Photo from Capitaland
Its real estate investment business saw an 11% YoY increase.
CapitaLand Investment recorded an increase in its overall revenue in Q1.
The company attributed the increase to the significant improvement in its lodging segment which saw higher management fees and overall improved occupancy and room rates for owned properties.
In Q1, it signed more than 4,000 lodging units and opened more than 900.
Fee-related earnings from its lodging management segment increased 38.0% YoY to $76m.
Meanwhile, CLI also reported a revenue increase in its real estate investment business (REIB). Revenue for its REIB rose 11.0% YoY to $447m.
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