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ART’s 3Q21 shows steady recovery powered by domestic leisure demand: UOB Kay Hian

Atiqah Mokhtar
Atiqah Mokhtar11/9/2021 09:48 AM GMT+08  • 2 min read
ART’s 3Q21 shows steady recovery powered by domestic leisure demand: UOB Kay Hian
UOB Kay Hian highlights that ART's portfolio RevPAU rebounded 8% q-o-q to $70 in 3Q21, driven by domestic leisure demand.
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UOB Kay Hian analyst Jonathan Koh is upbeat on Ascott Residence Trust (ART) following its 3QFY2021 ended September business update released on Oct 29.

In a Nov 2 research note, Koh highlights that ART’s portfolio revenue per average unit (RevPAU) rebounded 8% q-o-q to $70 in 3QFY2021, driven by domestic leisure demand in markets such as Europe, the UK and the US.

“Japan also benefitted from group bookings during the Olympics Games,” he notes.

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