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Ascott Residence Trust reports continued recovery in 1Q21 business update

Atiqah Mokhtar
Atiqah Mokhtar4/29/2021 08:08 AM GMT+08  • 3 min read
Ascott Residence Trust reports continued recovery in 1Q21 business update
Ascott Residence Trust's RevPAU climbed 10% q-o-q to $55.
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The manager of Ascott Residence Trust (ART) says the 1QFY2021 ended March saw improvement in ART's operating performance despite a seasonal lull.

In its business update dated April 29, the manager reported portfolio revenue per available unit of properties (RevPAU) climbed 10% q-o-q to $55, supported by block bookings, domestic leisure demand and a gradual pick-up in corporate activity from March.

On a y-o-y basis, RevPAU was 47% lower than the previous year’s 1Q.

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