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CDL Hospitality Trusts under threat from lacklustre tourism outlook, hotel room glut
Overseas properties will be its saving grace.
CDL Hospitality Trusts’ main hotel business is at risk from Singapore’s lacklustre tourism outlook, and it is turning to overseas properties for much-needed growth.
A report by DBS stated that CDL HT’s domestic hotel revenue is likely to register a 4% year-on-year dip this year on back of sluggish tourist arrivals and a looming hotel room glut.
However, this decline can be offset by its recent Japanese acquisition which is leveraged on the growing number of tourists visiting Japan. In addition, the trust will gain from the reopening of Claymore Link Mall in the second quarter of the year.
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