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amateur property observer at At home

TRIS rating report on the CPNREIT . What the report does not mention is anything about same store rental growth. I have not seen any mention of that item either in CPN's investor presentations . The REIT holds 7 shopping centers including Central Rama 2 and Rama 3 , 4 office buildings and the Hilton Hotel Pattaya "CPNREIT’s revenue and earnings growth were primarily driven by the robust occupancy rate (OR) of shopping centers at above 95% and increased revenues from revenue-sharing contracts. The trust also received the full amount of fixed and variable rents for Hilton Pattaya since the beginning of 2023. The OR of the Hilton Pattaya Hotel recovered to 88% in 2023 and 94% in 6M24 from 76% in 2022. However, the OR of office buildings continued declining to 84%-85% in 2023-6M24 from above 90% of the pre-pandemic level. Future performance continues reviving We expect CPNREIT’s operating performance to continue improving, supported by increasing rental and services income from its retail and hotel businesses amid the ongoing recovery of customer traffic, rising tourist arrivals in Thailand, and growth prospects from potential asset acquisitions from its sponsor. Nonetheless, we view that the OR and rental rates of office spaces will continue to face significant challenges due to the large influx of supply expected in 2024-2025.  " https://lnkd.in/gqe9AnYQ

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Insightful. Thanks

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