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Maybank upgrades CDLHT to "buy" on better earnings visibility

The Edge Singapore
The Edge Singapore5/3/2022 03:53 PM GMT+08  • 2 min read
Maybank upgrades CDLHT to "buy" on better earnings visibility
W Sentosa, one of the properties under CDLHT / Photo: Samuel Isaac Chua
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Maybank Securities’ Chua Su Tye has upgraded his call on CDL Hospitality Trusts from “hold” to “buy” as he sees this stapled REIT as the “best hospitality sector recovery proxy”.

CDLHT on April 29 reported that net property income and revenue for 1QFY2022 ended March was up by 23% and 36% y-o-y respectively.

It attributes the gain to a recovery in revenue per average room night in its properties spread across Singapore, Japan, Germany, Italy, UK and the Maldives, in line with the relaxation of travel in more countries.

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