CapitaLand Ascott Trust (CLAS), associated with ASAP Operator Member The Ascott Linited (Ascott), has increased its distribution per Stapled Security (DPS) for FY 2023 by 16% year-on-year to 6.57 cents.
The rise was due to stronger operating performance and contributions from 18 new acquisitions.
CLAS’ gross profit for 2H 2023 rose 12% y-o-y to S$183.9 million compared to 2H 2022., 106% of pre-pandemic levels. Markets with valuation gains include Australia, Europe, Japan, Singapore and United Kingdom.
Ms Serena Teo, Chief Executive Officer of the Managers of CLAS, said: “Through our active portfolio reconstitution and AEI, we are enhancing the quality of our portfolio to create further value for Stapled Securityholders. We have eight properties undergoing or will undergo AEI. The AEI is expected to uplift the value of the properties post completion. Looking ahead, the diversification of CLAS’ portfolio across geographies, lodging asset classes and contract types will continue to provide income stability.”
Picture (CapitaLand Ascott Trust – CLAS): The Robertson House by The Crest Collection. It is one of eight properties in CLAS’ asset enhancement initiative (AEI) pipeline. The property was rebranded and unveiled in October 2023 and the AEI is on track for full completion in 1Q 2024.
