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copared to cict this one is better as the asset is in many countries. no singe country risk.
not like cict. concentrated in singapore anything wind blow in singapore. down turn will hurt it.
let say compared uk to singapore. surely uk is more likely to be around in many hundreds of years.
not like cict. concentrated in singapore anything wind blow in singapore. down turn will hurt it.
let say compared uk to singapore. surely uk is more likely to be around in many hundreds of years.
another 1/4 percent reductions. so is 0.75 percent interest rate reduction for year. every 1% is 1.11cents impact on dps.
nz auckland hotel has completed renovations, maldives is under new brand, w hotel near/completed renovation by now.
the $1.5b perpetual securities will meant borrow money no need to pay capital just pay the 3.75% interest also mean lock in cost at 3.75%. any return on asset above that become profit.
risk of default goes very very low. it will help renewal of other loans at better rate.
also meant the moxy hotel completion is more like money for it like available. so more income coming. in 2027 coming.
why unit price still well below nta. must thanks shorts for the low price,
artificial low by shorts. opportunities for long term buyer. especially compared to 2.5% annual return.
little more risk add a lot more return .
dyodd
nz auckland hotel has completed renovations, maldives is under new brand, w hotel near/completed renovation by now.
the $1.5b perpetual securities will meant borrow money no need to pay capital just pay the 3.75% interest also mean lock in cost at 3.75%. any return on asset above that become profit.
risk of default goes very very low. it will help renewal of other loans at better rate.
also meant the moxy hotel completion is more like money for it like available. so more income coming. in 2027 coming.
why unit price still well below nta. must thanks shorts for the low price,
artificial low by shorts. opportunities for long term buyer. especially compared to 2.5% annual return.
little more risk add a lot more return .
dyodd
pasttime ( Date: 30-Oct-2025 20:56) Posted:
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https://www.straitstimes.com/business/companies-markets/amova-eastspring-target-growth-in-singapores-small-and-mid-cap-stocks
Trade small stocks
Trade small stocks
CDL Hospitality Trusts enters into new lease agreement with Millennium & Copthorne Hotels for New Zealand hotel
The new lease will run for a term of five years, with an additional five-year renewal option
[SINGAPORE] A CDL Hospitality Trusts (CDLHT) unit has inked a new lease agreement with a subsidiary of Millennium & Copthorne Hotels for the continued operation of Grand Millennium Auckland.
The new lease will run for a term of five years, with an additional five-year renewal option subject to mutual agreement, the stapled group&rsquo s manager said in a bourse filing on Monday (Nov 24).
Under the lease, the landlord will receive rent equivalent to the net operating profit of the hotel, subject to an annual base rent of NZ$2 million (S$1.5 million), excluding GST.
This structure provides some degree of downside protection to CDLHT while allowing participation in any performance upside, the group said.
The rental framework remains unchanged from the final year of the previous lease between both parties, which had been operating on a holdover basis since Sep 6, 2025.
Grand Millennium Auckland is a 453-room hotel in the heart of Auckland, New Zealand.
As one of the city&rsquo s largest hotels with extensive conference facilities, it has undergone substantial refurbishment, with remaining works on track to complete in 2025.
The opening of the New Zealand International Convention Centre in early 2026 is expected to drive stronger demand for meetings, incentives, conferences and exhibitions (Mice), positioning the hotel to capture this uplift as it completes its multi-year refurbishment by end-2025.
CDLHT sets up S$1.5 billion multicurrency debt issuance programme
DBS has been appointed the sole arranger and dealer
[SINGAPORE] CDL Hospitality Trusts (CDLHT), a stapled group consisting of CDL Hospitality Real Estate Investment Trust (H-Reit) and CDL Hospitality Business Trust (HBT), announced the establishment of a S$1.5 billion multicurrency debt issuance programme through a bourse filing on Wednesday (Nov 5).
DBS has been appointed the sole arranger and dealer for the programme. The issuers are DBS Trustee, in its role as trustee of H-Reit, and M& C Business Trust Management, as the trustee-manager of HBT.
Net proceeds will be used to refinance existing borrowings, finance or refinance investments, and for fund asset enhancement works. Funds may also be used for on-lending and general working capital purposes.
Under the programme, the issuers may issue notes and perpetual securities in various tenors and currencies.
The notes may carry fixed, floating, variable or hybrid interest rates, while the perpetual securities will have no fixed maturity date and can be issued as senior or subordinated obligations.
The securities will be offered in Singapore to institutional and accredited investors and outside the US to non-US persons.
CDLHT has received approval in-principle from the Singapore Exchange Securities Trading for the programme.
CDL Hospitality Trusts Q3 NPI falls 5.6% to S$34.3 million
Revenue for the quarter is up 2.5% on the year at S$69.2 million
[SINGAPORE] Net property income (NPI) for CDL Hospitality Trusts (CDLHT) fell 5.6 per cent to S$34.3 million for the third quarter ended Sep 30, from S$36.3 million in the year-ago period.
