Photo: The Edge Singapore

In its 1Q business update released on May 19, City Developments Limited (CDL) has reported a 15.7 percentage point drop y-o-y to 36.8% in global occupancy for the 1QFY2021, down from the 52.5% reported in the 1QFY2020 for its hotel operations segment.

1QFY2021 global revenue per average room (RevPAR) fell 51.7% y-o-y to $44.60 from the previous year’s $92.40.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook