SINGAPORE (May 12): The prolonged Covid-19 pandemic has affected businesses and communities globally, according to property giant City Developments in its operational update released on Tuesday.

The pandemic has impacted especially CDL’s global hospitality portfolio, following lockdowns imposed by governments around the world.

Global room occupancies in its portfolio of hotels fell 17.9% to 52.1%, and revenue per available room (RevPAR) fell 27% y-o-y to $90.6. As at March 31, around a third of its 152 hotels were temporarily closed.

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