Singapore's CDL Hospitality, 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.
"Many of the visitors from developing countries are not budget travellers," 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.
