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(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 2016 actual gross rental income from Rendezvous Hotels (NZ) Limited (previous lessee) and Hospitality Services Limited (current
lessee).
(5)
Based on FY 2016 actual gross rental income.
(6)
Based on the passing rental income in the month which the lease expires and excludes gross turnover rent. The weighted average lease expiry
by NLA for Claymore Connect and the new leases are 1.9 years and 2.5 years respectively.
(7)
Computed based on gross rental income of new leases entered into at Claymore Connect in FY 2016 as a percentage of gross rental income of
all properties on leases for FY 2016.
LEASE EXPIRY PROFILE AND TENANT MIX BY GROSS RENTAL INCOME FOR PROPERTIES WITH
LEASES
(1)
For FY 2016
95.4% of CDLHT’s gross rental income for FY 2016 was attributed to hotel properties and the remaining 4.6% 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
Expiry
(2)
% of
Rental Income
(3)
Singapore IPO Hotels
20 years from 19 Jul 2006 with an option to renew for
another 20 years
2026
46.7%
Novotel Singapore
Clarke Quay
Approximately 13.5 years from 7 Jun 2007 expiring
31 Dec 2020
2020
15.9%
Australia Hotels
Approximately 11 years from 19 Feb 2010 expiring
30 Apr 2021
2021
11.0%
Grand Millennium Auckland Three years from 7 Sep 2016 with options to renew
for two further 3-year terms each
2019
10.1%
(4)
Angsana Velavaru
10 years from 1 Feb 2013 expiring 31 Jan 2023
2023
6.3%
Studio M Hotel
20 years from 3 May 2011 with an option to renew for
three consecutive additional terms of 20 years + 20
years + 10 years
2031
5.4%
Claymore Connect
Range of lease terms - for details on lease expiry profile,
refer to page 57
4.6%
Weighted Average Lease Expiry (Based on Gross Rental Income)
Hotel Properties (All hotel leases)
7.6 years
(5)
Grand Millennium Auckland (New hotel lease)
3.0 years
Claymore Connect (All retail leases)
2.0 years
(6)
Claymore Connect (New retail leases)
2.9 years
(6)
The weighted average lease expiry of new leases entered into in FY 2016 are shown separately for the retail mall
(Claymore Connect) and Grand Millennium Auckland as the nature and profile of these leases differ and a separate
disclosure is more meaningful.
In FY 2016, all the new leases entered into relating to Claymore Connect represent only 0.2%
(7)
of total gross rental
income for the year, while the new lease for Grand Millennium Auckland represents 4.4% of total gross rental income
for the year.
19
Annual Report 2016
OVERVIEW AND
FINANCIAL REVIEW