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Ascott achieves 139% y-o-y growth with contracts secured for record 25 new properties globally amid pandemic
CapitaLand&rsquo s wholly-owned lodging business unit The Ascott Limited announced that it has secured contracts for 25 new properties with over 5,400 units across 19 cities around the world on Wednesday.
This is the largest number of new properties Ascott has secured within the first five months of any year. The contracts have brought a 139% y-o-y increase in the number of units compared to the same period in 2019.
The 25 new properties, which are secured under management contracts, franchise contracts and a lease, expands Ascott&rsquo s geographical reach into four major new cities in China, Indonesia, and Morocco.
Through the new contracts, Ascott will also further strengthen its presence in key cities such as Shanghai, Surabaya, Batam, and Manila.
Ascott has also signed its first rental housing property in Shanghai, China. The segment taps on the growing demand from young, mobile workers as well as returning students from abroad who
are looking to rent quality fully furnished homes in the tier one and tier two cities on a long-term basis in China.
In 2Q20, a quarter of Ascott&rsquo s properties in China have achieved occupancy rates of over 70%.
The properties will open in phases between 2020 and 2024.
In 2020 alone, Ascott opened six new properties in Singapore, China&rsquo s Changsha and Tianjin, Australia&rsquo s Gold Coast, Japan&rsquo s Osaka, and Tours in France.
&ldquo Ascott&rsquo s record signing of 25 new properties globally despite the challenges of COVID-19 demonstrates that our partners recognise the resilience of our lodging products and the value Ascott brings as one of the leading international lodging owner-operators,&rdquo says Kevin Goh, CapitaLand&rsquo s CEO for Lodging and Ascott&rsquo s CEO.
&ldquo We have a strong base of long-stay guests who appreciate the comfort of our spacious apartments where they can live and work. This has enabled our serviced residences globally to maintain robust average occupancy rates. We have already taken steps to ready Ascott to be the accommodation of choice in a post COVID-19 landscape and will continue to cement Ascott&rsquo s position as a dominant lodging player and deliver more value for our guests and business partners,&rdquo he adds.
&ldquo Ascott remains confident in China&rsquo s long-term growth and will continue to seek good investment and partnership opportunities to expand our footprint. Since May 2020, Ascott has fully resumed operations of our properties in mainland China and we are seeing encouraging signs of recovery driven by the country&rsquo s strong domestic demand,&rdquo says Tan Tze Shang, Ascott&rsquo s managing director and head of business development for China.
&ldquo With the implementation of green lanes between China and other countries such as Singapore and Korea, we expect demand for our properties to pick up pace as international travel gradually resumes,&rdquo he adds.
https://www.edgeprop.sg/property-news/ascott-achieves-139-y-o-y-growth-contracts-secured-record-25-new-properties-globally-amid-pandemic
https://www.edgeprop.sg/property-news/ascott-achieves-139-y-o-y-growth-contracts-secured-record-25-new-properties-globally-amid-pandemic
Yes, think that could be the fair values, assuming BAU returns eventually. They own good solid 4star or 5star hotels.
john_ric ( Date: 08-Jun-2020 19:41) Posted:
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Hit high of 1.17 😱
ascot can go to 1.40 lah. cdl Hrieit can go to 1.60.
Contrarian92 ( Date: 08-Jun-2020 16:32) Posted:
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Likewise, $1.14 is a hard nut to crack. Sold half bought at $0.775. Two birds in hand worth ten in bushes.. Good luck to all!
Super strong buying at $1,13.
Go and see the purchases- people are buying 100k-200k lots at one go. Good support
I am vested @ $1.01. Hoping to hold till $1.3.
Dyodd
Go and see the purchases- people are buying 100k-200k lots at one go. Good support
I am vested @ $1.01. Hoping to hold till $1.3.
Dyodd
Very good outlook for Ascott! Do not chase, and hold long term will pay off. Cheers and huat to all
ingapore, 8 June 2020 ? Ascott Residence Trust (ART), the most geographically diversified and largest hospitality trust in Asia Pacific, will be included in the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index) from 22 June 2020.
