, Singapore
Stock photo. Credits to Unsplash.

Capitaland Ascott Trust reports RevPAU up by 88%

An increase in occupancy and average daily rates boosted RevPAU.

Capitaland Ascott Trust saw its RevPAU (portfolio revenue per available unit) increase by 88% YoY due to higher occupancy and average daily rates (ADR).

Q3 2022 gross profit surged by 90% of third-quarter 2019 pro forma levels due to higher contributions from growth income sources, which comprised management contracts of serviced residences and hotels. 

Excluding the contributions from the 8 properties, same-store gross profit rose 70% YoY. China and Singapore recorded the strongest QoQ growth of 28% and 27% respectively. Australia and USA continued to perform at close to pre-Covid levels 

Stable income sources, including those from master leases, longer-stay properties, and management contracts with minimum guaranteed income contributed 56% of the gross profit in Q3. 

Looking ahead, Capitaland said it expects to benefit from improving outlook for travel as well as increased demand for accommodation. It noted that travel bookings for Japan, which is a key market for the company, have fully reopened to foreign travellers.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!