SINGAPORE (Nov 1): The manager of Ascott Residence Trust (Ascott REIT) has reported 3Q18 distribution per unit (DPU) of 1.82 cents, rising 8% from 1.69 cents in 3Q17 on higher revenue.  

Revenue for the quarter grew 6% to $134.5 million from a year ago, mainly underpinned by additional revenue from Ascott Orchard Singapore and DoubleTree by Hilton Hotel New York – Times Square South that were acquired in 2017, as well as higher revenue from existing properties.

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