Crumbling corporate demand delays CDL Hospitality Trust’s rebound to 2H17

In addition to continued supply pressures.

While CDL Hospitality Trust’s (CDLHT) has plenty to look forward to in its overseas properties, analysts have delayed expectations of a turnaround for the company.

According to a report by RHB, CDLHT’s revenue per available room was previously anticipated to rebound by end-2016. However, crumbling corporate market conditions on top of persistent supply pressures have pushed expected turn around to the second half of 2017.

Meanwhile, RHB notes that Brexit has done little to dampen CDL Hospitality Trust’s (CDLHT) performance to date. CDLHT management asserts it hasn’t seen any cancellations in corporate demand in its UK hotel following Brexit. Further, on the retail front, CDLHT its repositioned Claymore Connect has nabbed 90% occupancy.

In addition, Japan and New Zealand markets remain bright spots for the company thanks to robust market dynamics. RHB points out that CDLHT recently signed a new lease structure (3+3+3 years) for its New Zealand hotel with increased variable rents to snap up the upside potential.

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