CapitaLand Ascott Trust Q1 distribution income ‘relatively stable’; RevPAU up 1% at S$137
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CapitaLand Ascott Trust reported stable Q1 distribution income, with RevPAU up 1% to S$137. The stability was aided by past divestment gains despite closures for asset enhancements at The Cavendish London and The Madison Hotel Hamburg. Australia led with a 7% RevPAU increase to A$188, while Singapore's rose 2% to S$187, driven by events like the Singapore Airshow. The manager noted a negative impact from acquisitions and ongoing AEIs but expects interest savings from debt repayment to offset income losses. Clas' net asset value per stapled security is S$1.14, with a gearing ratio of 38.9%.
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