0640 GMT - CDL Hospitality Trusts' Singapore and overseas hotels face a challenging operating environment, CGS International analysts say in a research report. Management noted the REIT's Singapore hotels continue to face supply headwinds from hotels launched, together with the Singapore dollar's strength against regional currencies and a normalization in travel demand, the analysts say. The brokerage cuts its 2025 assumption for the Singapore portfolio's revenue per available room by 5% to reflect the negative outlook. Management is also cautious about the outlook of Pullman Hotel Munich in Germany and Hotel Cerretani Firenze in Italy, as both could be affected by tariff increases. The brokerage lowers the target price on CDL Hospitality Trusts to S$0.87 from S$1.07 with an unchanged add rating. Units are 1.3% higher at S$0.785. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 05, 2025 02:40 ET (06:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.