CDL Hospitaility Trust

CDL Hospitaility Trust: Reported FY10 results this morning, which were in-line with forecasts. 4Q DPU of 2.78c, +29.3% and FY10 DPU of 10.2c, +32.7%, in line with forecast. As expected 4Q average room rate dipped marginallyQoQ to $215 vs $217 in 3Q, due to seasonally higher leisure travelers vs corporate travelers…

Occupancy has also dipped marginally to 90% vs 92% in 3Q due to Youth Olympic Game and F1 held in 3Q. DMG’s Current forecast is 11% earnings growth in FY11 driven by 10% RevPar. Most houses are currently reviewing REIT’s performance now.