CDLHT: Announcement on the Unaudited Financial Statements of CDL Hospitality Trusts, H-REIT and its Subsidiaries and HBT and its Subsidiaries for the fourth quarter and full year ended 31 December 2016 and related announcements

General Announcement::Announcements by CDL Hospitality Trusts, an associate of Mi...

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General Announcement::Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc

Issuer & Securities

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Stapled Security No

Announcement Details

Announcement Title

General Announcement

Date & Time of Broadcast 26-Jan-2017 07:49:20

Status New

Announcement Sub Title Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc

Announcement Reference SG170126OTHR1VC1

Submitted By (Co./ Ind. Name) Enid Ling Peek Fong

Designation Company Secretary

CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc, has released the following announcements to Singapore Exchange Securities Trading Limited on 26 January 2017:

1. Unaudited Fourth Quarter and Full Year ended 31 December 2016 Financial Statements Announcement and Press Release on "CDL Hospitality Trusts Reports Total Distribution of S$30.9 Million for 4Q 2016".

   Description (Please provide a detailed description of the event in the box below)

2. Presentation Slides for the Unaudited Results for the Fourth Quarter and Full Year ended 31 December 2016.

3. Notice of Valuation of Real Assets

4. Payment of Management Fee by way of Issue of Stapled Securities in CDL Hospitality Trusts

5. Notice of Books Closure and Distribution Payment Date.

6. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in securities (Form 6)

7. Notification of Substantial Unitholder's Interest (Form 3)

For details, please refer to the announcements posted by CDL Hospitality Trusts on the SGX website, www.sgx.com.

Financial Statements and Related Announcement::Full Yearly Results

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Financial Statements and Related Announcement::Full Yearly Results Issuer & Securities

Issuer/ Manager

M&C REIT MANAGEMENT LIMITED

Securities CDL HOSPITALITY TRUSTS - SG1T66931158 - J85

Stapled Security Yes

Other Issuer(s) for Stapled Security

Name

DBS TRUSTEE LIMITED

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date & Time of Broadcast 26-Jan-2017 07:30:25

Status New

Announcement Sub Title Full Yearly Results

Announcement Reference SG170126OTHRVHI3

Submitted By (Co./ Ind. Name) Enid Ling Peek Fong

Designation Company Secretary

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Please refer to the attached documents:

1. Unaudited Financial Statements Announcement of CDL Hospitality Trusts, H-REIT and its subsidiaries and HBT and its subsidiaries for the Fourth Quarter and Year Ended 31 December 2016.

2. Press Release on "CDL Hospitality Trusts Reports Total Distribution of S$30.9 Million for 4Q 2016".

Additional Details

For Financial Period Ended

31/12/2016

Attachments

Announcement_4Q_2016_Final.pdf

CDLHT_4Q 2016_Press_Release.pdf Total size =1659K

CDL HOSPITALITY TRUSTS UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2016

TABLE OF CONTENTS

INTRODUCTION	Page 1
SUMMARY OF CDL HOSPITALITY TRUSTS' RESULTS	2
1(a)	STATEMENTS OF TOTAL RETURN AND STATEMENTS OF COMPREHENSIVE INCOME	3 - 9
1(b)(i)	STATEMENTS OF FINANCIAL POSITION	10 - 12
1(b)(ii)	AGGREGATE AMOUNT OF GROUP'S BORROWINGS AND DEBT SECURITIES	12 - 13
1(c)	STATEMENTS OF CASH FLOWS	14 - 16
1(d)	STATEMENT OF MOVEMENTS IN STAPLED SECURITYHOLDERS' FUNDS	17 - 21
1(e)	DETAILS OF ANY CHANGES IN THE STAPLED SECURITIES	22
2	AUDIT STATEMENT	23
3	AUDITORS' REPORT	23
4	ACCOUNTING POLICIES	23
5	CHANGES IN ACCOUNTING POLICIES	23
6	EARNINGS PER STAPLED SECURITY AND DISTRIBUTION PER STAPLED SECURITY	23 - 24
7	NET ASSET VALUE PER UNIT	24
8	REVIEW OF PERFORMANCE	25 - 32
9	VARIANCE BETWEEN FORECAST OR PROSPECTUS STATEMENT AND ACTUAL	32
10	OUTLOOK AND PROSPECTS	33
11	DISTRIBUTIONS	34 - 35
12	DISTRIBUTION STATEMENT	36
13	GENERAL MANDATE RELATING TO INTERESTED PERSON TRANSACTIONS	36
14	CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL	36
15	SEGMENTAL INFORMATION	36
16	FACTORS LEADING TO ANY CHANGES IN CONTRIBUTIONS TO TURNOVER AND EARNINGS	36
17	BREAKDOWN OF SALES	37
18	ANNUAL DISTRIBUTION TO HOLDERS OF STAPLED SECURITIES	37
19	CONFIRMATION PURSUANT TO RULE 704(13) OF THE LISTING MANUAL	37

A stapled group comprising:

CDL HOSPITALITY REAL ESTATE INVESTMENT TRUST AND ITS SUBSIDIARIES

(a real estate investment trust constituted on 8 June 2006 under the laws of the Republic of Singapore)

and

CDL HOSPITALITY BUSINESS TRUST AND ITS SUBSIDIARIES

(a business trust constituted on 12 June 2006 under the laws of the Republic of Singapore)

CDL HOSPITALITY TRUSTS UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2016

INTRODUCTION

CDL Hospitality Trusts ("CDLHT") is a stapled group comprising CDL Hospitality Real Estate Investment Trust ("H-REIT"), a real estate investment trust, and CDL Hospitality Business Trust ("HBT"), a business trust. CDL Hospitality Trusts was listed on the Singapore Exchange Securities Trading Limited ("SGX") on 19 July 2006.

The H-REIT Units and HBT Units are stapled together under the terms of a stapling deed dated 12 June 2006 entered into between M&C REIT Management Limited (the "H-REIT Manager"), DBS Trustee Limited (the "H-REIT Trustee") and M&C Business Trust Management Limited (the "HBT Trustee-Manager") and cannot be traded separately.

H-REIT, the first hotel real estate investment trust in Singapore, is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate which is primarily used for hospitality and/or hospitality-related purposes, whether wholly or partially, and real estate-related assets in relation to the foregoing.

As of 31 December 2016, CDLHT owns 15 hotels and two resorts comprising a total of 4,912 rooms as well as a retail mall. The properties under CDLHT's portfolio are:

1. six hotels in the gateway city of Singapore comprising Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King's Hotel, Novotel Singapore Clarke Quay and Studio M Hotel (collectively, the "Singapore Hotels"), as well as a retail mall adjoining Orchard Hotel (Claymore Connect);

2. five hotels in Brisbane and Perth, Australia, comprising Novotel Brisbane, Mercure Brisbane, Ibis Brisbane, Mercure Perth and Ibis Perth (collectively, the "Australia Hotels");

3. two hotels in Japan's gateway city of Tokyo, comprising Hotel MyStays Asakusabashi and Hotel MyStays Kamata, (collectively, the "Japan Hotels");

4. one hotel in New Zealand's gateway city of Auckland, namely Grand Millennium Auckland (formerly known as Rendezvous Hotel Auckland) (the "New Zealand Hotel");

5. one hotel in Cambridge, United Kingdom, namely Hilton Cambridge City Centre (the "UK Hotel"); and

6. two resorts in Maldives comprising Angsana Velavaru and Jumeirah Dhevanafushi, (collectively, the "Maldives Resorts").

In December 2013, the HBT Trustee-Manager activated the HBT. In addition to the acquisition of Jumeirah Dhevanafushi in December 2013, HBT has through its indirectly wholly-owned subsidiary, AKO GK also become the master lessee following the acquisition of the Japan Hotels by H-REIT's indirectly-owned subsidiary in December 2014. In addition to its function as a master lessee, HBT may also undertake certain hospitality and hospitality-related development projects, acquisitions and investments which may not be suitable for H-REIT.

On 1 October 2015, HBT through its indirectly wholly-owned subsidiary, CDL HBT Cambridge City (UK) Ltd acquired Hilton Cambridge City Centre through the acquisition of 100% of the issued share capital of CDL HBT Cambridge City Hotel (UK) Ltd.

CDLHT's distribution policy is to distribute at least 90.0% of its taxable income and of its tax exempt income (if any), with the actual level of distribution to be determined at the H-REIT Manager's and HBT Trustee-Manager's discretion. CDLHT makes distributions to stapled securityholders on a semi-annual basis, with the amount calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates. Distributions, when paid, will be in Singapore dollars.

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