Search

MORE NEWS
FINANCIAL SERVICES | Staff Reporter, Singapore
Published: 24 Oct 12
199 views


Ascott Residence Trust's gains edged up 2% to S$40.7m

Thanks to better overseas performance.

According to OCBC, Ascott Residence Trust’s (ART) 3Q12 revenue increased by 6% YoY to S$77.4m, chiefly due to the contribution of Citadines Shinjuku and Citadines Kyoto, and better performance in the UK and China.

Here's more from OCBC:

Gross profit rose by 2% YoY to S$40.7m. 3Q12 DPU inched up 0.4% to 2.24 S cents. YTD 2012 DPU of 6.76 S cents is in-line with our expectations, forming 77% of our prior FY12 estimate of 8.8 S cents, which we now raise to 8.9 S cents.

The portfolio will be enlarged by the acquisition of Madison Hamburg in 4Q12.

Revenue per available unit (RevPAU) for the serviced residences (SRs) grew by 1% to S$148/day. In the UK, RevPAU grew by 9% YoY to S$228.

The refurbished Citadines Prestige Trafalgar Square commanded higher rates. In China, RevPAU grew by 15% YoY to S$125, partly due to better demand for the refurbished apartments of Somerset Olympic Tower.

There was weakness in France, Australia and Singapore. Revenue and gross profit in France fell 6% and 7% in S$ terms, however, in EUR terms, they had increased by 6% and 4% respectively. 

On a same-store basis, Australia saw RevPAU fall 2%. Singapore's RevPAU dropped 4% arising from the then-impending closure of Somerset Grand Cairnhill on 27 Sep. 

As of Jul 2012, Somerset Salcedo Property Makati was renamed Salcedo Residences after conversion from a master lease arrangement to a management contract.



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Ascott Residence Trust Citadines Shinjuku, Ascott Residence Trust Citadines Kyoto

CO-WRITTEN ARTICLES & SPONSOR CONTENT ››

Supply chain and logistics management business explained.
30 views

Global ethernet services market headed for $50 bn by 2015.
317 views

From humble beginnings to a 50,000 sqft property.
88 views

Find out why 2014 is the best time for you to enter Forex.
150 views

One-stop convention solution is here.
648 views

Its programmes ready graduates for real-world challenges.
143 views

Meet the man behind Singapore’s only automobile manufacturer.
421 views

Why is a holistic curriculum still important?
251 views

Fully furnished, hassle-free office experience.
172 views

Instead of burying their heads in books or articles on effective marketing techniques, advertising executives may want to sit back, relax and surf the web once in a while.
387 views

LATEST FINANCIAL SERVICES JOBS »
PRINT ISSUE »

Subscribe Now
Trains, planes, automobiles and drones

132 views

As goes Hong Kong, so goes Singapore?

1108 views

Office property shows no signs of a slowdown

290 views

MOST READ EXCLUSIVES

Singapore’s 20 hotels with most expensive buffet lunches

Singapore’s 20 hotels with most expensive buffet lunches

What is for lunch?

by KRISANA GALLEZO
6 Jun 2014 | 177203 views
 

Singapore’s 20 most expensive hotel suites

Singapore’s 20 most expensive hotel suites

Guess which tops the list at S$20,000 a night.

by KRISANA GALLEZO
30 May 2014 | 148925 views

Singapore’s 18 MBA programmes under $30,000

Singapore’s 18 MBA programmes under $30,000

The cheapest is at SGD15,000.

by KRISANA GALLEZO
17 Jun 2014 | 107169 views
 

9 most expensive credit cards in Singapore

9 most expensive credit cards in Singapore

The most premium requires $150,000 annual income.

by KRISANA GALLEZO
21 Jul 2014 | 97071 views

Singapore’s 10 most expensive MBA Programmes

Singapore’s 10 most expensive MBA Programmes

The costliest is being offered at over $100,000.

by KRISANA GALLEZO
26 Jun 2014 | 80091 views
 

Singapore’s 10 hottest 40 and under restaurateurs

Singapore’s 10 hottest 40 and under restaurateurs

The list includes a restaurateur as young as 27.

by KRISANA GALLEZO
3 Jul 2014 | 38322 views

Singapore's 7 hot new restaurants in May

Singapore\'s 7 hot new restaurants in May

Have you tried them all?

by KRISANA GALLEZO
5 Jun 2014 | 22991 views
 

Singapore’s 8 hot new restaurants in June

Singapore’s 8 hot new restaurants in June

Have you dropped by to check them out?

by KRISANA GALLEZO
3 Jul 2014 | 22267 views

Korea’s Yoogane to open second outlet in Singapore

Korea’s Yoogane to open second outlet in Singapore

More outlets are soon to come.

by KRISANA GALLEZO
29 May 2014 | 16336 views
 

Pratt & Whitney Singapore office makes you feel like you’re in the outer space

Pratt & Whitney Singapore office makes you feel like you’re in the outer space

Take a sneak peek.

