Cdl Hospitality Trusts · SGX:J85
Cdl Hospitality Trusts — FY2024 Earnings Presentation
84 slides from Cdl Hospitality Trusts's earnings presentation, Jan 27, 2025
Slide 1: 2H / FY 2024 Results Presentation
2H / FY 2024 Results Presentation 27 January 2025
Slide 2: Important Notice
Important Notice This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assump
Slide 3: About CDL Hospitality Trusts
About CDL Hospitality Trusts CDL Hospitality Trusts (“CDLHT”) is one of Asia’s leading hospitality trusts with assets under management of about S$3.5 billion as at 31 December 2024. CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment
Slide 4: References Used in this Presentation
References Used in this Presentation 1Q, 2Q, 3Q, 4Q refers to the period 1 January to 31 March, 1 April to 30 June, 1 July to 30 September and 1 October to 31 December respectively 1H and 2H refers to the period 1 January to 30 June and 1 July to 31 December respectively ADR refers to average daily
Slide 5: Table of Contents
Table of Contents Key Highlights 6 Portfolio Performance Update 12 Key Markets Update 18 Capital Management 32 Acquisitions & Asset Enhancement Plans 37 Sustainability Highlights 50 Concluding Remarks 53 Annexe 55 − Overview of CDL Hospitality Trusts 55 − Property Information 60 − Lo
Slide 6: Key Highlights
CDL HOSPITALITY TRUSTS Key Highlights
Slide 7: High Quality Assets and Diversified Portfolio
High Quality Assets and Diversified Portfolio MANCHESTER LIVERPOOL • 2 Hotels • 1 PBSA • 1 Residential BTR CAMBRIDGE Operational 22 TOKYO Properties • 1 Hotel • 2 Hotels EXETER MUNICH • 1 Hotel • 1 Hotel FLORENCE 4,924 352 404 • 1 Hotel Keys Hotel Rooms BTR Units PBSA Beds SINGAPORE • 6 Hotels • 1 R
Slide 8: Key Highlights of FY 2024
Key Highlights of FY 2024 Positioning for Long-Term Growth and Income Resilience Maiden Investment into PBSA sector Operational Start of The Castings (BTR) Acquisition of Benson Yard, a brand new PBSA First residents welcomed in July 2024 in an excellent location within Liverpool Physical occu
Slide 9: Key Highlights of FY 2024 (Con't)
Key Highlights of FY 2024 (Con’t) Inorganic Growth and Proactive Asset Significant Strides Toward Excellence in Optimisation Corporate Governance Joint winner of the prestigious Shareholder Communications Excellence Award (REITs & Business Trusts Category) at the Securities Investors Association
Slide 10: FY 2024 Performance and Outlook
FY 2024 Performance and Outlook Better / Better / 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) Net Property Income 68,690 75,450 (9.0)% 135,223 138,304 (2.2)% Total Distribution 35,425 39,768 (10.9)% 66,850 70,970 (5.8)% (after Retention) Total distribution per Stapled Security 2.81 3.19 (11.9)%
Slide 11: Details of Distribution
Details of Distribution Distribution for the period 1 Jul 2024 to 31 Dec 2024 (after retention and including capital distribution) is 2.81 Singapore cents per Stapled Security comprising: 2.43 Singapore cents of taxable income + 0.38 Singapore cents of capital distribution February 2025 Mon Tue
Slide 12: Portfolio Performance Update
Portfolio Performance Update 12
Slide 13: Hotels RevPAR Performance (Local Currency)
Hotels RevPAR Performance (Local Currency) Better / Better / RevPAR 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) Singapore (S$) 195 217 (10.1)% 194 198 (2.1)% New Zealand (NZ$) 121 135 (10.7)% 129 137 (5.9)% Australia (A$) 127 120 5.6% 123 112 9.4% Japan (¥) 10,949 9,369 16.9% 10,681 8,838 20.8%
