$Ascott Trust(HMN.SI)$ Ascott Residence Trust(ART) is currently experiencing green shoots of recovery from the devastating effects of the Covid-19 pandemic.
ART is the largest hospitality Trust in Asia Pacific with an asset value of SGD7.3 Billion as at 30 June 2021. Art's objective is to invest primarily in income producing real estate and real estate related assets which are used as serviced residences, rental housing properties, student accommodation and other hospitality assets in any country in the world.
ART's International portfolio comprises 89 properties with about 17000 units in 39 cities across 15 countries in Asia Pacific, Europe and USA as at 30 September 2021.
ART is a wholly owned subsidiary of the newly formed Capitaland Investment Ltd.
The latest 3Q 2021 ART earnings report showed that ART had 5th consecutive quarter of recovery whose momentum is driven primarily by huge local demand. The Revenue Per Available Room has risen by 49% year on year and 8% quarter on quarter in 3Q2021.
The latest dividend paid was 0.545 cents per unit.
ART won the 1st prize in Global Sector Leader - Hotel Award under the Singapore Governance and Transparency Index 2021.
Gearing ratio is 35.3%
Weighted Average Debt to Maturity is 2.9 years.
Good cash management at SGD1. 13 billion comprising of SGD430 million cash on hand and SGD700 million in available credit facilities.
I intend to hold ART long term as it has a great management team backed by Temasek Holdings. $Ascott Trust(HMN.SI)$will continue to grow exponentially as it has a diversified portfolio of predominantly long stay properties and has a huge presence in large domestic markets around the world. The signs are very clear pointing to a strong rebound in international travel with global search volumes growing 70% in 2nd quarter 2021. More countries are also reopening their international borders to vaccinated travellers.
$Ascott Trust(HMN.SI)$ will continue to form an integral part of my diversified portfolio.
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