“In July 1-24, its Singapore hotels’ RevPAR rose 0.9% y-o-y. Meanwhile, based on latest data from the Singapore Tourism Board (STB), Horwath HTL and CDLHT, we note that some of 2017’s new room supply has been pushed to 2018, which is a positive,” says Natarajan.
SINGAPORE (July 31): CDL Hospitality Trusts (CDLHT) is RHB’s preferred hospitality REIT pick given that it remains one of the best proxies to ride the expected rebound in Singapore hotel RevPARs.
In a Monday report, analyst Vijay Natarajan says CDLHT’s 2Q17 results were in line as it reported a 2.7ppt rise y-o-y in hotel occupancy rates while room rates dipped 4.7%. This led RevPAR to decline by 1.4%.