Slide 14: NPI Performance by Geography
NPI Performance by Geography 2H 2024 2H 2023 Change Better / FY 2024 FY 2023 Change Better / S$ ’000 S$ ’000 S$ ’000 (Worse) S$ ’000 S$ ’000 S$ ’000 (Worse) Singapore 43,811 47,246 (3,435) (7.3)% 85,112 85,927 (815) (0.9)% New Zealand 2,077 3,599 (1,522) (42.3)% 5,220 7,251 (2,031) (28.0)% Australia
Slide 15: NPI Composition by Geography
NPI Composition by Geography Breakdown of Portfolio NPI by Country for FY 2024 Singapore 62.9% Oceania 7.1% Europe 22.3% Other Asia 7.7% United Kingdom 11.3% Singapore Germany 7.2% (1) 62.9% Italy 3.8% (1) FY 2024 NPI Other Asia 7.7% S$135.2 million Europe Maldives 4.4% 22.3% Japan 3.3% Oceania 7.1%
Slide 16: Portfolio Valuation as at 31 Dec 2024
Portfolio Valuation as at 31 Dec 2024 Portfolio valuation increased by 4.5% or S$138.2 million YoY On a same store basis, excluding Hotel Indigo Exeter and Benson Yard (1), the portfolio valuation increased by 1.2% or S$37.8 million YoY, mainly driven by higher valuation of the UK, Japan and Aus
Slide 17: Geographically Diversified Portfolio
Geographically Diversified Portfolio Breakdown of Portfolio Valuation as at 31 Dec 2024 Singapore 63.5% Europe 21.9% Orchard Hotel 16.2% United Kingdom 15.1% Grand Copthorne Waterfront Hotel 13.4% Other Asia United Kingdom (Hotels) 8.1% W Hotel 10.4% Singapore Oceania Hilton Cambridge City Centre 3.
Slide 18: Key Markets Update
CDL HOSPITALITY TRUSTS Key Markets Update 18
Slide 19: CDLHT Singapore Properties Performance
CDLHT Singapore Properties Performance Better / Better / Singapore Hotels 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) Occupancy 79.1% 83.1% (4.0)pp 78.7% 76.2% 2.5pp ADR (S$) 246 261 (5.5)% 246 260 (5.3)% RevPAR (S$) 195 217 (10.1)% 194 198 (2.1)% Better / Better / Singapore Portfolio 2H 2024 2H
Slide 20: Singapore's Tourism Statistics
Singapore’s Tourism Statistics Annual International Visitor Arrivals to Singapore (1) Million 20.0 18.5 19.1 15.0 to 17.4 17.4 16.5 15.6 16.4 14.5 15.1 15.2 15.1 15.0 13.2 13.6 11.6 12.4 10.0 6.3 5.0 2.7 0.3 0.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Full Year Vis
Slide 21: Geographical Mix of Top Markets (Singapore)
Geographical Mix of Top Markets (Singapore) Top 10 Inbound Markets YTD Nov 2024 – 15.1 Million Visitor Arrivals Recovery of inbound visitors from China, Singapore’s largest source market of foreign visitors China Others 19.1% pre-pandemic, is at 86.1% of YTD Nov 2019 arrivals 25.4% Mutual 30-day
Slide 22: Singapore's Tourism Growth Drivers
Singapore’s Tourism Growth Drivers Terminal 5 (New): Construction to commence 1H 2025, increased connectivity to more than 200 cities, additional 50 million passengers per year (from 90 million currently); Expected to be operational in the mid-2030s (1) Disney Cruise Line: First ship to home-por
Slide 23: Growth in Singapore Hotel Room Supply
Growth in Singapore Hotel Room Supply An estimated 4.6% net supply was added to Singapore’s room inventory in the 18-month period from 1 Jul 2023 to 31 Dec 2024 which has increased competition in the hotel accommodation space Estimated 1,245 rooms opening in 2025, representing approximately 1.7%
Slide 24: Potential Supply of New Singapore Hotel Rooms Until 2027
Potential Supply of New Singapore Hotel Rooms Until 2027 No. of Horwath Expected No. of Horwath Expected Name of Hotel Location Name of Hotel Location Rms Rating Opening Rms Rating Opening Hotel D'ART Singapore Mama Shelter Singapore 115 Upscale/Luxury City Centre 1Q 2025 502 Mid-Tier City Centre 1Q
