• Proposed acquisition is 1.8% accretive to Distribution per Stapled Security (DPS)
• Two existing CLAS properties in central Sydney and London to undergo asset enhancement initiatives (AEIs) with estimated yields on AEI cost of approximately 11%
• Property value of the two existing properties and new acquisition in London expected to increase by S$385.5 million after AEIs and stabilisation
Distribution per Stapled Security grew 19% to 2.78 cents in 1H 2023. Portfolio revenue per available unit (REVPAU) increased 44% in 1H 2023 on robust lodging demand.
Distribution per Stapled Security (DPS) rose to 5.67 cents on stronger operating performance in FY 2022; excluding one-off items, DPS increased 106% year-on-year. Achieved gross fair valuation gain of S$200 million with better operating performance and outlook for properties.
Yield-accretive acquisition of the nine properties is expected to enhance ART’s income resilience and consolidate its position as Asia-Pacific’s largest hospitality trust.
Expands lyf brand with the opening of Ascott’s first lyf property in Australia, lyf Collingwood Melbourne, and the eighth lyf property to open globally.
Secures 58 new franchise and management contracts to add over 12,500 units across Asia Pacific, Europe, Middle East and Africa. Continues to grow fee income through lodging operations.
Biggest winner at the World Travel Awards 2021 with a total of 28 accolades; the greatest number of awards won amongst serviced residence companies. Celebrates win with launch of ‘Thank You’ campaign to give away 28 million Ascott Star Rewards bonus points to members.
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