- CapitaLand Ascott Trust reported 1H25 revenue of S$398.5m (+3% y-o-y) and a higher gross profit of S$182.5m (+6% y-o-y) on the back of acquisitions, RevPAR recovery and higher contributions from assets with recent AEIs. This included contributions from Lyf Funan, and two Japan hotels acquired in 1Q25 (Ibis Styles Tokyo Ginza, Chisun Budget Kanazawa).
- - Read this at SGinvestors.io -
- 1H25 CapitaLand Ascott Trust's DPU declined 1% y-o-y to 2.53 cents – and tracks above our full year estimate of 5.70 cents (core DPU). Core DPU for 1H25 would have been flat at 2.40 cents (vs 1H24 core DPU of 2.41 cents) due to absence of one-off income items in 1H24 (which includes S$6.3m in outstanding payments from Park Hotel CQ tenant recorded in 1H24).
Diversified portfolio helped to offset a weaker performance from SG assets.
- - Read this at SGinvestors.io -
- Singapore saw a weaker performance with a 3% decline in RevPAR this quarter, primarily from increased supply competition which has resulted in lower ADRs in the quarter.
Stable capital management, issuance of new perpetuals saw higher costs in 1H25.
- Read more at SGinvestors.io.