Slide 25: CDLHT New Zealand Hotel Performance
CDLHT New Zealand Hotel Performance Better / Better / New Zealand Hotel 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (NZ$) 121 135 (10.7)% 129 137 (5.9)% NPI (S$ ’000) 2,077 3,599 (42.3)% 5,220 7,251 (28.0)% 2H 2024 RevPAR decreased YoY due to: Absence of nine FIFA Women’s World Cup ga
Slide 26: CDLHT Australia Hotels Performance
CDLHT Australia Hotels Performance Better / Better / Australia Hotels 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (A$) 127 120 5.6% 123 112 9.4% NPI (S$ ’000) 2,051 2,352 (12.8)% 4,319 4,168 3.6% RevPAR improved 5.6% for 2H 2024, largely driven by ADR growth from both hotels A healthi
Slide 27: CDLHT Japan Hotels Performance
CDLHT Japan Hotels Performance Better / Better / Japan Hotels 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (¥) 10,949 9,369 16.9% 10,681 8,838 20.8% NPI (S$ ’000) 2,264 2,072 9.3% 4,486 3,862 16.2% Japan received 19.1 million visitors in 2H 2024, up 33.0% YoY; 36.9 million visitors for F
Slide 28: CDLHT Maldives Resorts Performance
CDLHT Maldives Resorts Performance Better / Better / Maldives Resorts 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (US$) 269 268 0.1% 327 313 4.3% NPI (S$ ’000) 1,024 2,484 (58.8)% 5,892 7,140 (17.5)% Flat RevPAR growth for 2H 2024 – increase from Angsana Velavaru largely offset by decre
Slide 29: CDLHT UK Hotels Performance
CDLHT UK Hotels Performance Better / Better / UK Hotels 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (£) (1) 148 144 3.2% 138 133 3.9% NPI (S$ ’000) 8,733 8,944 (2.4)% 14,940 15,153 (1.4)% RevPAR collectively increased 3.2% YoY for 2H 2024, driven by continued recovery in corporate trave
Slide 30: CDLHT UK Living Assets Performance
CDLHT UK Living Assets Performance Better / Better / UK Living Assets 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) BTR NPI (S$ ’000) 257 - N.M. 257 - N.M. PBSA NPI (S$ ’000) 144 - N.M. 144 - N.M. The Castings (UK BTR): Physical occupancy of 59.1% as at 31 Dec 2024 Strong summer leasing season
Slide 31: CDLHT Germany and Italy Hotels Performance
CDLHT Germany and Italy Hotels Performance Better / Better / Germany Hotel 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (€) 125 109 14.6% 110 98 12.1% NPI (S$ ’000) 5,747 5,878 (2.2)% 9,706 9,459 2.6% Better / Better / Italy Hotel 2H 2024 2H 2023 FY 2024 FY 2023 (Worse) (Worse) RevPAR (€)
Slide 32: Capital Management
CDL HOSPITALITY TRUSTS Capital Management 32
Slide 33: Healthy Financial Metrics
Healthy Financial Metrics As at 31 December 2024 40.7% ~S$526.0M Gearing (1) Cash & Available Credit Facilities (3) (S$610M Debt Headroom to 50% Gearing) Sound Financial 4.0% Metrics and +/- 1.07 cents Impact to DPS for Every 1% Change in Weighted Average Cost of Debt Healthy Liquidity All-in Intere
Slide 34: Diversified Sources of Debt Funding
Diversified Sources of Debt Funding Debt Facility Details as at 31 December 2024 (1) Issued / Utilised Unissued / Unutilised Multi-currency MTN Programme / Facilities Tenure (years) Amount Amount S$1 billion MTN - - S$1.0B S$450 million RCF (2) S$297.1M Up to 3 years S$152.9M S$400 million Bridge Fa
Slide 35: Debt Maturity Profile as at 31 Dec 2024
Debt Maturity Profile as at 31 Dec 2024 In FY 2024, 82% or S$310.8 million of the maturing loans were re-financed as 5-year sustainability-linked loans, increasing such facilities to S$666.0 million Four interest rate swaps were executed during the year to hedge SGD and JPY borrowings Refinanc
