CDL Hospitality Trusts - RHB Invest 2015-12-02: More Chinese Tourists Does Not Mean More Money
CDL HOSPITALITY TRUSTS CDLHT J85.SI CDL Hospitality Trusts (CDREIT SP) - More Chinese Tourists Does Not Mean More Money
- Most believe that the recent Chinese tourist surge in Singapore could potentially be a catalyst to hoteliers.
- Maintain SELL and DDM-derived SGD1.14 (14% downside), as we note that the influx of Chinese arrivals does not translate into higher RevPAR.
- In addition, we expect CDLHT’s Maldives exposure to remain challenging as Chinese luxury spending continues to slow down in the midst of a weaker China economy.
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