/ Posted on 12 April, 2021 8:50
The rise of remote working has fuelled an appetite for extended stays among travellers seeking to escape from work-from-home routines. With that, hospitality players and destinations are adapting their offerings to tap on the longer-stay trend. By Cheryl Ong.
With the global pandemic changing how people work, travel and live, the remote working trend continues to gather pace, with pristine beaches, expansive villas and even national parks being pitched as temporary workspaces to a rising breed of digital nomads.
Accommodation across the globe have reported longer-stay bookings fuelled by a rising tide of travellers looking for an escape from lockdown fatigue or a change in work scenery.
Ascott Residence Trust reports 52% lower DPS of 1 99 S cents for H2 businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
ASCOTT RESIDENCE TRUST POSTS DISTRIBUTABLE INCOME OF S$61.7 MILLION IN 2H 2020 AND S$94.2 MILLION IN FY 2020
Industry:
(TRAVPR.COM)
SINGAPORE -
January 27th, 2021 - Ascott Residence Trust (ART) posted a distributable income of S$61.7 million in 2H 2020 and S$94.2 million in FY 2020 amidst the COVID-19 pandemic. The distributable income for 2H 2020 is a 32% decline compared to 2H 2019. To mitigate the impact of COVID-19, replace loss income from divested assets and to share past divestment gains with Stapled Securityholders, a one-off partial divestment gain of S$40.0 million will be distributed to Stapled Securityholders. ART also released the S$5.0 million of distributable income which was retained in 1H 2020. Distribution per Stapled Security (DPS) for 2H 2020 is 1.99 cents, a 52% decrease compared to 4.18 cents in 2H 2019.
ASCOTT RESIDENCE TRUST FORAYS INTO THE STUDENT ACCOMMODATION ASSET CLASS WITH FIRST ACQUISITION IN THE USA FOR US$95 MILLION
Industry:
(TRAVPR.COM)
SINGAPORE -
January 27th, 2021 - Ascott Residence Trust (ART) will foray into the student accommodation asset class with its first acquisition in the United States of America (USA) for US$95 million (S$126.3 million). The purpose-built student accommodation asset, Signature West Midtown, is a freehold property with 525 beds across 183 units located in the heart of Atlanta, Georgia. The transaction is expected to be completed by end 1Q 2021. In conjunction with the acquisition, ART will expand its investment mandate to include student accommodation. The accretive acquisition will increase the pro forma FY 2020 Distribution per Stapled Security (DPS) by approximately 4.4%.