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CDL Hospitality Trusts’ NPI down 14.2% YoY
NPI for the period was $30.0m.
CDL Hospitality Trusts (CDLHT) posted a 14.2% year-on-year (YoY) drop in net property income (NPI) to $30.0m in Q1 2025 from $35m a year ago.
Gross revenue for the period slipped 2.8% from $65.2m to $63.4m.
CDLHT attributed this decline to lower revenue from all markets aside from the UK and Japan.
The Japan hotel portfolio posted a 6.4% YoY increase in revenue, while the UK portfolio grew 24.2% YoY. In contrast, hotel portfolios in Singapore, Australia, and the Maldives saw declines of 18.0%, 7.9%, and 22.1%, respectively.
The average occupancy rate for the Singapore hotel portfolio was 75.0%, down 7.2 percentage points (pp).
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