CapitaLand Ascott Trust’s gross profit up by 6% YoY in H1

The group’s revenue also increased by 3% YoY for the same period.

CapitaLand Ascott Trust (CLAS) saw its gross profit increase by 6% YoY in H1 2025, reaching $182.5m. Its revenue also achieved a 3% increase YoY to $398.5m for the same period.

In their announcement, CLAS said the higher gross profit and revenue were mainly attributed to stronger operating performance, the group’s portfolio reconstitution strategy, and asset enhancement initiatives (AEI).

CLAS also registered a 3% increase in its revenue per available unit (REVPAU) in H1 2025, compared to the same period last year. Most of the group’s key markets registered REVPAU growth.

Driven by the operating performance of the portfolio, CLAS’ total core distribution in H1 2025 increased by 1% YoY to $91.6m. Total distribution remained at $96.5m.

Distribution per stapled security (DPS) and Core DPS remained relatively stable at 2.53 cents and 2.40 cents, respectively. CLAS is committed to distributing stable core distributions, through enhancing core distribution income from operating performance and distributing non-periodic and/or divestment gains when appropriate.

CLAS reported that it completed six AEIs in 2024. In 2025 and 2026, it will undertake three additional AEIs, on top of The Cavendish London in the United Kingdom and Sydney Central Hotel in Australia which were announced previously.

The three additional properties are ibis Ambassador Seoul Insadong in South Korea, Citadines République Paris in France, and Sotetsu Grand Fresa Osaka-Namba in Japan.

CLAS is also redeveloping its 192-unit Somerset serviced residence at Clarke Quay in Singapore. Development work is slated for completion in 2026, with the property commencing operations in 2027.

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