Revenue rose 2.5 cent to S$69.2 million from S$67.5 million on the back of stronger contributions from the Australia and UK portfolios, the managers said on Thursday (Oct 30).
Revenue per available (RevPAR) room came in mixed across the stapled group&rsquo s portfolio. Its Singapore, Japan, New Zealand, Maldives, Germany and Italy markets logged declines while its Australia and UK markets experienced growth.
The group&rsquo s core Singapore market NPI fell 8.1 per cent on the year to S$21.9 million from S$23.8 million. This came alongside lower RevPAR, which fell 5.9 per cent to S$201 from S$214. Occupancy for Singapore hotels was up 3.3 percentage points at 88.3 per cent for the quarter, from 84.9 per cent previously.
Singapore RevPAR was labelled as having a &ldquo creditable&rdquo performance, even as it was weighed down by the shift of the Formula 1 Singapore Grand Prix to October from September last year.
Additionally, the managers said W Hotel&rsquo s performance was further affected by the resumption of room renovations in mid-August following a six-week pause.
Its Japan, New Zealand, Maldives, Germany and Italy markets logged lower RevPAR and NPI. The New Zealand market, comprising 5.1 per cent of CDLHT&rsquo s portfolio, was the biggest decliner and fell 61.4 per cent in terms of NPI. RevPAR fell 10.7 per cent to NZ$95 (S$71) from NZ$106 in Q3 2024 due to a higher volume of refurbishment works.
Hotels in the stapled group&rsquo s Australia and UK markets recorded RevPAR and NPI growth in local currency.
The UK market, which makes up the largest share of CDLHT&rsquo s portfolio after Singapore, recorded 4.4 per cent higher hotels RevPAR at £ 152 (S$260) and 8.6 per cent NPI growth across its hotel business.
As at Sep 30, 2025, CDLHT&rsquo s gearing stood at 42.4 per cent. Its interest coverage ratio was 2.1 times and its weighted average cost of debt was 3.4 per cent.
Outlook
The managers said that trading conditions are expected to stay competitive given the number of new hotel openings over the last few years. This is despite Singapore&rsquo s supply pipeline remaining limited for the remainder of 2025 and 2026.
CDLHT&rsquo s core market of Singapore is &ldquo strengthening its position as an attractive destination with a compelling value proposition&rdquo .
The managers cited the government&rsquo s Tourism 2040 road map which aims to treble meetings, incentives, conventions and exhibitions (Mice) tourism receipt.
They said that efforts to build a &ldquo robust pipeline of Mice events&rdquo , expand Mice infrastructure and enhance business-leisure offerings will &ldquo reinforce Singapore&rsquo s status as the premier destination for business travel and events&rdquo .
Huat arh!
moxy hotel projections.
475 keys. if can get $201 pe rm per night. 365 days at 88% full
475x201x365x0.88=$30m+
eps slightly above 2cents. so will results in 2x20=40cents in capital value. if not dilution due to rights issue.
475 keys. if can get $201 pe rm per night. 365 days at 88% full
475x201x365x0.88=$30m+
eps slightly above 2cents. so will results in 2x20=40cents in capital value. if not dilution due to rights issue.
| 1Q25 | 2Q25 | 3Q25 | |
| singapore | 17718 | 15719 | 21877 |
| New Zealand | 1693 | 267 | 417 |
| Australia | 618 | 1078 | 1236 |
| Japan | 1105 | 1371 | 869 |
| Maldives | 3129 | 239 | 6 |
| United Kingdom | 4342 | 6391 | 6952 |
| Hotels | 2706 | 4316 | 4783 |
| Living Assets | 1636 | 2075 | 2169 |
| Germany | 1189 | 2180 | 2113 |
| Italy | 183 | 1373 | 831 |
| Total | 29977 | 28618 | 34301 |
the poor performance is due to New Zealand, Maldives. so these are partly renovation, competitions. w hotel renovation affected as well
interest rate has fallen 1/2 percent. the last 1/2 percent is not reflected yet.
UK asset are starting to perform.
so what will happen to profit in the next few quarters.
Gearing 42.4% with funding needed for Moxy hotel. No a good sign.
luckyguy3 ( Date: 29-Oct-2025 22:16) Posted:
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Fund raising coming up for CDL Htrust for the $400+ million purchase of Moxy Hotel.
Potential rights issue or private placements at discount to trading price.
When you see a " Halt" , it will mean fund raising which usually tends to be 8 to 10% discount from
trading price and will see share price goes down accordingly.
Those who wants to hold on to this counter and pray that the dreaded " Halt" will not come, good luck.
Potential rights issue or private placements at discount to trading price.
When you see a " Halt" , it will mean fund raising which usually tends to be 8 to 10% discount from
trading price and will see share price goes down accordingly.
Those who wants to hold on to this counter and pray that the dreaded " Halt" will not come, good luck.
