Wednesday, February 1, 2012

CDLHT's DPU rises 5.8% in fourth quarter

Business Times: Wed, Feb 01
CDL Hospitality Trusts (CDLHT), which has posted a 5.8 per cent year-on-year rise in distribution per stapled security for Q4 2011, continues to look for acquisition targets in Asia Pacific markets.

'Singapore still remains our favourite market in terms of visibility and prospects,' said Vincent Yeo, CEO of M&C Reit Management, the manager of CDLHT, at a media briefing yesterday.

The stapled group posted distribution per stapled security of 2.94 cents for Q4 2011, up 5.8 per cent from the same year-ago period. Over the same period, CDLHT's gross revenue rose 13.4 per cent to $37.8 million - thanks to improved hospitality performance across the portfolio and contribution from Studio M Hotel in Singapore, which was acquired in May last year

Net property income for Q4 improved 12.7 per cent year-on-year to $35.5 million...

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Martin Koh/ Sherry Tang
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