Investor Presentaiton
Singapore
Strong performance across all properties, driven by international demand and citywide events
17% of total assets, 11% of 2H 2022 gross profit: 2 SRs and 1 hotel under management contracts;
1 SR under management contract with minimum guaranteed income (MCMGI); 1 SR under development
RevPAU (SGD)
+178%¹
Includes AOS
691
under MCMGI
from Dec
65
2022
4Q 2021
1921
158
4Q 2022
Management Contracts – SRs & Hotel
.
.
.
-
2H 2022 revenue and gross profit were 255% and
460% higher y-o-y respectively, due to contribution
from lyf one-north Singapore (LONS) which
commenced operations in phases from Nov 2021, and
full half-year contribution from Riverside Hotel
Robertson Quay (RHRQ) in 2H 2022
Properties reflected strong performance driven by
international demand from both corporate and
leisure segments, with citywide conferences and
large-scale events providing a further boost
On a same-store basis¹, 4Q 2022 RevPAU for
Citadines Mount Sophia Singapore (CMSS) was
178% higher y-o-y as the property transited out of a
block booking from Apr 2022 and 8% higher q-o-q at
S$192, surpassing 4Q 2019 same-store RevPAU²
by 13%
•
RHRQ will undergo renovation and rebranding to
The Robertson House, under The Ascott Limited's
(TAL) The Crest Collection brand from 1H 2023; TAL
will bear key money and has undertaken to pay a
minimum guaranteed income post-renovation
Ascott Orchard Singapore (AOS)
•
Under its master lease which expired in Nov 2022,
2H 2022 revenue and gross profit for AOS were 27%
and 36% higher y-o-y respectively, due to stronger
performance resulting in the recognition of variable
rent in addition to fixed rent
Upon expiry, the master lease for AOS was
converted to MCMGI, which offers greater upside
potential for CLAS
Notes:
1.
2.
Pertains to CMSS only
Excluding Somerset Liang Court Singapore which was divested in Jul 2020
CapitaLand Ascott Trust
Investor Presentation
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