SINGAPUR (dpa-AFX) - CapitaLand Ascott Trust (ATTRF, HMN.SI) reported Monday that its first-quarter RevPAU increased 1 percent year-over-year, excluding The Cavendish London or TCL, which is closed for renovation, as well as acquisitions and divestments in 2025.
RevPAU grew 7 percent in Australia from last year and 2 percent in Singapore. But, it fell 24 percent in Japan, 9 percent in United Kingdom and 1 percent in USA.
The first-quarter gross profit was affected by closure of TCL for renovations and closure of Madison Hamburg for part of the quarter for works at the carpark. The property has reopened, and the remaining works are scheduled to be completed in the second quarter.
The result also reflected begative net impact from acquisitions, divestments and other ongoing AEIs, pending deployment of proceeds and completion of AEIs
Distribution income in the quarter remained relatively stable due to distribution of past divestment gains to mitigate the impact of the TCL AEI and Madison Hamburg works, and interest savings from lower interest rates.
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