Basic Profile & Key Statistics
Ascott Residence Trust (ART) has recently merged with Ascendas Hospitality Trust (AHT), this merger is completed in January 2020. ART is currently the largest Singapore hospitality trust in terms of market cap.
Lease Profile
Its REVPAU figure is only for properties with management contracts. As mentioned previously, there is no standardization for hospitality trust REVPAU value, thus it makes us unable to have an apple to apple comparison. WALE for master lease is at 7.75 years, which is the median value for Singapore hospitality trust. The highest master lease expiry within 5 years is at 18.2% which falls in 2020. 75.6% of its income is received in SGD and major currencies. Weighted land lease expiry is long at 77.67 years.
Debt Profile
Gearing ratio is healthy at 35.4%. Cost of debt is quite low at 1.8%. Fixed rate debt of 81% is slightly higher than SREITs median while unsecured debt of 63.6% is lower than SREITs median....
Ascott Residence Trust (ART) has recently merged with Ascendas Hospitality Trust (AHT), this merger is completed in January 2020. ART is currently the largest Singapore hospitality trust in terms of market cap.
Lease Profile
Its REVPAU figure is only for properties with management contracts. As mentioned previously, there is no standardization for hospitality trust REVPAU value, thus it makes us unable to have an apple to apple comparison. WALE for master lease is at 7.75 years, which is the median value for Singapore hospitality trust. The highest master lease expiry within 5 years is at 18.2% which falls in 2020. 75.6% of its income is received in SGD and major currencies. Weighted land lease expiry is long at 77.67 years.
Debt Profile
Gearing ratio is healthy at 35.4%. Cost of debt is quite low at 1.8%. Fixed rate debt of 81% is slightly higher than SREITs median while unsecured debt of 63.6% is lower than SREITs median....
