CDL Hospitality Trusts

CDL Hospitality Trusts announces 2H and FY 2024 results Some key takeaways:   · RevPAR growth for 2H 2024 and FY 2024 was recorded across most portfolio markets · Total distribution per Stapled Security of 2.81 cents and 5.32 cents for 2H 2024 and FY 2024 respectively · Total Portfolio Value increased by 4.6% yoy to S$3.3 billion as at 31 December 2024 · 2H 2024 saw the opening of The Castings (residential Build-to-Rent property) in Manchester, the acquisition of Hotel Indigo Exeter in Exeter and maiden foray into student accommodation with Benson Yard in Liverpool · Inorganic contributions from The Castings, Hotel Indigo Exeter and Benson Yard to support earnings growth in FY 2025   Mr Vincent Yeo, Chief Executive Officer of CDLHT’s managers, concluded, “While the market is adjusting to new demand normalisation, the competitive landscape in Singapore has also heightened with new hotels emerging. However, we remain optimistic about the prospects for the Singapore market in the medium term, particularly with new tourism attractions on the horizon. Our new acquisitions will augment our income streams in 2025 while the increased exposure in the living asset class will also enhance the stability of the portfolio income.   For existing assets, strategic asset enhancement initiatives will continue to be selectively undertaken to invigorate organic growth and fortify the competitive positioning of the portfolio. In 2024, we have faced income disruption for our Australasian portfolio due to the ongoing refurbishments but we will reap the benefits in the coming years.   The high interest rates experienced in FY 2024 has weighed heavily on our earnings. Hence, the potential easing of interest rates, particularly in Europe, will be beneficial for us.”   More details on CDLHT’s 2H and FY 2024 results can be found here: https://lnkd.in/gagcEn8x

Honoured to host the Maldives' milestone two millionth visitor at our beautiful Raffles Maldives Meradhoo Resort.

Ending the year with some exciting news!    We are thrilled to announce our very first acquisition in the PBSA sector - Benson Yard, a newly opened fully operational PBSA with 404 beds in Liverpool, UK.    Liverpool has a deep student market with five higher education institutions and more than 55,000 full time students.    Mr Vincent Yeo, CEO of the Managers, said, “We are pleased to acquire a high-quality, brand new asset in an excellent location. This acquisition is the perpetuation of our revised principal investment strategy to invest into longer stay living assets so as to support long-term growth through diversification and enhanced income resilience. Benson Yard marks our maiden entry into Liverpool. The PBSA market in Liverpool is supported by key drivers – a growing student population, its status as a Russell Group university city and a vibrant football culture. Along with Benson Yard’s exceptional location and facilities, the asset is underpinned by strong fundamentals. Importantly, at a purchase price of £37.3 million (~S$63.9 million), we were able to secure this Acquisition from administrators at a meaningful discount relative to current replacement cost and independent valuation, positioning the asset for capital appreciation in the future, amid elevated institutional investment interest.”

Excited to announce that TEN London has been named Winner of the Public Area of the Year Award at The Brit List Awards! What an incredible event hosted by Hotel Designs to celebrate the leading interior designers, architects, and hoteliers across the UK. We’re honored to be recognized for our groundbreaking BTR project, The Castings, designed for CDL Hospitality Trusts in Manchester. This project sets new standards for the living sector—an achievement made possible by the outstanding collaboration with CDL Hospitality Trusts, Packaged Living, Midgard Ltd, and Native Residential. Thanks to Neil McGinty, Mandy Koo, Zhi Yang Lim, and Mark Woodrow for their invaluable support and contributions. It was a privilege to be nominated alongside industry leaders David Collins Studio, Newman Gauge Design Associates, Bell & Swift, No Uniform, and Marcel Wanders & IHG in this category—congratulations to all! #BritListAwards #AwardWinningDesign #HotelDesigns #InteriorDesignHouse #TENLondon #TENDesignHouse #BuildToRent #BTR #HospitalityDesign #ResidentialDesign #PublicAreaDesign #DesignExcellence

We have some exciting news😍 We’re absolutely delighted to announce the newest gem in our portfolio — Hotel Indigo Exeter 🏨💫 We’re beyond excited to partner with the amazing team at Hotel Indigo and look forward to offering guests an unforgettable stay! 🌟 📎Read more via our website! https://lnkd.in/gi59ejUZ #HotelIndigoExeter #MTHotelManagement #HospitalityWithHeart

