COVID-19 has decimated all hospitality related industries. Airline, hotels, tourism industries have been wiped out since the lockdown in the early part of 2020. The aforementioned industries are still in the doldrums as we progressed into 2021. Hospitality REITs have without a doubt been affected badly and shunned by investors for the gloomy outlook ahead. One such REIT is Ascott Residence Trust (Ascott). Its share price literally dived 50% from S$1.36 on 20 Jan 2020 to $0.68 on Mar 2020, although it has now recovered to $1.07. With that in mind, investors may wonder if there is still any potential upside. Below, we will provide an analysis and our opinion on Ascott. #1 Portfolio of Ascott Trust Sourced from Ascott Residence Trust 2020 H1 Presentation Slides As seen in the picture above, Ascott has properties across 15 countries and 39 cities. 56 of its properties (63% of its total properties) are in Australasia regions....