CDL Hospitality says 1Q DPU up 2.6%

Singapore hotel owner CDL Hospitality Trusts (CDLT.SI) said on Tuesday its first quarter distribution per unit (DPU) rose 2.6%, boosted by higher contributions from its hotels in the city-state.

CDL Hospitality had a DPU of 2.38 cents for January-March, up from 2.32 cents in the year-ago period.

CDL Hospitality, which also owns hotels in Australia and New Zealand, is managed by a unit of City Developments (CTDM.SI), Singapore’s and Southeast Asia’s second largest property firm after CapitaLand (CATL.SI).