CDL Hospitality Trusts (CDLHT) has reported gross revenue of $38.1 million, down 38.7% y-o-y, and net property income (NPI) of 38.7% y-o-y to $15.2 million.

The lower figures were primarily due to the impact of the Covid-19 pandemic, which has caused the absence of demand for tourism, and the enforcement of most international travel restrictions, which continue to impact CDLHT’s overall performance negatively.

With the exception of its five Singapore hotels and hotel in New Zealand, most of CDLHT’s properties were operating at low occupancies or had just reopened in 3QFY2020.

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