CapitaLand Ascott Trust - OCBC Investment 2024-01-30: First Class

CapitaLand Ascott Trust - First Class

Published:
CapitaLand Ascott Trust (SGX:HMN) | SGinvestors.ioCapitaLand Ascott Trust (SGX:HMN)

FY23 results came in above expectations on one-off items

  • - Read this at SGinvestors.io -
  • - Read this at SGinvestors.io -

Robust financial performance underpinned by recovery in operational metrics

  • CapitaLand Ascott Trust’s 2H23 RevPAU rose 10% y-o-y to S$157, reaching 103% of 2H19’s pro forma RevPAU. Strong RevPAU performance throughout the year was underpinned by elevated average daily rates (ADR).
  • Portfolio occupancy stood at 77% in 4Q23, ~92% of pre-COVID levels. China and Vietnam continue to lag, with 4Q23 same-store occupancy at 86% and 88% of 4Q19’s pro forma levels, respectively, though recovery momentum in these markets remains positive.
  • As international flight capacity continues to increase and visa-free travel arrangements are implemented, management of CapitaLand Ascott Trust expects occupancy to continue to recover, lending support to RevPAU.

Credit metrics remain healthy

  • Read more at SGinvestors.io.



Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.



Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-01-30



Read also OCBC's most recent report:
2025-04-29 CapitaLand Ascott Trust - Jitterbug.

Previous report by OCBC:
2025-02-03 CapitaLand Ascott Trust - Out With The Old, In With The New.

Price targets by other brokers at CapitaLand Ascott Trust Target Prices.

Listing of research reports at CapitaLand Ascott Trust Analyst Reports.

Relevant links:
CapitaLand Ascott Trust Share Price History,
CapitaLand Ascott Trust Announcements,
CapitaLand Ascott Trust Dividend Payout Dates & Corporate Actions,
CapitaLand Ascott Trust News






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