Basic Profile & Key Statistics
Performance Highlight
CapitaLand Ascott Trust (CLAS) reported a YoY increase in revenue and gross profit, driven by higher income from existing properties and contributions from newly acquired assets. However, total distribution and DPS declined due to higher finance costs, lower realized exchange gains, and increased tax expenses. Excluding non-periodic exchange gains, core distribution and core DPS saw an improvement.
Revenue per Available Unit
In 4Q 2024, RevPAU improved YoY, reaching 113% of pre-COVID levels. Similarly, 2H RevPAR showed positive growth, indicating strong demand recovery across CLAS’s portfolio.
Acquisition
In December 2024, CLAS acquired lyf Funan Singapore.
Divestment
During 2H, CLAS divested several assets, including Novotel Sydney Parramatta, Citadines Karasuma-Gojo Kyoto, and Infini Garden. Additionally, the divestment of Somerset Olympic Tower Tianjin is expected to be completed in 2Q 2025.