Cdl Hospitality Trusts · SGX:J85
Cdl Hospitality Trusts — Shareholder Meeting (April 2025)
43 slides from Cdl Hospitality Trusts's shareholder meeting presentation, Apr 24, 2025
Slide 1: Annual General Meetings 2025
Annual General Meetings 2025 24 April 2025 SINGAPORE | PERTH | AUCKLAND | MALDIVES | TOKYO | CAMBRIDGE | MANCHESTER | EXETER | LIVERPOOL | MUNICH | FLORENCE
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$3.5 billion as at 31 March 2025. CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment tru
Slide 4: Table of Contents
Table of Contents ▪ Overview 5 ▪ Key Highlights & Performance Snapshot 8 ▪ Portfolio Update 14 ▪ Acquisition Growth 26 ▪ Asset Management Plans 30 ▪ Capital Management 37 ▪ Concluding Remarks 41 4
Slide 5: Overview
Overview
Slide 6: High Quality Portfolio with Assets Across the World
High Quality Portfolio with Assets Across the World LIVERPOOL • 1 PBSA MANCHESTER Operational 22 • 2 Hotels Properties • 1 Residential BTR TOKYO • 2 Hotels CAMBRIDGE • 1 Hotel EXETER 4,924 352 404 • 1 Hotel Keys Hotel Rooms BTR Units PBSA Beds MUNICH SINGAPORE FLORENCE • 6 Hotels • 1 Hotel • 1 Hotel
Slide 7: Geographically Diversified Portfolio
Geographically Diversified Portfolio Breakdown of Portfolio Value as at 31 Dec 2024 Singapore 62.4% Oceania 7.4% Orchard Hotel 15.5% New Zealand – Grand Millennium Grand Copthorne Waterfront Hotel 12.9% Other Asia 5.0% Auckland W Hotel 11.6% Oceania Singapore Australia 2.3% M Hotel 8.2% Mercure Pert
Slide 8: Key Highlights & Performance Snapshot
Key Highlights & Performance Snapshot
Slide 9: Key Highlights
Key Highlights Positioning for Long-Term Growth and Income Resilience Operational Start of Residential Maiden Investment into Purpose-Built Student Build-to-Rent (BTR) - The Castings Accommodation (PBSA) sector ▪ First residents welcomed in July 2024 ▪ Acquisition of Benson Yard for £37.3 million in
Slide 10: Key Highlights (Con't)
Key Highlights (Con’t) Inorganic Growth and Proactive Asset Significant Strides Toward Excellence in Optimisation Corporate Governance ▪ Joint winner of the prestigious Shareholder Communications Excellence Award (REITs & Business Trusts Category) at the Securities Investors Association (Singapore)
Slide 11: FY 2024 Hotels RevPAR Performance
FY 2024 Hotels RevPAR Performance RevPAR FY 2024 FY 2023 Better / (Worse) Singapore (S$) 194 198 (2.1)% New Zealand (NZ$) 129 137 (5.9)% Australia (A$) 123 112 9.4% Japan (¥) 10,681 8,838 20.8% Maldives (US$) 327 313 4.3% United Kingdom (£) (1) 138 133 3.9% Germany (€) 110 98 12.1% Italy (€) 234 223
Slide 12: FY 2024 Financial Performance and Outlook
FY 2024 Financial Performance and Outlook FY 2024 FY 2023 YoY Change Net Property Income (S$ ’000) 135,223 138,304 (2.2)% Total Distribution (After Retention) (S$ ’000) 66,850 70,970 (5.8)% DPS (After Retention) (S$ cents) 5.32 5.70 (6.7)% ▪ Decline in NPI largely reflected the continued normalisati
Slide 13: Portfolio Value as at 31 Dec 2024
Portfolio Value as at 31 Dec 2024 ▪ Portfolio value increased by 4.6% or S$146.3 million YoY to S$3.3 billion ▪ On a same-store basis (excluding Hotel Indigo Exeter and Benson Yard which were acquired in 4Q 2024), the portfolio value would have increased by 1.3% or S$42.2 million YoY Portfolio Value
Slide 14: Portfolio Update
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Slide 15: Update on Singapore Portfolio
Update on Singapore Portfolio Singapore Hotels FY 2024 FY 2023 Better / (Worse) Occupancy 78.7% 76.2% 2.5pp ADR (S$) 246 260 (5.3)% RevPAR (S$) 194 198 (2.1)% Singapore Portfolio FY 2024 FY 2023 Better / (Worse) NPI (S$ ’000) 85,112 85,927 (0.9)% Market Update & Outlook Grand Deluxe King Room, Grand
