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CGS CIMB

REIT

Strong RevPAR in Oct 2018

 

■ Visitor arrivals grew 4.1% yoy in Oct despite flat Chinese arrivals.

■ Oct RevPAR grew strongly by 9.6% yoy. However, Nov and Dec RevPAR most likely will be weaker than Oct.

■ Maintain Overweight on REIT with hospitality REIT as our second preferred sub-sector. CDLHT remains our top pick in the sub-sector.

 

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  • Lionel Lim