Slide 36: Debt Profile as at 31 Dec 2024
Debt Profile as at 31 Dec 2024 Debt Currency Profile (1) Interest Rate Profile (1) Fixed Rate Floating Rate Borrowings Borrowings JPY USD 4.1% 4.4% SGD 13.4% 86.6% (2) USD 0.0% 100.0% EUR 20.4% SGD 44.5% GBP 40.2% 59.8% JPY 100.0% 0.0% EUR (2) 55.6% 44.4% Blended Total 32.1% 67.9% GBP 26.6% (1) Base
Slide 37: Acquisitions & Asset Enhancement Plans
Acquisitions & Asset Enhancement Plans 37
Slide 38: Acquisition of Benson Yard, PBSA in Liverpool, UK
Acquisition of Benson Yard, PBSA in Liverpool, UK Maiden Acquisition of a Best-in-Class PBSA in an Excellent Location in a Russell Group Student Market Stable Long-term Growth and Income Resilience: Longer duration rental income (44 or 51 weeks) and different demand drivers to hospitality assets
Slide 39: Acquisition of Benson Yard, PBSA in Liverpool, UK (Con't)
Acquisition of Benson Yard, PBSA in Liverpool, UK (Con’t) Transaction Details (1) Details of Operational PBSA (Benson Yard) Valuation £39.4 million (2) (S$67.6 million) Opening February 2023 Date Vacant Land - £1 Operational PBSA Purchase 404 beds £37.3 million (S$63.9 million) Considera
Slide 40: Benson Yard Studio Rooms
Acquisition of Benson Yard, PBSA in Liverpool, UK (Con’t) Studio Rooms Classic Studio Deluxe Studio Classic Studio Deluxe Studio 40
Slide 41: Benson Yard Ensuite Rooms
Acquisition of Benson Yard, PBSA in Liverpool, UK (Con’t) Ensuite Rooms Classic Ensuite Premium Ensuite Deluxe Ensuite Shared Kitchen (For Ensuite Clusters) 41
Slide 42: Benson Yard Amenity Spaces
Acquisition of Benson Yard, PBSA in Liverpool, UK (Con’t) Amenity Spaces - Market Leading Amenity Provision 58-sqm Multi-purpose Cinema and Studio Space Study Area 87-sqm Gym Games Room Outdoor Courtyard 68-sqm 10F Sky Lounge 42
Slide 43: Acquisition of Hotel Indigo Exeter, UK
Acquisition of Hotel Indigo Exeter, UK Attractive Acquisition of an Upscale Lifestyle Hotel in Heart of Exeter City Centre with Brand New Interiors Expanded presence in the UK with the acquisition of a freehold property, consisting Hotel Indigo Exeter and two retail units, for £19.4 million (~S$33
Slide 44: Acquisition of Hotel Indigo Exeter, UK (Con't)
Acquisition of Hotel Indigo Exeter, UK (Con’t) Transaction Details (1) Hotel Component - £15.5 million (S$26.4 million) Valuation (2) Retail Component - £4.0 million (S$6.8 million) Property Valuation - £19.5 million (S$33.3 million) Purchase £19.4 million (S$33.2 million) Consideration Total Acqu
Slide 45: Exeter, Regional Capital of Devon and Gateway to South West
Acquisition of Hotel Indigo Exeter, UK (Con’t) Exeter, Regional Capital of Devon and Gateway to the Wider South West Region of UK A number of regional and national businesses are based in Exeter, providing a good corporate base The city is located along the M5, a major motorway linking the Midla
Slide 46: Hotel Indigo Exeter Rooms
Acquisition of Hotel Indigo Exeter, UK (Con’t) Acquisition of Hotel Indigo Exeter, UK Standard Double King Suite Suite Standard Bathroom King Suite 46
Slide 47: Asset Enhancement Plans – W Singapore – Sentosa Cove
Asset Enhancement Plans – W Singapore – Sentosa Cove Rooms Rejuvenation to Reinforce Hotel’s Leading Luxury Lifestyle Positioning Phased renovation of all rooms will commence in Feb 2025, with estimated completion end Nov 2025. Disruption during peak demand periods will be minimised through paused