Slide 16: Singapore's Tourism Statistics
Singapore’s Tourism Statistics ▪ In 2024, visitor arrivals were 16.5 million, in line with STB’s forecast of 15.0 to 16.5 million ▪ For 2025, STB forecasts that international visitor arrivals will be between 17 million and 18.5 million International Visitor Arrivals to Singapore (1) Million 17.0 to
Slide 17: Singapore's Tourism Statistics (con't)
Singapore’s Tourism Statistics (con’t) International Visitor Arrivals to Singapore for FY 2024 (1) FY 2024 FY 2019 % of 2019 FY 2024 FY 2023 Variance Visitor Arrivals (million) 16.5 19.1 86.5% 16.5 13.6 +21.5% Visitor Days (million) 58.8 64.1 91.7% 58.8 51.6 +14.0% International Visitor Arrivals to
Slide 18: 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 19: 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) ▪ Marina Bay Cruise Centre: S$40 million fac
Slide 20: Update on Oceania Portfolio
Update on Oceania Portfolio New Zealand Hotel FY 2024 FY 2023 Better / (Worse) RevPAR (NZ$) 129 137 (5.9)% NPI (S$ ’000) 5,220 7,251 (28.0)% Perth Hotels FY 2024 FY 2023 Better / (Worse) RevPAR (A$) 123 112 9.4% NPI (S$ ’000) 4,319 4,168 3.6% Market Update & Outlook Premium King Room (Post Renovatio
Slide 21: Update on Japan Portfolio
Update on Japan Portfolio Japan Hotels FY 2024 FY 2023 Better / (Worse) RevPAR (¥) 10,681 8,838 20.8% NPI (S$ ’000) 4,486 3,862 16.2% Market Update & Outlook ▪ Significant growth supported by substantial inbound travel demand ▪ Visitor arrivals reached 36.9 million in 2024, an increase of 47.1% YoY
Slide 22: Update on Maldives Portfolio
Update on Maldives Portfolio Maldives Resorts FY 2024 FY 2023 Better / (Worse) RevPAR (US$) 327 313 4.3% NPI (S$ ’000) 5,892 7,140 (17.5)% Market Update & Outlook ▪ Angsana Velavaru posted a 9.4% YoY RevPAR growth, driven largely by higher occupancy supported by increased tourist arrivals Raffles Ro
Slide 23: Update on United Kingdom Portfolio: Hotels
Update on United Kingdom Portfolio: Hotels UK Hotels FY 2024 FY 2023 Better / (Worse) RevPAR (£) (1) 138 133 3.9% NPI (S$ ’000) 14,940 15,153 (1.4)% Market Update & Outlook ▪ Stronger corporate demand at Hilton Cambridge City Centre helped offset the Presidential Suite, The Lowry Hotel shortfall at
Slide 24: Update on United Kingdom Portfolio: Living Assets
Update on United Kingdom Portfolio: Living Assets UK Living Assets FY 2024 FY 2023 Better / (Worse) BTR NPI (S$ ’000) 257 - N.M. PBSA NPI (S$ ’000) 144 - N.M. Market Update & Outlook ▪ The Castings (Residential BTR asset): Opened on 16 July 2024 ▪ Achieved physical occupancy of 67.9% as at 31 March
Slide 25: Update on EU Portfolio
Update on EU Portfolio Germany Hotel FY 2024 FY 2023 Better / (Worse) RevPAR (€) 110 98 12.1% NPI (S$ ’000) 9,706 9,459 2.6% Italy Hotel FY 2024 FY 2023 Better / (Worse) RevPAR (€) 234 223 5.1% NPI (S$ ’000) 5,147 5,344 (3.7)% Junior Suite, Hotel Cerretani Firenze Market Update & Outlook ▪ Pullman H
Slide 26: Acquisition Growth
Acquisition Growth
Slide 27: Moxy Singapore Clarke Quay
Moxy Singapore Clarke Quay (Under Development - Forward Purchase of Turnkey Hotel) Upcoming Hotel Pipeline in Singapore Moxy Singapore Clarke Quay ▪ Forward purchase of a turnkey hotel, Moxy Singapore Clarke Quay (under a development and sale agreement), will add 475 keys to the portfolio when compl
Slide 28: 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 ▪ Favourable UK Demographic Dynamics for Higher Education: Growing 18- year-old population and risin
