CDL Hospitality Trusts plans to broaden its investment strategy to beyond hospitality assets. The trust plans to include other accommodation properties used for rental housing, co-living, student accommodation and senior housing.
“The managers believe that the revision of CDLHT’s principal investment strategy will provide CDLHT with better growth by increasing the diversification of its portfolio, enhancing income stability,” says the trust manager.
The broader strategy will also help bring about more investment opportunities, and thus “in line” with the managers’ key financial objectives to maximise the rate of return to Security Holders and to make regular distributions.
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CDLHT will announce its first half results on July 30.
As at Dec 31 2020, CDLHT has assets under management worth $2.9 billion.
CDLHT now owns 18 properties with a total of 4,631 hotel rooms, comprising six hotels and a retail mall in Singapore, two hotels in Australia, one hotel in New Zealand, two hotels in Japan, two hotels in United Kingdom, one hotel in Germany, one hotel in Italy and two resorts in Maldives.