In his Feb 2 report, Natarajan highlighted several positives for the REIT. These include a brighter hospitality outlook in Singapore this year. Performances in Australia and New Zealand are expected to strengthen following recent renovations and a stronger demand outlook. In Singapore, the analyst expects the portfolio’s revenue per available room (RevPAR) to grow by 3% to 5% y-o-y in FY2026, supported by higher visitor arrivals, a stronger events and concert pipeline, and a moderate hotel supply compound annual growth rate (CAGR) of 1.7% per annum from 2026 to 2028.
Analysts from RHB Bank Singapore and CGS International (CGSI) have issued upgrades on CDL Hospitality Trusts (CDLHT) after the REIT outperformed expectations with an FY2025 distribution per stapled security (DPS) of 4.8 cents.
“CDLHT’s 2HFY2025/FY2025 results beat estimates, from a strong Singapore and New Zealand performance (4QFY2025),” notes RHB analyst Vijay Natarajan, who upgraded his call to “buy” from “neutral”. Natarajan also raised his target price to $1 from 88 cents previously.