Slide 48: Asset Enhancement Plans – Ibis Perth
Asset Enhancement Plans – Ibis Perth A Complete Hotel Refresh Renovation of 192 rooms (May 2024 to end Jan 2025) nearing completion, with new rooms available to market Renovation of public areas, restaurant and bar ongoing, to complete by end Feb 2025 Room (before) Room (after) 48
Slide 49: Asset Enhancement Plans – Grand Millennium Auckland
Asset Enhancement Plans – Grand Millennium Auckland Progressive Transformation in Phases First phase of rooms renovation completed. Second phase will commence from Apr to Nov 2025 Atrium bar and public area works, including meeting rooms, are nearing completion Family Room (before) Family Room (
Slide 50: Sustainability Highlights
Sustainability Highlights 50
Slide 51: Commitment to ESG
Commitment to ESG Name of Award Our Portfolio Name of Award Our Portfolio BCA Green Mark Award Platinum NABERS National Australian Built Environment • Copthorne King’s Hotel Rating System (NABERS) • Grand Copthorne Waterfront Hotel • Ibis Perth Gold Plus • Orchard Hotel • M Hotel Gold • Studio M Hot
Slide 52: Commitment to ESG (Con't)
Commitment to ESG (Con’t) Green Initiatives Targets M&C Hotels Net Zero Target: By 2050 All M&C Hotels are BCA Green Mark certified On track to achieve 5-7% reduction in energy by FY 2026: FY Singapore Hotel Sustainability Award 2024: GCW, MHS and OHS 2024 electricity intensity is 11.2% lowe
Slide 53: Concluding Remarks
CDL HOSPITALITY TRUSTS Concluding Remarks 53
Slide 54: Concluding Remarks
Concluding Remarks 1 Contributors of Earnings Growth in 2025 2 Value-Creation Focused Portfolio valuation up by 4.5% YoY to S$3.2 billion. On a Acquisition of Hotel same store basis, portfolio valuation up by 1.2% YoY Indigo Exeter Continue to invest in and optimise portfolio via asset Operation
Slide 55: Overview of CDL Hospitality Trusts
Overview of CDL Hospitality Trusts 55
Slide 56: Background on CDLHT
Background on CDLHT Background Price Performance IPO on 19 Jul 2006 Announcement of W Singapore - Sentosa Cove Acquisition and Listed on SGX $2.00 Redevelopment of Novotel Singapore Mainboard Clarke Quay Announcement $1.80 COVID-19 of Hotel Pandemic Sponsored by Brooklyn Acquisition Millennium
Slide 57: CDLHT Structure
CDLHT Structure Sponsor Investors ≈28.49% Holdings of Stapled Securities ≈71.51% as at 31 Dec 2024 as at 31 Dec 2024 H-REIT Distributions HBT Acts on behalf of DBS Trustee the holders of H- REIT Units Stapling Deed Management Management services M&C REIT Management Limited services H-REIT Rent HBT A
Slide 58: Blue Chip Sponsor and Parentage
Blue Chip Sponsor and Parentage Millennium & Copthorne Hotels Limited City Developments Limited Leading global real estate company with a network Internationally recognised hospitality and real estate spanning 163 locations in 29 countries and regions group which owns as well as operates and/or
Slide 59: Management Strategy
Management Strategy Acquisition Growth Asset Management 1 Strategy 2 Strategy Pursue quality assets with growth Work closely with master lessees, potential hotel/property managers and/or operators to implement active revenue Pursue asset class diversification and cost management within the lod
Slide 60: Property Information
CDL HOSPITALITY TRUSTS Property Information 60
Slide 61: CDLHT Asset Portfolio – Singapore
CDLHT Asset Portfolio – Singapore Grand Hotel Copthorne Copthorne W Singapore – Claymore Singapore Orchard Hotel M Hotel Studio M Hotel Properties Waterfront King’s Hotel Sentosa Cove Connect Portfolio Hotel Located on One of the Luxury lifestyle Orchard Road, Located in the Located within largest S