Ms Beh Siew Kim, Chief Executive Officer of the managers of ART, said: ?We constantly explore ways to enhance the value of ART. Our successful combination with Ascendas Hospitality Trust last year has boosted the scale of ART and enabled us to achieve ART?s inclusion into the FTSE EPRA Nareit Global Developed Index, which was one of the objectives of the combination. Being part of this leading benchmark for listed real estate investment companies and REITs will further raise ART?s profile as the proxy hospitality trust in Asia Pacific, broaden our reach amongst global investors and increase ART?s trading liquidity. With an enlarged investor base, we will have greater financial capacity to further enhance ART?s portfolio. We would like to thank our investors for their support and remain committed to generate long-term value for our stapled securityholders.?
The FTSE EPRA Nareit Global Real Estate Index Series is an international real estate investment index developed by FTSE Group in cooperation with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit). The index series is designed to track the performance of listed real estate companies and REITs worldwide and is seen as the leading benchmark for listed real estate investments. More information is available from FTSE EPRA Nareit?s
Ms Beh Siew Kim, Chief Executive Officer of the managers of ART, said: ?We constantly explore ways to enhance the value of ART. Our successful combination with Ascendas Hospitality Trust last year has boosted the scale of ART and enabled us to achieve ART?s inclusion into the FTSE EPRA Nareit Global Developed Index, which was one of the objectives of the combination. Being part of this leading benchmark for listed real estate investment companies and REITs will further raise ART?s profile as the proxy hospitality trust in Asia Pacific, broaden our reach amongst global investors and increase ART?s trading liquidity. With an enlarged investor base, we will have greater financial capacity to further enhance ART?s portfolio. We would like to thank our investors for their support and remain committed to generate long-term value for our stapled securityholders.?
The FTSE EPRA Nareit Global Real Estate Index Series is an international real estate investment index developed by FTSE Group in cooperation with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit). The index series is designed to track the performance of listed real estate companies and REITs worldwide and is seen as the leading benchmark for listed real estate investments. More information is available from FTSE EPRA Nareit?s
thank you :)
SgYuan ( Date: 08-Jun-2020 10:03) Posted:
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w3 power up to 112
- up 322%
- if uturn w4 start
day ew
- up 322%
- if uturn w4 start
day ew
CIMB Bank just did an analysis and put the target price at $1.21
https://www.businesstimes.com.sg/companies-markets/ascott-residence-trust-to-join-ftse-epra-nareit-global-real-estate-index
In case you guys are wondering why the surge in this share price.. More upside for this counter. Huat to all
In case you guys are wondering why the surge in this share price.. More upside for this counter. Huat to all
i grab very small quantity of Ascott at 0.95
Most of their hotels are overseas which are opening up to international and doemstic travel sooner than Singapore.
Xstriker83 ( Date: 02-Jun-2020 16:29) Posted:
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I had been monitoring the hospitality reits for some time. Finally picked up 76 lots of CDL Hosp over the past week at average of 0.95cts.
Goldfinger ( Date: 02-Jun-2020 16:38) Posted:
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Fearful at 0.92 and didn?t plunge last Friday lol kind of learning for me
Precisely. Under $1 for weeks was a lelong.
Goldfinger ( Date: 02-Jun-2020 16:46) Posted:
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Have to remember that Ascott hotels are 5 stars in most markets, top of the range serviced apartments and hotels. Do they really deserve to be sold at half-price?
Hospitality REITS like Ascott and CDLHT were so beaten down and trampled in the COVID panic, that people lost their heads and forgot that COVID will be over eventually. Price to Book was like 0.5 for these counters until recently. Like hotels selling for half-price. Bloggers also waxed lyrical that they would be struggling - not sure if some of these were for selfish reasons to accumulate.
Anyway, I ignored and accumulated more of these counters.
Anyway, I ignored and accumulated more of these counters.