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Ascott Reit’s Unitholders’ Distribution Increases 7% To S$108.3 Million For Year-To-Date September 2017

October 25, 2017 Serviced Apartments No Comments Email Email

Ascott Residence Trust’s (Ascott Reit) Unitholders’ distribution increased 7% to S$108.3 million for the period 1 January 2017 to 30 September 2017 compared with YTD Sep 2016. Unitholders’ distribution for 3Q 2017 is S$36.3 million.

Distribution per unit (DPU) for YTD Sep 2017 and 3Q 2017 were 5.92 cents and 2.18 cents respectively if they are adjusted to exclude one-off realised foreign exchange gain, the effects of rights issue in March 2017 to fund the acquisitions of Citadines City Centre Frankfurt, Citadines Michel Hamburg and Ascott Orchard Singapore, as well as equity placement in March 2016 to fund the acquisition of Sheraton Tribeca New York Hotel in the U.S.

DPU for YTD Sep 2016 would be 5.66 cents if it is adjusted to exclude one-off realised foreign exchange gain and the effects of the equity placement. This is a 5% increase in DPU from 5.66 cents in YTD Sep 2016 to 5.92 cents in YTD Sep 2017. DPU for 3Q 2016 would be 2.15 cents if the one-off item was excluded. This is a 1% increase in DPU from 2.15 cents in 3Q 2016 to 2.18 cents in 3Q 2017. Without the adjustments, DPU for YTD Sep 2017 would be 5.04 cents and DPU for 3Q 2017 would be 1.69 cents.

Please find the attached news release for your editorial consideration.

Also attached are photos of:

  • Citadines Toison d’Or Brussels in Belgium which was the best-performing market in 3Q 2017 with RevPAU increasing by 43%.
  • Refurbished Ascott Makati. The Philippines was the second best-performing market in 3Q 2017 with RevPAU climbing 17% due to higher demand for the renovated Ascott Makati and Somerset Millennium Makati.
  • Refurbished Somerset Ho Chi Minh City in Vietnam. RevPAU for Vietnam grew 8%, contributed by stronger corporate demand for the refurbished apartments at Somerset Ho Chi Minh City.

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