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Business Times
30-07-2025
- Business
- Business Times
CDL Hospitality Trusts H1 DPS falls 21.1% to S$0.0198 as W Hotel renovations continue
[SINGAPORE] The distribution per stapled security (DPS) for CDL Hospitality Trusts (CDLHT) fell 21.1 per cent to S$0.0198 for the first half ended Jun 30, from S$0.0251 in the previous corresponding period. This comes as the total distribution to stapled securityholders fell 20.2 per cent to S$25.1 million from S$31.4 million in the first half of last year. Net property income (NPI) fell 11.9 per cent to S$58.6 million for H1 2025, from S$66.5 million in the previous corresponding period. Its S$7.9 million net NPI decline was largely driven by ongoing room renovations at the W Hotel, which accounted for a S$3.2 million drop. These renovations are set to be completed by early 2026. Revenue declined 1.8 per cent to S$125.1 million after most portfolio markets outside the UK, Japan and Australia performed worse, the trust's manager said on Wednesday (Jul 30). Revenue per available room (RevPar) came in mixed across the stapled group's portfolio. Its Singapore, New Zealand, Maldives, UK and Italy markets logged declines, while its Australia, Japan, and Germany markets experienced growth. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The group's core Singapore market NPI fell 20.9 per cent to S$30.2 million, from S$38.3 million in H1 of the 2024 financial year. This came alongside lower RevPar, which fell 14.2 per cent to S$165 from S$193. Occupancy for Singapore hotels was down 5.2 percentage points at 73.2 per cent for the latest H1, from 78.4 per cent previously. CDLHT's Singapore hotels RevPAR was weighed down by a strong base effect when compared with the previous year's first half, where there was strong demand from large-scale events. It was also affected by subdued corporate demand, owing to global and economic uncertainties and exacerbated by tariff concerns, said the manager. It added that room renovations at W Singapore also played a part in the drop. The declines for the Singapore portfolio came despite visitor arrivals for the first half of 2025 rising 1.9 per cent from the year-ago period to 8.3 million. The UK market, which makes up the largest share of CDLHT's portfolio after Singapore, recorded 3.8 per cent lower hotels RevPAR at £114 (S$196) and 13.1 per cent NPI growth across its four hotels. It also posted NPI gains in its living assets business, which includes build-to-rent property and purpose-built student accommodation segments. As at Jun 30, CDLHT's gearing stood at 42 per cent and its interest coverage ratio was 2.11 times. Poised to benefit from more favourable rates CDLHT is poised to benefit from a potentially more favourable rate environment due to its 'low fixed to floating debt profile' and 'interest rate hedging strategy', said Vincent Yeo, CEO of CDLHT's managers. 'Capital recycling remains an integral part of our strategy to unlock value and reinforce portfolio resilience,' he added. Stapled securities of CDLHT closed on Tuesday 0.59 per cent or S$0.005 lower at S$0.85.
Forbes
23-07-2025
- Entertainment
- Forbes
Sustainability In SF
Solar Power Station over Victorian homes Haight Ashbury residential district San Francisco - ... More California USA. While the Bay Area generally keeps its food scene local, some inventive hospitality folks are going above and beyond the usual. The W San Francisco has had a couple of bee hives on its roof for more than a decade and launched its beehive experience in fall of last year where guests can visit the bees and enjoy a honey-based Buzz & Brunch menu during the weekend. The beehive on the roof. The two hives are home to 60,000 bees. They are overseen by W Hotel beekeeper Roger Garrison and the number of bees is slated to double in size by the end of August. It's a sustainable play that is supplying the hotel with its own unique honey with which to accent its dishes. While the honey can be enjoyed in food, and small takeaway jars, guests can also make the journey to the roof to see what the bees are doing and come the fall the W Hotel will be offering larger corporate bookings for 15 to 20 people. Garrison is a second-generation bee keeper and is a wealth of information on what makes honey bees unique and how they function. Just pull on your roomy, white one-piece protective suit—if you do head up there—with the netting over your face and you too can get intimate with the bees. The Queen Realistic Bee Queen Mother with Golden Crown. Detailed Illustration of a Queen Bee on White. Macro ... More Insect, Concept of Food Industry, or Beekeeping Apparently only the queen bee lays eggs and can lay up to two thousand eggs a day, according to Garrison. There is also a whole protocol about who fills in the honeycomb and why ideally a 90+ Fahrenheit temperature is needed within the hive. It's fascinating stuff. Currently at the 6,000 bees Honey bees at W Hotel are, by the way, also not related to the Yellow Jackets who fly away with a piece your hamburger at a picnic or sting you. Literally dozens on them had nested on my protective suit and you could easily flick them away. They were just dying to go back to work. The Bee's Knees cocktail Apparently, a bee's life span is only about six weeks and they do die when they sting you. There is only one queen at a time and should two reign, they are considered mother-daughter empresses. Female worker bees forage up to two miles, and sometimes even four, for nectar and pollen. In that the bees work hard for their honey; Garrison only takes the honey they can live without. The Brunch Inside the dining room at Trace where the brunch is served. The W Hotel launched the honey buzzy brunch at its Trace restaurant last year. It features a constantly changing menu of honey-infused dishes. They can vary from local cheese to duck or salmon. Our lunch featured delicious honey-glazed duck with a side of crunchy, local creamed corn. It was followed by a beautiful, and divine, panna cotta. The restaurant even has honey-infused cocktails, one is a riff on the Bee's Knee's, garnished with an edible flower; another is the Beekeepers' Paloma, made with Casamigos Mezcal, grapefruit juice, lime juice and W rooftop honey. The pannacotta at Trace. If you are not up for a cocktail there is some nice Sancerre on offer by the glass as well as California Pinot Noir. The brunch offering is an incredibly lovely sustainable package that allows visitors and guests to take a dive into sustainability. As a final touch, the paper the menu is printed on can be planted and will produce wildflowers. The W Hotel may not be the first to have a bee hive on the roof, I have seen it before at other West Coast hotels, but it's a great reminder how we can take care of the environment and enjoy the fruits of its labor.
The Sun
01-07-2025
- Entertainment
- The Sun
I got matching tattoos with Harry Styles after meeting him in a hotel at 17 – now I'm the envy of every One Directioner
A YOUNG woman has revealed that when she was just 17, she 'snuck out' and got a matching tattoo with Harry Styles. Savannah Phillips, a young woman from the United States, has gone viral online after opening up about the tattoo story and is now the envy of every One Direction fan. Posting on social media, the blonde beauty shared a snap of her and Harry Styles, 31, from back in 2012, and claimed that Harry had sketched a heart for her, which she got tattooed on her ankle. After being bombarded with hundreds of questions from desperate One Direction fans who were eager to know more on the backstory, soon after Savannah uploaded a follow-up clip, whereby she explained how her friendship with Harry started. Savannah claimed that she first met Harry, who was recently spotted snogging a mystery woman at Glastonbury, and the rest of the One Direction band in Los Angeles, whilst out for her aunt's birthday at the W Hotel. Whilst eating lunch, Savannah and her family soon noticed that One Direction were sitting next to them and they eventually got talking. After finding out that it was one of One Direction's first times in LA, Savannah recommended they go to In-N-Out Burger - and before long, they were all there together. Not only this, but the lads then invited Savannah and her family to one of their concerts. Savannah and Harry in particular stayed connected through texting and just a few weeks later, when Savannah was only 17 at the time, she found herself in her car with Harry. They went to her house where they tucked into shrimp tacos and Harry shared his desire to get a tattoo that evening, as she explained: 