CDL Hospitality Trusts is a stapled group consisting of CDL Hospitality Real Estate Investment Trust („H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust („HBT”), a business trust. 1 Sleeping since Listing Date and principal tenant of last instance. H-REIT is managed by M-C REIT Management Limited (the „H-REIT Manager”), a wholly indirect subsidiary of Millennium – Copthorne Hotels Limited. The H-REIT Manager is responsible for the overall management and asset management of H-REIT and the emergence of new acquisitions. It works closely with hotel master marauders and/or hotel managers to implement H-RETEs` plans to improve assets, working closely with Millennium and Copthorne Hotels Limited and its parent company City Developments Ltd, one of Singapore`s largest companies. The company activated HBT as a HBT Trust Manager for the first time at the end of 2013. It`s great to see that the REIT manager is actively improving his assets through asset improvement initiatives (AIS). Taking advantage of the drop in demand, this is a great opportunity for hotel and restaurant REITs to make and improve the quality of their assets. ReIT Management Limited and M-C Business Trust Management are led by an experienced board of directors with extensive and extensive experience in fund management, assets, hospitality and real estate in Singapore and around the world.

H-REIT, the first Hotel Real Estate Investment Trust („REIT”) in Singapore, is founded with the most important investment strategy to invest directly or indirectly in a diversified portfolio of real estate assets related to hotels and/or hotels worldwide. HBT exists primarily as a „master tenant of last resort” if H-REIT cannot appoint a principal tenant for one of the hotels in its portfolio after the expiry of the master credit contract or for a newly acquired hotel. HBT may also carry out certain development projects in the hotel and restaurant sector, acquisitions and investments that may not be suitable for H-REIT. H-REIT was created with the main investment strategy in a diversified portfolio of income properties, mainly used for hotel and/or restaurant purposes. This graph from OCBC Investment Research (OIR) shows the share of fixed rent in the variable rental component of Ascott Residence Trust (ART), CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT).