“Visitor arrivals have picked up since July as Singapore becomes a preferred destination for well-heeled Chinese tourists,” he says, adding that CDLHT will benefit from the continued recovery in Germany and Italy where the REIT also owns properties.
UOB Kay Hian Research analyst Jonathan Koh has maintained his “buy” call on CDL Hospitality Trusts (CDLHT) (SGX:J85
) with a lower target price of $1.48, down from $1.55 previously.
In his report dated Sept 12, Koh says that the REIT’s six Singapore hotels will benefit from higher occupancies and increased contributions from Grand Copthorne Waterfront Hotel during the seasonally stronger second half of the year.
