Reuters: Hot Stocks: STOCKS NEWS ASEAN-CDL Hospitality to gain from strong tourism-OCBC

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STOCKS NEWS ASEAN-CDL Hospitality to gain from strong tourism-OCBC Mar 19th 2012, 01:56 Sun Mar 18, 2012 9:56pm EDT Singapore's CDL Hospitality Trusts, which owns hotels, is well positioned to benefit from growing tourism in Singapore as well as stronger revenue for high-end hotels, OCBC Investment Research said. It maintained its buy rating and a target price of S$2.00 for CDL Hospitality. Shares in the units were up 1.4 percent at S$1.785, and have gained 15.5 percent this year. "Many of the visitors from developing countries are not budget travelers," said OCBC, highlighting that the revenue per available room (RevPAR) for high-end hotels in Singapore outperformed budget hotels in January. Overall, RevPAR for Singapore hotels rose 11.7 percent in January from a year ago, while visitor arrivals grew 13.4 percent, data from the Singapore Tourism Board shows. "With the majority of its revenue coming from high-end Singapore hotels, CDL Hospitality Trusts will continue to be a beneficiary of the blossoming tourism industry," OCBC said. 0940 (0140 GMT) Reporting by Charmian Kok in Singapore Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ Singapore MSCI March futures rose 0.2 percent on Monday, signaling a positive start for the Straits Times Index . Asian shares edged higher and the dollar was firm against the yen on Monday with investors buoyed by the U.S. market hitting an almost four-year high last week and by higher European stocks reflecting signs of growing stability in the euro zone. 0838 (0038 GMT) Reporting by Charmian Kok in Singapore Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

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