The Board is proud to present CDL Hospitality Trusts' ("CDLHT") fourth Sustainability Report ("Report") for the financial year ended 31 December 2020 ("FY 2020"). The Report is in compliance with the Singapore Exchange Limited ("SGX") requirements.
COVID-19 has caused a humanitarian crisis and severely disrupted business operations globally. As borders remain closed, international travel remains largely at a standstill. The past year has been challenging for the hospitality industry and for CDLHT. Our people and businesses were inevitably impacted. Given the pandemic situation, creating a safe business and working environment for our employees and guests in addition to mitigating financial losses became our top priorities as we navigated through the crisis. In this regard, CDLHT has implemented a comprehensive safe management plan which was also implemented by the respective Singapore Hotels. For the overseas hotels, we have ensured that they have been implementing country-specific COVID-19 measures and regulations. Notwithstanding this, CDLHT continues to monitor the development of the situation surrounding COVID-19 and its impacts on our business and employees. More information about our response to COVID-19 can be found on page 116.
In FY 2020, 6 of the portfolio's hotels obtained government contracts to operate as quarantine facilities. Additionally, 3 hotels have been added to our reporting scope including W Hotel, Raffles Maldives Meradhoo and Hotel Cerretani Firenze.
Despite the challenging environment, we recognise that a strong commitment to Environmental, Social and Governance ("ESG") factors is key to bolstering recovery in the post-pandemic world and promoting long-term business viability. We remain steadfast in our commitment to pursue sustainable actions at our assets together with our operating partners in the areas of workplace safety, eco-efficiency, and staff development. At the Managers' entity, we are focusing our efforts on the health of our workforce and maintaining regulatory compliance.
This Report presents our sustainability efforts throughout the year, including our targets which were formalised by the Managers, and reviewed by the Managers' Boards. We will continue to challenge our sustainability performance each year and commit to targets towards sustainable progress.
Click here for full details of Sustainability Report.