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Ascott REIT: New York Acquisition Lifts 1Q 2017 Revenue By 5% To S$111.3 Million.
21 Apr 2017 10:08
Ascott Residence Trust's revenue for 1Q 2017 grew 5% to S$111.3 million, mainly contributed by its acquisition of Sheraton Tribeca New York Hotel in 2016. Revenue per available unit notched up 2% to S$128, due to higher average daily rate from Sheraton Tribeca New York Hotel. Unitholders' distribution for 1Q 2017 was S$25.1 million and distribution per unit was 1.51 cents. For a same-store comparison, DPU for 1Q 2017 would be 1.64 cents if it is adjusted to exclude Ascott Reit's equity placement in March 2016 to fund the acquisition of Sheraton Tribeca New York Hotel as well as contribution from the hotel. DPU for 1Q 2016 would be 1.57 cents if it is adjusted to exclude a one-off net realised exchange gain and the equity placement. This represents a 4% increase in DPU from 1.57 cents in 1Q 2016 to 1.64 cents in 1Q 2017...
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Source: ShareInvestor Express
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