CDL Hospitality Trusts announces 3Q and YTD Sep 2024 results Some key takeaways: · Pent-up post-pandemic travel demand normalised across most markets for the quarter · 3Q 2024 RevPAR performance was mixed across the portfolio with half the markets experiencing growth. Portfolio NPI for the quarter ended 6.8% lower year-on-year · Nearly all markets, apart from New Zealand, improved RevPAR performance for YTD Sep 2024 and NPI increased 1.0% year-on-year to S$102.9 million · The Castings, our maiden Build-to Rent asset, achieved a physical occupancy of 46.3% as at 30 Sep 2024 Mr Vincent Yeo, Chief Executive Officer of CDLHT’s managers, said, “In our core market of Singapore, year-to-date arrivals are still below pre-pandemic levels and could be potentially bolstered by recovery from key source markets like China, Indonesia, and India. The Castings is on track to stabilise in 2025 and will provide stable long-stay rental to augment income streams. We will benefit from inorganic contribution from Hotel Indigo Exeter once the acquisition is completed. CDLHT is positioned to capitalise from declining borrowing costs as the interest cycle turns.” More details on CDLHT’s 3Q and YTD Sep 2024 results can be found here: https://lnkd.in/gxFZi9nU

We are pleased to announce the acquisition of our fourth hotel in the UK, Hotel Indigo Exeter. Located in the heart of Exeter, the property is situated on the doorstep of the main retail high street, the Princesshay Shopping Centre, which is the pre-eminent shopping destination in Exeter and attracts significant footfall. It is also close to the commercial district, major transport nodes and iconic attractions. After going through an extensive conversion from a departmental store, the hotel fully opened in October 2023. The hotel is of high quality with brand new interiors, top tier design and build specifications. At a purchase price of £19.4 million (~S$33.2 million), the acquisition represents a significant discount to the current replacement cost. Mr Vincent Yeo, Chief Executive Officer of CDLHT’s managers, said, “We are delighted to acquire a high quality asset with brand new interiors in the best location in the heart of Exeter. This is a continuation of our strategy to pursue accretive acquisitions that augment our income streams. This acquisition also increases our exposure to the burgeoning lifestyle hotel market. We have identified areas where we could potentially drive better performance befitting of the quality of the product and its excellent location. We believe our Stapled Securityholders will benefit from this opportune acquisition, especially at a point when the interest rate cycle is expected to turn.” To read more: https://lnkd.in/gRA5djAx

Thrilled to announce that we have been lauded as the joint winner of the prestigious Shareholder Communications Excellence Award (REITs & Business Trusts Category) at last evening’s Securities Investors Association (Singapore) Investors’ Choice Awards 2024, which was graced by President Tharman Shanmugaratnam.   It is a phenomenal achievement and a testament to the team’s persistent efforts to engage with shareholders in a transparent, timely and consistent manner. A huge thank you to SIAS and its selection committee for the acknowledgement. We are very honoured by the recognition and will continue to advocate for high standards in our shareholder communications, transparency and corporate governance practices.   Vincent Yeo, Chief Executive Officer, said: “Our approach has always been one of proactive, clear communications and regular engagement with our various stakeholder groups. It is a tremendous honour to be recognised among esteemed peers. We are grateful and value the support and confidence that has been placed in us. We are committed to continue to build investor confidence.”  #CDLHT #City Developments Limited #SIASAwards2024

CDL Hospitality Trusts reports YoY NPI growth of 5.9% for 1H 2024 Key highlights include: -RevPAR growth for 1H 2024 recorded across virtually all portfolio markets -1H 2024 NPI increased by 5.9% year-on-year to S$66.5 million -The Castings (UK BTR) opened in mid-July 2024, coinciding with the active summer leasing season Mr Vincent Yeo, Chief Executive Officer of CDLHT’s managers, said, “In our core market of Singapore, the first quarter got off to a strong start, bolstered by a packed concert and event calendar and the commencement of visa-free travel between Singapore and China. The second quarter saw more muted activity in the hospitality sector, as demand began to normalise from pent-up travel demand. As there is still a gap of visitor arrivals to pre-pandemic levels, there is still a runway for growth ahead. Amidst a weak global economy, our diversified portfolio of hotels continued to show growth.” More details on CDLHT’s 1H 2024 results can be found here: https://lnkd.in/gMBwb2WU

It was a rousing success! We were delighted to meet and mingle with the guests at the launch party. A heartfelt thank you to Native for organising such a successful event to mark CDLHT’s maiden BTR opening in the UK. An exciting new chapter begins…