CapitaLand Ascott Trust - UOB Kay Hian 2026-04-29: Seasonal Softness In 1Q26 Exacerbated By AEIs

• CapitaLand Ascott Trust (SGX:HMN) provided 1Q26 business update.

Portfolio RevPAR was seasonally softer.

• Actual portfolio RevPAU declined 3% y-o-y to S$137 in 1Q26. Excluding The Cavendish London (TCL), RevPAU would have increased 1% y-o-y on a same-store basis. Portfolio occupancy was flat y-o-y at 77% in 1Q26.
• - Read this at SGinvestors.io -

Drawing on past divestment gains to stabilise DPU.

• Gross profit was affected by:
  1. the closure of TCL for renovations,
  2. the closure of Madison Hamburg for 1.5 months for works on the car park (the property has since reopened),
  3. the divestment of Citadines Central Shinjuku Tokyo pending deployment of proceeds, and
  4. ongoing asset enhancement initiatives (AEIs).
• - Read this at SGinvestors.io -

Singapore: Relying on regional travel and long-stay demand.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Previous report by UOB:
2026-02-03 CapitaLand Ascott Trust - 2H25 Portfolio RevPAU Maintained Upward Trajectory.

Price targets by 3 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