CDL Hospitality Trusts net property income up 34.8% in Q3

Properties from Germany, Italy, and Japan turned a profit.

CDL Hospitality Trusts net property income was at $20.4m in the third quarter, a 34.8% increase from the $15.19m recorded in the same period last year.

Properties from Germany, Italy, and Japan finally turned a profit from the previous year’s recorded losses, whilst properties from Maldives and Australia still registered losses.

Net property income from Singapore hotels decreased by 7.4% y-o-y at $8.56m, whilst net property income from Claymore Connect increased by 65.4% at $349,000.

In a bourse disclosure, CDL said room occupancies for five of its Singapore hotels were supported by the demand for dedicated isolation facilities.

Moving forward, it expects to continue recovering its operations as international tourism shows signs of rebounding from pre-pandemic levels.