CDL Hospitality Trusts’ NPI down 11.9% YoY in H1
Net property income for the period was $58.6m.
CDL Hospitality Trusts (CDLHT) posted a 14.2% year-on-year (YoY) drop in net property income (NPI) to $58.6m in the first half of the year.
Gross revenue for the period slipped1.8% from $127.3m to $125m.
CDLHT attributed this decline to lower revenue from all markets aside from the UK, Japan, and Australia.
The average occupancy rate for the Singapore hotel portfolio was 71.4%, down 3.3 percentage points.