CapitaLand Investment Limited (SG:9CI) has released an update.
CapitaLand Ascott Trust (CLAS) has reported a solid 12% increase in gross profit for the first half of 2024, reaching S$172.9 million, driven by a sustained demand for lodging and a strong operating performance. This performance is underscored by a 5% growth in revenue per available unit (REVPAU), indicating a recovery above pre-pandemic levels, particularly led by the Japanese and US markets. Despite the challenges of currency depreciation and ongoing investments, the company has managed a stable distribution per Stapled Security and is focusing on portfolio reconstitution for long-term resilience and growth.
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