Slide 62: CDLHT Asset Portfolio – Overseas
CDLHT Asset Portfolio – Overseas Hotel Mercure Perth Ibis Perth Grand Millennium Auckland Oceania Portfolio Properties (Australia) (Australia) (New Zealand) Situated in Perth’s CBD and within Located steps away from the Murray One of New Zealand’s largest deluxe Description walking distance to the S
Slide 63: CDLHT Asset Portfolio – Overseas
CDLHT Asset Portfolio – Overseas Raffles Maldives Hotel MyStays Hotel MyStays Hotel Angsana Velavaru Meradhoo Maldives Portfolio Asakusabashi Kamata Japan Portfolio Properties (Maldives) (Maldives) (Tokyo, Japan) (Tokyo, Japan) Located in central All-suite luxury resort, Tokyo, with easy access Loca
Slide 64: CDLHT Asset Portfolio – Overseas
CDLHT Asset Portfolio – Overseas Hilton Cambridge City voco Manchester – City Hotel The Lowry Hotel Hotel Indigo Exeter United Kingdom Hotel Centre Centre Properties (United Kingdom) (United Kingdom) Portfolio (United Kingdom) (United Kingdom) 4-star upscale lifestyle hotel Upper upscale hotel and I
Slide 65: CDLHT Asset Portfolio – Overseas
CDLHT Asset Portfolio – Overseas The Castings Benson Yard Living Assets United Kingdom Living Assets Portfolio (United Kingdom) (United Kingdom) Residential Build-to-Rent property located in Purpose-Built Student Accommodation (PBSA) Piccadilly East, a developing neighbourhood Description located in
Slide 66: CDLHT Asset Portfolio – Overseas
CDLHT Asset Portfolio – Overseas Hotel Pullman Hotel Munich Hotel Cerretani Firenze EU CDLHT Portfolio Properties (Germany) (Italy) Portfolio 4-star hotel located in close proximity to 4-star hotel boasting an exceptional location Description - - major business districts in the heart of Florence’s h
Slide 67: Summary of Key Leases
Summary of Key Leases Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King’s Hotel: Rent: 20% of Hotel's revenue + 20% of Hotel’s gross operating profit, with an annual fixed rent floor of S$26.4 million Term of 20 years from Listing (19 Jul 2006) with 20-year option Claymore
Slide 68: Summary of Key Leases
Summary of Key Leases Grand Millennium Auckland: New Zealand First 3-year term expired on 6 Sep 2019; lease provides for two 3-year renewal terms, subject to mutual agreement Grand Millennium Lease renewed for third 3-year term from 7 Sep 2022, expiring 6 Sep 2025, on the same terms, except annu
Slide 69: Summary of Key Leases
Summary of Key Leases voco Manchester – City Centre: United Kingdom Full repairing and insuring occupational lease, subject to upward-only annual rent revision broadly based on inflation voco Manchester – Fixed rent of £2.54 million per annum for the period of 7 May 2023 to 6 May 2024 Fixed re
Slide 70: Summary of Temporary Arrangements
Summary of Temporary Arrangements Due to the COVID-19 pandemic, a temporary rent abatement agreement for Pullman Hotel Munich was signed in Apr 2021 (“Temporary Arrangement”). Pursuant to the Temporary Arrangement, (a) the lessor has released the lessee from its obligation to pay the base rent for t
Slide 71: Summary of Key Management Agreements
Summary of Key Management Agreements W Singapore – Sentosa Cove: Singapore HBT’s subsidiary is the lessee for the hotel's operations Operated by Starwood Asia Pacific Hotels & Resorts Pte Ltd, a wholly-owned subsidiary of Marriott International, Inc. W Singapore – Term of ~20.3 years from 16 S
