Ascott Orchard Singapore — Photo by The Ascott Limited

Ascott Residence Trust (Ascott Reit) registered a strong growth of 30% in Unitholders' distribution for 4Q 2017 to S$43.9 million, as compared to 4Q 2016. Unitholders' distribution for FY 2017 hit a record S$152.2 million, a 13% increase from FY 2016. 4Q 2017 distribution per unit (DPU) remained constant at 2.04 cents on a year-on-year basis.

The increase in 4Q 2017 Unitholders' distribution was due to contribution from Ascott Reit's acquisitions in 2017 as well as one-off distribution of S$6.5 million to Unitholders, which is part of the gain from the divestment of Citadines Biyun Shanghai and Citadines Gaoxin Xi'an in China. FY 2017 Unitholders' distribution included a one-off realised foreign exchange gain of S$11.9 million arising from the repayment of foreign currency bank loans with the proceeds from the rights issue (pending the deployment of funds to part finance the acquisition of Ascott Orchard Singapore).

On a year-on-year basis, revenue for 4Q 2017 increased 6% to S$134.5 million while gross profit for the same quarter also rose 6% to S$61.8 million.

Please find the attached news release for your editorial consideration.

Also attached are photos of:

  • Ascott Orchard Singapore, one of the four properties acquired by Ascott Reit in FY 2017. It is located along Singapore's world-renowned shopping belt Orchard Road.
  • Citadines Sainte-Catherine Brussels in Belgium, the best-performing market in 4Q 2017 with RevPAU increasing by 22%.
  • Somerset Millennium Makati. The RevPAU for the Philippines grew 13% mainly due to increased revenue from the upgraded Somerset Millennium Makati.

The financial statement and presentation are available here.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Joan Tan
Assistant Vice President, Corporate Communications
+65 6713 2864
The Ascott Limited