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Ascott Residence Trust reports RevPAU of $67 in 1QFY2022, up 22%

Felicia Tan
Felicia Tan4/29/2022 09:06 AM GMT+08  • 4 min read
Ascott Residence Trust reports RevPAU of $67 in 1QFY2022, up 22%
lyf One North. Photo: ART
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Ascott Residence Trust (ART) has reported a portfolio revenue per available unit (RevPAU) of $67, 22% higher y-o-y during the 1QFY2022 ended March. The higher figure was driven by higher average daily rates (ADR) and occupancy, says its manager.

Revenue and gross profit increased y-o-y due to contributions from the trust’s newly-acquired properties and its stronger operating performance.

During the quarter, the REIT saw higher stable income contribution as it received its first full-quarter of income contribution from four US properties acquired in the 4QFY2021.

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