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CDL Hospitality Trusts' Oct uptick in Singapore RevPAR a pleasant surprise

PC Lee
PC Lee11/1/2018 01:46 PM GMT+08  • 3 min read
CDL Hospitality Trusts' Oct uptick in Singapore RevPAR a pleasant surprise
SINGAPORE (Nov 1): RHB Research and OCBC Investment Research are pleasantly surprised after CDL Hospitality Trusts (CDLHT) reported Singapore RevPAR (Revenue per available room) for the first 29 days of Oct was up 7.2% y-o-y.
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SINGAPORE (Nov 1): RHB Research and OCBC Investment Research are pleasantly surprised after CDL Hospitality Trusts (CDLHT) reported Singapore RevPAR (Revenue per available room) for the first 29 days of Oct was up 7.2% y-o-y.

Management says the high RevPAR growth was on the back of strong leisure and corporate demand with some of its hotels reaching close to 100% occupancy.

As a result, management remains optimistic on 2019 outlook and is guiding for the industry’s RevPAR growth at 3-5%.

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