Published:
CDL Hospitality Trust's net income dipped 10.9% to $25.5m in Q1
On back of weak hotel revenue.
CDL Hosptality Trust reported that its net income dipped 10.9% to $25.5m in the first quarter, on back of weaker performance from its Singapore hotels.
Domestic hotel revenue declined 13% year-on-year, which management attributed to the absence of the biennial Singapore Airshow this year as well as an
uncertain economic environment.
Consequently, net property income decreased 6.1% or $2.2 million to S$34.5 million in 1Q 2015.
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