- CapitaLand Ascott Trust’s 3Q24 gross profit rose 8% y-o-y. A large part of this was driven by active portfolio reconstitution initiatives; on a same-store basis, gross profit would have grown 2% y-o-y on stronger operating performance.
- - Read this at SGinvestors.io -
Most key markets posted y-o-y RevPAU except Australia
- Most of CapitaLand Ascott Trust's key markets posted y-o-y RevPAU growth, with Japan/UK/US RevPAU rising 6%/7%/3%, respectively, in local currency terms. Australia was the only laggard with 3Q24 RevPAU declining 11% y-o-y, because of high base effects given that the FIFA Women’s World Cup was held in 3Q23.
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- While hotel revenue per available room (RevPAR) growth is moderating globally, we expect it to remain generally positive in 2025, barring any unforeseen circumstances.
Active portfolio reconstitution remains underway
- Read more at SGinvestors.io.
