CDL Hospitality Trust

CDL Hospitality Trust: OSK DMG released a report on Company, that uncertainty in the market remains. House noted that although the market has somewhat stabilized in 4Q12 on the back of a relatively strong festive season, with a weaker calendar year of events in 2013, particularly during 1Q13, they believe the earnings of the Company will be under pressure as competition in the hospitality sector continues to grow. Competition is also expected to be strongest in 1Q13 as 36.2% of 2013 total supply of hotel rooms are expected to come through during this quarter. Given a tight supply in the labor market of Singapore, management indicated that more initiatives would be introduced in the coming months to cut down on the hotels’ dependence on labor. In addition, a system which allows the Group to share pools of labor within its group of hotels will also be introduced in the coming months. OSK DMG maintain NEUTRAL with unchanged TP of $2.05 on CDL Hospitality Trust.