OVERVIEW AND
FINANCIAL REVIEW
ABOUT CDLHT
CDLHT, a stapled group comprising H-REIT and HBT, was established with
the principal investment strategy of investing in a portfolio of hospitality
and/or hospitality-related real estate assets globally.
CDLHT owns 18 properties, valued at S$2.5 billion as at 31 December 2015,
with a total of 4,909 hotel rooms, comprising six hotels and a retail mall in
Singapore, five hotels in Australia, one hotel in New Zealand, two hotels in
Japan, one hotel in United Kingdom and two resorts in Maldives.
The properties in Singapore comprise Orchard Hotel, Grand Copthorne
Waterfront Hotel, M Hotel, Copthorne King’s Hotel, Studio M Hotel and
Novotel Singapore Clarke Quay (collectively, the "
Singapore Hotels
" with
an aggregate of 2,716 rooms) as well as a retail mall adjoining Orchard
Hotel. The hotel properties in Australia comprise Novotel Brisbane, Mercure
Brisbane, Ibis Brisbane, Mercure Perth and Ibis Perth (collectively, the
"
Australia Hotels
" with an aggregate of 1,139 rooms). The hotel property
in New Zealand, Rendezvous Hotel Auckland, adds 452 rooms to CDLHT’s
portfolio. The two hotels in Japan comprise Hotel MyStays Asakusabashi
and Hotel MyStays Kamata (collectively the "
Japan Hotels
" with an
aggregate of 254 rooms). The two resorts in Maldives comprise Angsana
Velavaru and Jumeirah Dhevanafushi (collectively the "
Maldives Resorts
"
with an aggregate of 150 villas).
In October 2015, CDLHT marked its maiden entry into the European market
with the acquisition of the 198-room Hilton Cambridge City Centre (formerly
known as Cambridge City Hotel, the "
UK Hotel
"). The property is a newly
refurbished upper upscale hotel located in the heart of Cambridge city
centre in United Kingdom.
CDLHT’s portfolio of quality hotel and hotel-related assets in Singapore,
Australia and New Zealand are strategically located in or near the central
business districts in key cities and largely marketed as "superior" or 5-star
hotels. The Japan Hotels are known as business hotels in the local context
and are located within close proximity to major transportation networks
and tourist attractions in Tokyo. CDLHT’s luxurious resorts in the Maldives,
a top-tier premium destination with the exclusive "one-island-one-resort"
concept, offers guests with two distinct experiences with the beachfront and
water villas within one resort.
All the properties, with the exception of Claymore Connect, Jumeirah
Dhevanafushi, the Japan Hotels and UK Hotel, are leased to external master
lessees by H-REIT. Claymore Connect is leased directly to retail tenants
by H-REIT. Jumeirah Dhevanafushi, the Japan Hotels and UK Hotel are
managed by hotel management companies.
H-REIT’S STRATEGY
The principal investment strategy of H-REIT is to invest in a diversified
portfolio of income-producing real estate, which is primarily used for
hospitality and/or hospitality-related purposes. Such investments may be
by way of direct acquisition and ownership of properties by H-REIT or may
be effected indirectly through the acquisition and ownership of companies
or other legal entities, which primary purpose is to hold or own real estate
and real estate-related assets which are used for hospitality and hospitality-
related purposes.
OVERVIEW OF
CDL HOSPITALITY TRUSTS
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