Best of luck to those vested for 85 to 90c, plus a little higher it may seem, give a little more time for CDL H Trust manager to explain the next steps.
And yet here you are, passionately replying ... you little count without o.
why not? this is open forum for discussion, anyone can have bad or good opinions about the counter. This forum is not a cheer leading forum for u to trumpet and talk up the counter only.
It works both ways...
It works both ways...
1362945 ( Date: 29-Oct-2025 21:44) Posted:
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report me for stating facts? u shd report those who spread rumours and false information
1362945 ( Date: 29-Oct-2025 21:10) Posted:
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Thanks so much to report luckyguy3 toxic behavior.
Just wait for tomorrow morning the 3Q/25 updates.. talk so much useless
1362945 ( Date: 29-Oct-2025 20:15) Posted:
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- It is important to look at present and forward planning, especially in current circumstances of fast changes and interest rates changes (important criteria for trusts).
- Whoever quoted an old text from July is out of date and completely with the wrong context.
- Q3 2025 is materially stronger than Q1 2025 across Singapore' s hotel/hospitality sector, and broadly as good as or better than Q2 on hotel quality metrics (occupancy, ADR, RevPAR) led by Marina Bay Sands (MBS) whose hotel metrics in Q3 were near-record levels after renovation completion. CDLHT' s own Q1/1H results lagged this sector improvement, so CDLHT may still be catching up as the sector turned up in Q3.
- Other large groups (Genting Singapore, Shangri-La, CapitaLand/Ascott) show the same directional picture: Q1 weakness (renovations, soft corporate demand) &rarr Q2 recovery in parts &rarr Q3 stronger demand and hotel performance, helped by completed renovations, events/MICE and tourism tailwinds though variance exists by company and segment.
- CDLHT specifics matter: CDLHT' s own Q1/1H weakness was concentrated in its Singapore hotel portfolio (lower RevPAR, occupancy) and its assets/renovation timing differ from MBS. So even though the sector is improving by Q3, CDLHT may lag if its Singapore assets still face renovation drag, weaker corporate demand or other idiosyncratic issues.
Broker: Maybank Research Pte Ltd
Date of Report: July 31, 2025
CDL Hospitality Trusts Faces Challenging Climate: DPU Slumps Amid Renovations and Rising Costs
Overview: CDL Hospitality Trusts Under Pressure with DPU Down 21%
CDL Hospitality Trusts (CDREIT SP), a leading Singapore-listed REIT focusing on hospitality, reported a difficult first half of FY2025. The trust saw its distribution per unit (DPU) fall sharply by 21.1% year-on-year, driven by operating headwinds across multiple geographies, ongoing renovations at key properties, and increased interest expenses. Despite proactive debt management and stable gearing, persistent challenges have led to a revised target price and a maintained HOLD rating from analysts.
Key Financial Highlights and Performance
- 1HFY25 DPU: SGD 1.98 cents, down 21.1% YoY
- 1H Revenue: SGD 125.1 million, down 1.8% YoY
- Net Property Income (NPI): SGD 58.6 million, down 11.9% YoY
- Singapore Hotels RevPAR: Fell 14.2% YoY due to a high base
- Gearing: Stable at 42%, up slightly from 41.8% in 1Q
- Cost of Debt: Declined from 3.9% to 3.6%, with further 10bps reduction guided
- 12M Price Target: SGD 0.70 (cut from SGD 0.75), reflecting a 9% downside
- Current Share Price: SGD 0.83
- Market Capitalisation: SGD 1.0B
- DPU Yield (FY25E): 5.9%
Challenging Operating Conditions Across Key Markets
CDL Hospitality Trusts&rsquo performance in 1HFY25 was materially affected by several factors:
- W Hotel Singapore Renovations: Accounted for 40% of the NPI decline. Management expects the bulk of the renovations to be completed by year-end, which should help lift performance in the next fiscal year.
- UK Market: Provided support through contributions from recent acquisitions (The Castings, Benson Yard, Hotel Indigo Exeter), but overall DPU was dragged down by higher borrowing and interest costs associated with UK Build-to-Rent (BTR) projects.
- Other Overseas Markets: NPI declined in most markets except UK, Japan, and Australia. Japan and Germany showed positive RevPAR growth, while New Zealand, Maldives, UK, and Italy saw declines.
- Interest Expenses: While same-store interest expenses fell, overall interest costs rose 4.2% due to UK acquisitions and the expensing of borrowing costs for The Castings
Revised Estimates and Lowered Target Price
&ndash DPU estimates have been cut by 10% for FY25 and 4% for FY26, mainly due to lower NPI, partially offset by reduced borrowing costs. &ndash The dividend discount model valuation now applies a cost of equity of 6.9%, resulting in a lower target price of SGD 0.70. &ndash The HOLD rating is maintained due to ongoing market challenges and negative surprises in borrowing expenses.