Parent company of ASAP Operator Member The Ascott Limited (Ascott), CapitaLand Ascott Trust, has announced that the trust’s gross profit rose 4% year on year in the first quarter of 2025.
Gross profit from new properties in the quarter replaced the drop in gross profit from divestments in 2024, including lyf Funan Singapore, acquired on Dec 31, 2024, and Japan hotels ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, both bought on Jan 31, 2025.
In most key markets in the trust’s portfolio, RevPAU for the first quarter of 2025 grew year on year, with its Australian, Singapore, British and American portfolios showing growth of between 1% and 12%. In the US portfolio, hotel RevPAU in the quarter climbed 11 per cent on the year to reach US$160 (S$210), driven by strong leisure demand and an increased proportion of corporate bookings.