Slide 29: 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 ▪ Freehold property, consisting Hotel Indigo Exeter and two retail units, for £19.4 million (~S$33.2 million) (1), (2) ▪ Lifestyle Hotel: 104-key, upsca
Slide 30: Asset Management Plans
| Ne eee Asset Management
Slide 31: Asset Enhancement Plans – W Singapore – Sentosa Cove
Asset Enhancement Plans – W Singapore – Sentosa Cove Singapore W Singapore – Sentosa Cove: ▪ Phased renovation of all rooms has commenced, with estimated completion around end 2025 ▪ Complement existing enhancements made to the hotel lobby, ballroom and restaurant in 2023 Guestroom (before) Mockup R
Slide 32: Asset Enhancement Plans – Ibis Perth
Asset Enhancement Plans – Ibis Perth Perth, Australia Ibis Perth: ▪ Successful upgrade of all 192 rooms, after nearly a year of extensive renovations Room (before) Premium King Room (after) 32
Slide 33: Asset Enhancement Plans – Ibis Perth (con't)
Asset Enhancement Plans – Ibis Perth (con’t) Perth, Australia Ibis Perth: ▪ Completed the transformation of the hotel’s lobby, public areas, bar and restaurant in Feb 2025 to showcase a more contemporary and refreshed look ▪ Introduced a gym as part of upgraded guest amenities Chelsea Social (Post R
Slide 34: Asset Enhancement Plans – Grand Millennium Auckland
Asset Enhancement Plans – Grand Millennium Auckland Auckland, New Zealand Grand Millennium Auckland: ▪ First phase of rooms renovation completed, while the atrium bar renovation is substantially finished ▪ Renovation of the remainder of the public areas and the second phase of rooms refurbishment ar
Slide 35: Commitment to ESG
Commitment to ESG Name of Award Our Portfolio Name of Award Our Portfolio BCA Green Mark Award Platinum EPC Rating “B” Rating • Copthorne King’s Hotel • The Lowry Hotel • Grand Copthorne Waterfront Hotel • Hilton Cambridge City Centre Gold Plus • voco Manchester - City Centre • Orchard Hotel • Hotel
Slide 36: Commitment to ESG (Con't)
Commitment to ESG (Con’t) Green Initiatives Targets M&C Hotels ▪ Net Zero Target: By 2050 ▪ Singapore Hotel Sustainability Award 2024: GCW, MHS and OHS ▪ On track to achieve 5-7% reduction in energy by FY 2026: FY 2024 electricity intensity is 11.1% lower than FY 2019 baseline Maldives Resorts ▪ On
Slide 37: Capital Management
Capital Management 37
Slide 38: 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 as at 31 December 2024 ▪ Refinancing for loans maturing in 1H 2025 (~S$142.0 million) has been comp
Slide 39: Healthy Financial Metrics
Healthy Financial Metrics As at 31 December 2024 40.7% Gearing (1) ~S$526.0M (S$610M Debt Headroom to 50% Cash & Available Credit Facilities (3) Gearing) Sound Financial Metrics and +/- 1.07 cents 4.0% Impact to DPS for Every 1% Change Weighted Average Cost of Debt Healthy Liquidity in All-in Intere
Slide 40: Debt Profile as at 31 Dec 2024
Debt Profile as at 31 Dec 2024 ▪ Four interest rate swaps were executed in FY 2024 to hedge some of the SGD and JPY borrowings ▪ Capitalising on the recent decline in borrowing costs, CDLHT entered into five interest rate swaps totaling S$148.0 million since 31 Dec 2024 to progressively hedge its SG
Slide 41: Concluding Remarks
Se Concluding Remarks
Slide 42: Concluding Remarks
Concluding Remarks 1 Contributors to Earnings in 2025 2 Value-Creation Focused ▪ Portfolio value up by 4.6% YoY to S$3.3 billion. On a Acquisition of Hotel same store basis, portfolio value up by 1.3% YoY Indigo Exeter ▪ Continue to invest in and optimise portfolio via asset ▪ Operational value-add
Slide 43: Thank You
Thank You W cot WOSPNT PANTY
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