by KRISANA GALLEZO
25 Jun 2014 | 13368 views

Singapore's 8 hot new restaurants in July

Singapore\'s 8 hot new restaurants in July

More Singapore openings from famous restaurants in Asia.

by KRISANA GALLEZO
4 Aug 2014 | 12909 views
 

Towers Watson Singapore’s Spa Room allows staff to regenerate during lazy hours

Towers Watson Singapore’s Spa Room allows staff to regenerate during lazy hours

Also, check out awesome photos of redesigned meeting rooms and clubhouse.

by KRISANA GALLEZO
9 Jul 2014 | 10114 views

Taiwan’s Sufood hit Singapore

Taiwan’s Sufood hit Singapore

Eight more outlets coming in five years.

by KRISANA GALLEZO
12 Jun 2014 | 7317 views
 

Awesome workplace at 501: How's having a meeting while cuddling a teddy bear?

Awesome workplace at 501: How\'s having a meeting while cuddling a teddy bear?

Also check artistically designed in-house locations for video shoots.

by KRISANA GALLEZO
6 Aug 2014 | 6317 views

Check out HSBC’s high-tech flagship branch at Orchard Road

Check out HSBC’s high-tech flagship branch at Orchard Road

It’s digital hub is a star attraction.

by KRISANA GALLEZO
23 Jul 2014 | 4573 views
 

What 3 market leaders can tell you about price comparison sites in Singapore

What 3 market leaders can tell you about price comparison sites in Singapore

Financial price comparison sites face lack of consumer’s confidence.

by KRISANA GALLEZO
10 Jul 2014 | 4093 views

Find out how 3 young men at 20s founded a startup

Find out how 3 young men at 20s founded a startup

At 21, they built a job portal to help young people find their jobs.

by KRISANA GALLEZO
10 Jul 2014 | 3512 views
 

DBS added 1000 more staff in 2013

DBS added 1000 more staff in 2013

It topples UOB to become Singapore's second largest commercial bank.

by KRISANA GALLEZO
22 Jul 2014 | 1887 views

I bet you’ll cry after watching this: Singaporeans say ‘thank you’ to migrant workers

I bet you’ll cry after watching this: Singaporeans say ‘thank you’ to migrant workers

It has been viewed and shared nearly 425,000 times.

by KRISANA GALLEZO
27 Jun 2014 | 1793 views
 

Singapore startup builds world’s first crowdpricing platform

Singapore startup builds world’s first crowdpricing platform

Here’s how you could end up paying less.

by KRISANA GALLEZO
29 May 2014 | 1781 views

Haji Lane welcomes a hippy motorcycle cafe

Haji Lane welcomes a hippy motorcycle cafe

It serves all-day brunches with motorcycle merchandise up for grabs.

by KRISANA GALLEZO
28 Jul 2014 | 1777 views
 

RIP Tiger Mandala: What carrier is next to die?

RIP Tiger Mandala: What carrier is next to die?

See why Singapore based carriers are the least advantaged.

by KRISANA GALLEZO
27 Jun 2014 | 1728 views

Singpost acquires Store House in Hong Kong for $12.2m

Singpost acquires Store House in Hong Kong for $12.2m

Here's how management compares HK's self storage market with Singapore's.

by KRISANA GALLEZO
11 Jul 2014 | 1504 views
 

Might as well say, what the :pluck?

Might as well say, what the :pluck?

Ann Siang Hill and Club Street welcome a new 45-seat dining enclave.

by KRISANA GALLEZO
26 Jun 2014 | 1473 views

The Assembly Ground will choose for you the coffee that best suits you

The Assembly Ground will choose for you  the coffee that best suits you

It’s an Australian concept brought to Singapore.

by KRISANA GALLEZO
18 Jul 2014 | 1413 views
 

KepLand in the spotlight: After Equity Plaza, what's next to sell?

KepLand in the spotlight: After Equity Plaza, what\'s next to sell?

Keppel Land determined to hold its stake in MBFC Tower 3.

by KRISANA GALLEZO
26 Jun 2014 | 1296 views

Take a tour at Potato Head Folk’s whimsical dining enclave

Take a tour at Potato Head Folk’s whimsical dining enclave

Murals on the walls inspired by 1930s children’s books are fascinating.

by KRISANA GALLEZO
10 Jul 2014 | 1292 views
 

See how 99.co plans to pacify exasperated house-hunters in Singapore

See how 99.co plans to pacify exasperated house-hunters in Singapore

Tired of bogus listings?

by CARMINA JARIEL
22 May 2014 | 1263 views

Experience in 3D how your neighborhood will look like if sea levels rise

Experience in 3D how your neighborhood will look like if sea levels rise

This site is hitting almost a million unique visitors already.

by KRISANA GALLEZO
13 Jun 2014 | 1106 views
 

Check out this WhatsApp like program for online chatting

Check out this WhatsApp like program for online chatting

This startup is on its final stages of closing $500,000 fund.

by KRISANA GALLEZO
19 Jun 2014 | 1065 views
close Don't Show Again

STAY INFORMED! Get our free weekly newsletter