Slide 72: Summary of Key Management Agreements
Summary of Key Management Agreements Hotel MyStays Asakusabashi and Hotel MyStays Kamata: HBT’s subsidiary is the lessee for the hotels’ operations Japan Portfolio MyStays Hotel Management Co., Ltd. is the hotel manager, appointed by HBT The hotel management agreements renew on a 3-year auto-r
Slide 73: Summary of Key Management Agreements
Summary of Key Management Agreements Hilton Cambridge City Centre: United Kingdom HBT is the asset owner and responsible for the hotel’s operations Hilton Cambridge Hilton UK Manage Limited (an affiliate of Hilton Worldwide Inc.) is the hotel manager, appointed by HBT Term of 12.25 years from
Slide 74: Summary of Key Management Agreements (Living Assets)
Summary of Key Management Agreements (Living Assets) The Castings (Build-to-Rent Property): HBT is the asset owner United Kingdom Native Residential Limited is the property manager, appointed by HBT The Castings Term of 5 years from 4 June 2024, expiring 3 June 2029 Typical management fees a
Slide 75: Location of Properties
CDL HOSPITALITY TRUSTS Location of Properties 75
Slide 76: Hotels in Strategic Locations
Hotels in Strategic Locations Singapore Hotels Orchard Hotel & Claymore Connect H Studio M Hotel Grand Copthorne Waterfront Hotel H H H SINGAPORE RIVER MARINA BAY SANDS Copthorne CENTRAL BUSINESS King’s Hotel DISTRICT H M Hotel SENTOSA ISLAND H W Singapore - Sentosa Cove 76
Slide 77: Hotels in Strategic Locations
Hotels in Strategic Locations New Zealand Hotel Australia Hotels Auckland City Centre Mercure Grand Millennium Ibis Perth Perth Auckland Perth CBD H H H CBD AREA 77
Slide 78: Hotels in Strategic Locations
Hotels in Strategic Locations Japan Hotels Hotel MyStays Hotel MyStays Asakusabashi Kamata Asakusabashi Kamata H H 78
Slide 79: Hotels in Strategic Locations
Hotels in Strategic Locations United Kingdom Hotels Cambridge Manchester Exeter H Manchester Art Gallery H Media City UK H Hilton Cambridge City Centre voco Manchester – Hotel Indigo Exeter The Lowry Hotel City Centre 79
Slide 80: Hotels in Strategic Locations
Hotels in Strategic Locations Germany Hotel Italy Hotel Munich Florence H H Pullman Hotel Munich Hotel Cerretani Firenze - MGallery 80
Slide 81: Resorts in Premium Destination
Resorts in Premium Destination Angsana Velavaru Malé Atoll 40-min seaplane flight 55-min domestic flight + 15-min R speedboat Raffles Maldives Meradhoo ride (1) South Nilandhe Atoll R Gan International Airport (1) Estimated duration based on non-stop flights from Velana International Airport. 81
Slide 82: Build-to-Rent Property in Up-and-Coming Neighbourhood
Build-to-Rent Property in Up-and-Coming Neighbourhood The Castings Manchester The Lowry Hotel The B voco Manchester Castings – City Centre Portugal Street East Strategic Regeneration Framework Manchester Piccadilly Station 82
Slide 83: PBSA in Heart of Liverpool City Centre
PBSA in Heart of Liverpool City Centre Benson Yard Liverpool School of Tropical Medicine No. of FT Students: 105 Benson Lime Street Station 14-min walk Major transport hub with access to Yard Manchester, Birmingham and London 8-min walk Liverpool John Moores University No. of FT Students: 23,190 7-m
Slide 84: THANK YOU
THANK YOU For investor relations matters, please contact: Tan Jo Lynn Investor Relations Telephone: (65) 6664 8890 Fax: (65) 6734 6785 Email: tanjolynn@cdlht.com 84
CDL Hospitality Trusts — FY2024 Earnings Presentation on 6ix