'Harry kept mentioning throughout the night, 'I wanna get a tattoo'.' Savannah claimed that she had always wanted a tattoo, but her mother wouldn't allow it. Despite this, the pair soon found themselves in a tattoo parlour, as Savannah confessed: 'He goes and grabs a big piece of paper and a pen and he's just drawing something for like five, 10 minutes, and then he walks up to me with a piece of paper and is like 'get this'.' Harry Styles fans shocked as 1D star snaps pic of them on holiday in Rome - and DMs it to them months later Savannah confirmed that Harry had called her mum from the shop to get her approval and just minutes later, she had his sketched heart inked onto her ankle. Savannah beamed: 'I got it done and it didn't hurt, because I think my adrenaline was pumping so hard.' It was a very strange, surreal and sweet chapter of my life that I am very grateful for Savannah Phillips Savannah later confirmed that Harry also got inked whilst with her that same night. Reflecting on her friendship with Harry, Savannah acknowledged: 'People ask if we're still in touch and, no, I haven't been in touch with Harry for a very long time, but I know if I run into him on the street, he would give me a hug, it'd be like no time had passed. 'I still do keep in contact with some of the crew and the band members - we all have very different lives now, it was a very strange, surreal and sweet chapter of my life that I am very grateful for.' Which tattoos hurt the most? Depending on what part of your body you choose to ink, tattoos can range significantly in terms of pain levels. Some of the most painful areas are those where the skin tends to be thinner or closer to the bone. Each area has specific factors which contribute to the level of pain. Ribcage: Thin skin, little muscle, and many nerve endings. Feet and ankles: Many bones, tendons, and nerve endings close to the surface. Hands and fingers: Many bones, tendons, and nerve endings, resulting in increased pain during tattooing. Knuckles can be especially painful. Spine: Proximity of the spinal cord and nerve endings makes it sensitive. Tattooing directly over the vertebrae can be especially painful. Knees and elbows: Thin skin and little padding between the skin and the underlying bones. Armpits and groin: High concentration of nerve endings and lymph nodes. Neck and throat: Thin and sensitive skin, with many nerve endings and blood vessels close to the surface. Source: Tatt2Away Harry Styles' fans gasp The TikTok clip, which was posted under the username @ thatsavchick, has clearly left many open-mouthed, as it has quickly gone viral and racked up 1.6 million views, 250,800 likes and 1,797 shares. Fans of Harry Styles were gobsmacked by Savannah's story and many raced to the comments to express their jealousy. One person asked: 'How does it feel to live every One Directioner's dream?' Another added: 'You're everything I ever wanted to be….' A third commented: "I'm not a jealous person but that changes today.' Someone else revealed: 'Teenage me would have been jealous of you.' Whilst one avid Harry Styles fan wrote: 'I will peel your skin off and wear it myself.'
Muscat Daily
30-06-2025
- Business
- Muscat Daily
Oman Air joins Oneworld alliance, expands reach and benefits
Muscat – In a strategic move set to boost inbound tourism, Oman Air has officially joined the Oneworld alliance, becoming its 15th full member. Its inclusion in one of the world's most prestigious airline networks positions Oman as a more connected and accessible destination than ever before, opening new travel corridors to and from over 900 destinations across 170 countries. This milestone follows more than two years of integration efforts and is expected to drive tourism, economic growth and global recognition for the sultanate. Speaking during a breakfast meeting at W Hotel on Monday, Con Korfiatis, CEO of the airline, said, 'Oman Air is honoured to be joining the Oneworld alliance. We are thrilled to welcome Oneworld customers to experience Oman's rich culture, mountain adventures, serene beaches and heartfelt hospitality. For Oman-based travellers, this opens up a world of seamless global journeys.' As a full member, Oman Air's top-tier guests will now enjoy access to nearly 700 business lounges worldwide, including newly opened Oneworld-branded lounges at Amsterdam Schiphol and Seoul Incheon. Guests will also benefit from priority check-in, boarding, mileage earning and redemption, and full status recognition across the alliance. Con Korfiatis, CEO of Oman Air The move is set to attract more visitors from key long-haul markets such as the United States, Japan and Australia, offering them smoother travel to Oman through partner airlines. Welcoming the development, Nat Pieper, CEO of Oneworld, said, 'Oman Air brings valuable strategic reach and award-winning service to our network. This partnership enhances our connectivity across the Gulf and South Asia, and strengthens our position as the alliance of choice for international travellers. With Oneworld membership, Oman Air not only enhances its service portfolio but also places the sultanate firmly on the global travel map as a must-visit destination.' The announcement comes as Oman Air expands its global footprint, with new direct flights from Muscat to Amsterdam launching on July 1, and a double daily Muscat–London service starting in October. Oman Air currently operates flights to 42 destinations in 22 countries, and this partnership significantly increases its reach.
