitality says.
The Australia hotels and New Zealand hotels also recorded lower contributions due to the weakened Australian dollar and New Zealand dollar against the Singapore dollar.
CDL Hospitality says the longer term outlook for Singapore tourism remains positive as the city continues to strengthen its status as a leading MICE destination globally.
On the supply front, it reckons the industry room inventory will continue to grow by an estimated 4,361 rooms or 7.6% in 2015.
CDL Hospitality ended flat at $1.395 on Wednesday.
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Distributable income fell 9% to $23.3 million from $25.6 million previously, while net property income also slipped 2.2% to $33.1 million from $33.8 million.
However, revenue came higher at $41.1 million, up 2.4%, from $40.1 million mainly due to the contribution from the acquisition of the Japan Hotels and the newly refurbished mall, Claymore Connect.
This was dampened by reduced rent contribution from the Singapore hotels, CDL Hospitality says.
The Australia hotels and New Zealand hotels also recorded lower contributions due to the weakened Australian dollar and New Zealand dollar against the Singapore dollar.
CDL Hospitality says the longer term outlook for Singapore tourism remains positive as the city continues to strengthen its status as a leading MICE destination globally.
On the supply front, it reckons the industry room inventory will continue to grow by an estimated 4,361 rooms or 7.6% in 2015.
CDL Hospitality ended flat at $1.395 on Wednesday.
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