CDL Hospitality Trusts' net income jumps 25.% YoY to $24.2m

The company's Singapore assets were among the main contributors to the increase.

CDL Hospitality Trusts (CDLHT) saw its net income jump by 22.5% YoY to $24.2m in Q1 2022.

Based on CDLHT's lattes financial statement, their Singapore assets were amongst the main contributors to the increase, along with the Maldives, the UK, and Germany.

The NPI of the company's Singapore hotels grew 24.0% YoY to $10.04m in Q1 2022, despite a decrease in their average occupancy rate by 15.4 percentage points.

Meanwhile, the company's Singapore hotels also saw a 40.7% YoY uptick in its revenue per available room (RevPAR) to $95 on the back of average rate growth.

"Two of CDLHT’s Singapore Hotels continued to be used for isolation purposes in 1Q 2022 and W Hotel continued to experience strong leisure demand," the company added.