The Herald Scotland
30-06-2025
- Business
- The Herald Scotland
Logistics remain favourite among Scottish property investors
The biggest deal was the £100m sale of the W Hotel at Edinburgh's St James Quarter by Nuveen to Schroders, followed by Sovereign Centros' £54.44m disposal of St Enoch Shopping Centre in Glasgow to Praxis. Minus these transactions it was another muted quarter for the market, though sentiment towards the logistics sector remains broadly optimistic and there are signs of renewed buyer interest elsewhere. Read more: Lismore said the sale of W Hotel underscored the continuing outperformance of Edinburgh's hotel market, which remains buoyed by strong tourism and business travel. High occupancy levels in the region of 85% and double-digit revenue growth are driving investor appetite for increasingly scarce hotel redevelopment opportunities in the Scottish capital. 'The high street retail sector is also regaining momentum, with investor focus broadening beyond Buchanan and George Street to the best parts of Princes and Argyle Street, supported by limited supply and rental growth," said Chrissie Clancy, investment surveyor at Lismore. Writing in Lismore's quarterly market review, Valentine Beresford and Hugh Chivers of real estate investment trust LondonMetric said logistics remains a favourite. 'Logistics continues to be our preferred sector, driven by strong demand and chronic supply constraints," they said. "While rising debt costs and limited stock present challenges, they're market-wide, not sector-specific. Praxis closed the purchase of the St Enoch Shopping Centre in May (Image: Lismore) "The biggest issue now is the lack of investable opportunities, with strong competition when assets do come to market." More than half of property investors surveyed by Lismore, 56%, expect to be net buyers in logistics in the second half of this year while just 10% anticipating they will be net sellers. Appetite is strongest among institutional funds, with 71% identified as net buyers, while investment managers and property companies also indicated positive momentum. However, limited availability of high-quality stock was a recurring theme, with many saying their ability to transact will depend on suitable opportunities coming to market. The survey also points to stabilising yield expectations, with 53% of respondents predicting prime logistics yields will remain steady and 38% expecting yields to harden, buoyed by the prospect of interest rate cuts later this year. When asked about key drivers of logistics investment, occupational demand (29%) and rental growth (26%) topped the list, reflecting a continued focus on income resilience and market fundamentals. Liquidity, minimal void risk and yield compression potential were also cited, alongside qualitative feedback emphasising capital deployment needs, low obsolescence risk and sector stability. Read more: Looking at the wider market, Ms Clancy noted early signs of renewed activity in Glasgow where offices are attracting increasing interest with five deals currently under offer. This should improve the volume statistics and give some impetus to the market going into the second half of the year following a particularly quiet start to 2025. Although trading is at an "attractive discount" to historic levels, Ms Clancy noted that the pool of buyers appears to be deepening. French investment collectives known as SCPIs also remain active, and are now expanding their interest beyond the central belt to include Aberdeen for well-let, high-yielding assets. "As income becomes the primary driver of returns, asset management-focused investors are well placed, while sub-£10m lots remain highly liquid among private, often debt-free, buyers," Ms Clancy said. She added: "The UK macroeconomic outlook offers cautious optimism; with inflation softening and interest rate cuts likely in the second half, investor sentiment may begin to turn a corner. "With a number of significant deals expected to conclude in the months ahead, we anticipate a meaningful uplift in activity during H2 2025.'
