Amid the gradual reopening of international borders, Ascott Residence Trust (ART) says it is seeing q-o-q recovery in its 3QFY2020 portfolio revenue per available unit (RevPAU), which plunged 70% y-o-y to $47, but increased 27% q-o-q.

In its business update released on Oct 30, ART says 93% of its properties are operational as at Oct 29 with more reopened amid stabilising market conditions.

Average portfolio occupancy for 3QFY2020 stood at 40%, up 10 percentage points from the 30% in 2QFY2020.

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