OVERVIEW AND
FINANCIAL REVIEW
OVERVIEW AND FINANCIAL REVIEW
(10) Excluding acquisition costs and based on an exchange rate of £1.00 = S$2.1575. The total acquisition costs (including net working capital
adjustments and transaction costs) was approximately £64.2 million (approximately S$138.5 million).
Junior Suite
On 1 October 2015, CDLHT marked its maiden entry into Europe with the acquisition of a hotel in Cambridge, UK, for a
property price of £61.5 million (approximately S$132.7 million
(10)
) which was fully funded by sterling-denominated debt.
In conjunction with the successful completion of the acquisition, Hilton UK Manage Limited (an affiliate of Hilton Worldwide
Inc.) was appointed as the operator of the hotel. The hotel, formerly known as Cambridge City Hotel, has since been
rebranded as Hilton Cambridge City Centre.
1
The hotel is a newly-refurbished upper upscale hotel offering 198 rooms and a comprehensive suite of facilities. It boasts a
prime location in the heart of Cambridge city centre, being 1.6 kilometres from Cambridge railway station and is situated
beside the main thoroughfare. It is also within the vicinity of popular tourist destinations such as King’s College, Fitzwilliam
Museum, and Cambridge’s largest shopping mall, the Grand Arcade Shopping Centre which is adjacent to the hotel.
In April 2015, the hotel completed an £8.2 million phased refurbishment programme involving the public areas and all the
198 rooms.
Isaac Newton Function Room
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1
14
Cambridge Railway Station
Hilton Cambridge City Centre
Location of Hilton Cambridge City Centre in the heart of Cambridge
1. Grand Arcade Shopping Centre
2. Emmanuel College
3. Christ's College Cambridge
4. Lion Yard Shopping Centre
5. King's Parade
6. Trinity College
7. Senate House
8. Market Square
9. King's College
10. Queen's College
11. St Catherine's College
12 Pembroke College
13. Cambridge Judge Business School
14. Fitzwilliam Museum
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2
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8
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Annual Report 2015
