Ascott Residence Trust (Ascott Reit) says it achieved a unitholders’ distribution of $11.5 million and distribution per unit (DPU) of 1.87 cents from Oct 1 to Dec 31.
This is an increase of 12% and 11% respectively from the same period last year.
Revenue slipped 2% to $46.1 million while gross profit rose 7% $21.9 million. Revenue Per Available Unit (RevPAU) fell 7% to $124 per day.
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, is marking its entry into the Eastern European market with the opening of Citadines Tbilisi Freedom Square in Tbilisi, Georgia, the first international serviced residence in the country.
Kim Eng Research in a Dec 15 research report says: “Marina Bay Sands have signed up events for its Sands Expo and Convention Centre that will attract more attendees than its 2500-room hotel can accommodate. Tourist arrivals to Singapore in October have continued its uptrend while occupancy was at 83%.
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has clinched a contract to manage Citadines Xi’an Xingqing Palace, its third serviced residence in Xi’an, China.
Ascott’s two other serviced residences in Xi’an are Citadines Xi’an Central, which is currently operational and Citadines Xi’an Gaoxin, due to open in 2010.
The Ascott, CapitaLand’s wholly-owned serviced residence business unit, has opened Ascott Raffles City Beijing, its fifth serviced residence in the Chinese capital.
Housed within the Raffles City complex, one of five in China, gives residents of Ascott Raffles City Beijing the convenience of working, shopping and dining under one roof.
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Group Limited (Ascott), has opened its second Citadines serviced residence in Germany.
Citadines Munich Arnulfpark marks Ascott’s entry into the Bavarian capital of Munich and complements Ascott’s other property in Germany, namely Citadines Berlin Olivaer Platz.
Ascott Residence Trust (Ascott REIT) says it achieved a unitholders’ distribution of $11.8 million and DPU of 1.92 cents for the quarter ended Sept 30, 2009.
Ascott REIT’s annualised distribution yield is 6.7% based on the closing price of $1.09 per unit on October 27, 2009.
Ascott Residence Trust, the owner of serviced apartments across Asia, said a wholly-owned unit has established a $1 billion multicurrency medium-term note programme. DBS Bank has been appointed as arranger and dealer of the programme, Ascott said in a statement today.
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