CDL HOSPITALITY TRUSTS REPORTS GROSS REVENUE OF S$42.8 MILLION FOR 1H 2009

  • Income available for distribution per Stapled Security of 4.25 cents for 1H 2009, representing an annualised gross yield of 7.5%1
  • Occupancy showing signs of improvement in June and July due to revival in business confidence
  • Strong balance sheet with low debt to assets ratio of 19.3%

Singapore, 30 July 2009 – CDL Hospitality Trusts (“CDLHT”), a stapled group comprising CDL
Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality
Business Trust (“HBT”), a business trust, is pleased to announce its results for the second quarter (“2Q
2009”) and first six months (“1H 2009”) ended 30 June 2009.
CDLHT achieved gross revenue of S$20.2 million and an income available for distribution of S$17.4
million in 2Q 2009, representing a decline of 31.5% and 30.6% respectively from the previous
corresponding quarter (“2Q 2008”).
In 1H 2009, CDLHT registered gross revenue of S$42.8 million, a 25.6% decrease from the same period
last year (“1H 2008”). Income available for distribution for 1H 2009 was S$35.5 million, 26.8% lower than
the S$48.6 million in the same period last year. The income to be distributed per Stapled Security for 1H
2009 was 3.86 cents. Based on a market price of S$1.15 as at close of market on 29 July 2009, holders
of CDLHT’s Stapled Securities would enjoy an annualised distribution yield of 6.8% for 1H 2009.
Mr Vincent Yeo, CEO of M&C REIT Management Limited, the Manager of H-REIT, said, “This
achievement comes amidst a challenging operating environment for CDLHT in the first half of 2009. On
the back of the global economic turmoil, the tourism and hospitality sectors at large have seen a sharp
reduction in travel and tourist arrivals. The situation was further exacerbated in the second quarter by the
global outbreak of Influenza A (H1N1) and the knee-jerk reaction of the public to the viral flu, which led to
some cancellations and postponement of events.
“Despite tougher conditions in 2Q 2009, we are heartened that our hotels managed to maintain a
relatively healthy level of profitability as a result of our proactive cost containment measures.”