Hotels
Entertainment
Tenant Classification:
Republic Hotels & Resorts Limited
City Hotels Pte. Ltd.
AAPC Clarke Quay Hotel Pte. Ltd.
AAPC Properties Pty Ltd.
Harbour View Hotel Pte. Ltd.
Maldives Bay Pvt Ltd
Rendezvous Hotels (NZ) Limited
Republic Iconic Hotel Pte. Ltd.
TAB SG Pte. Ltd.
Jamcute Pte. Ltd.
28,305
24,128
21,597
15,194
15,090
10,201
9,677
7,810
867
556
S$’000
20.8%
17.7%
15.8%
11.1%
11.1%
7.5%
7.1%
5.7%
0.6%
0.4%
% of Total Gross
Rental Income
TOP 10 TENANTS BY GROSS RENTAL INCOME FOR PROPERTIES WITH LEASES
(1)
For FY 2015
CDLHT has 26 tenants in total for properties that are leased out, 8 for the hotel properties and 18 for Claymore Connect.
The top 10 tenants contributed to 97.8% of the total gross rental income for properties with leases.
(1)
Does not include properties which are on management contracts, namely Jumeirah Dhevanafushi, Hotel MyStays Asakusabashi, Hotel MyStays
Kamata and Hilton Cambridge City Centre.
(2)
Expiry does not take into consideration the tenure under the extension options.
(3)
Percentages may not add up to 100% due to rounding.
(4)
Based on FY 2015 actual gross rental income.
(5)
Based on the passing rental income in the month which the lease expires and excludes gross turnover rent. The WALE by NLA for Claymore
Connect and the new leases are 2.5 years and 2.6 years respectively.
(6)
Computed based on gross rental income of new leases entered into at Claymore Connect in FY 2015 as a percentage of gross rental income of
all properties on leases for FY 2015.
LEASE EXPIRY PROFILE AND TENANT MIX BY GROSS RENTAL INCOME FOR PROPERTIES WITH LEASES
(1)
For FY 2015
96.8% of CDLHT’s gross rental income for FY 2015 was attributed to hotel properties and the remaining 3.2% was attributed
to Claymore Connect, the only retail mall owned by CDLHT. CDLHT has a strong mix of diversified hotel operators on master
leases as well as healthy lease expiry profile.
Properties
Tenure of Lease
Year of % of
Expiry
(2)
Rental Income
(3)
Singapore IPO Hotels
20 years from 19 Jul 2006 with an option to renew for another 20 years 2026 49.5%
Novotel Singapore Clarke Quay Approximately 13.5 years from 7 Jun 2007 expiring 31 Dec 2020 2020 15.8%
Australia Hotels
Approximately 11 years from 19 Feb 2010 expiring 30 Apr 2021
2021 11.1%
Angsana Velavaru
10 years from 1 Feb 2013 expiring 31 Jan 2023
2023 7.5%
Rendezvous Hotel Auckland 10 years from 7 Sep 2006
2016 7.1%
Studio M Hotel
20 years from 3 May 2011 with an option to renew for three
2031 5.7%
consecutive additional terms of 20 years + 20 years + 10 years
Claymore Connect
Range of lease terms - for details on lease expiry profile, refer to page 57
3.2%
OVERVIEW AND FINANCIAL REVIEW
Weighted Average Lease Expiry (Based on Gross Rental Income)
Hotel Properties
8.3 years
(4)
Retail Mall (Claymore Connect)
2.5 years
(5)
New Leases
2.6 years
(5)
In FY 2015, all the new leases entered into relate to Claymore Connect as the mall reopened in October 2015 after a major
asset enhancement exercise. The proportion of the new leases is only 1.9%
(6)
of total gross rental income for the year.
OVERVIEW AND
FINANCIAL REVIEW
17
Annual Report 2015
