Company Name: CDL HOSPITALITY TRUSTS
| Research House: DBS Vickers | Price Call: BUY | Target Price: 2.06 |
Stock Name: Genting SP
Company Name: GENTING SINGAPORE PLC
| Research House: DBS Vickers | Price Call: BUY | Target Price: 2.05 |
Singapore’s tourist arrivals in April rose 9 % from a year ago, and could point to a record breaking performance for hoteliers in the second quarter, which will benefit the hospitality sector, said DBS Vickers.
The brokerage also said the Singapore Tourism Board’s (STB) target of 13.5 million to 14.5 million visitor arrivals this year could be exceeded.
According to STB data, tourism arrivals for the month of April rose 9 % to 1.2 million from a year earlier, raising year-to-date arrivals to 4.8 million.
Hotel occupancy rates for April were at 87 % with revenue per available room around $227 per night, a 12 % year-on-year jump, STB said.
“Visitor arrival numbers should continue to remain robust given the expected strong line-up of Meetings, Incentives, Conventions and Exhibitions events in coming months,” DBS said.
Its top picks for the hospitality sector are CDL Hospitality Trusts, with a buy rating and target price of $2.06, and Genting Singapore. It has a buy rating and target price of $2.05 on Genting stocks.
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