CDL Hospitality Trusts' (SGX:J85) total net property income or NPI declined 14% in the first quarter of the year to SG$30.0 million from SG$34.9 million a year earlier, according to a filing with the Singapore Exchange on Wednesday.
Revenue Per Available Room or RevPAR for the trust's Singapore properties declined 16% year over year to SG$173 from SG$205.
Meanwhile, occupancy at the Singapore hotels dropped to 75% from 82.1%.
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