While CDLHT was able to continue to improve its room rates somewhat in Singapore, demand has eased, as seen by its lower occupancy rate of 79.3% in 4QFY2023, down 6.2 percentage points. RevPar in the most recent 2HFY2023 was up just 3.5% y-o-y, although it enjoyed longer stay on average.
Analysts have trimmed their target prices for CDL Hospitality Trusts (SGX:J85
) , following its FY2023 results with distributions that came in lower than expected.
Distribution per unit for 2HFY2023 was 3.19 cents, down 11.1% y-o-y.
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