ASAP Operator Member The Ascott Limited (Ascott) is a wholly owned subsidiary of CapitaLand Limited.
CapitaLand Ascott Trust (CLAS) has reported a 12% increase in gross profit for the first half of 2024, at S$172.9 million, driven by a sustained demand for lodging and a strong operating performance.
As demand for international travel continued to increase, CLAS’ revenue per available unit (REVPAU) for 1H 2024 grew 5% to S$145, compared to 1H 2023. This exceeds pre-pandemic levels, and was a result of higher room rates, with key markets Japan and United States of America (USA) leading the growth.
Pictured: In 1H 2024, CLAS completed asset enhancement initiatives (AEI) for four properties, including La Clef Tour Eiffel Paris (pictured). Four more properties are undergoing and one serviced residence is under development. The initiatives, when completed, are expected to uplift CLAS’ distribution income. Credit: ‘CapitaLand Ascott Trust’
