In 1QFY2023, CLAS reported revenue per available unit (RevPAU) of $127, 90% higher y-o-y, on higher occupancies and room rates. The quarter’s RevPAU also stood at 93% of the pro forma RevPAU in 1QFY2019, which includes the performance of Ascendas Hospitality Trust’s portfolio. The merger with Ascendas Hospitality Trust was completed on Dec 31, 2019.
In its business update for the 1QFY2023 ended March 31, CapitaLand Ascott Trust (CLAS) (SGX:HMN
) reported a 59% y-o-y increase in its gross profit, although no numbers were mentioned. The higher gross profit was due to a stronger operating performance and contributions from CLAS’s new properties during the quarter. Excluding its new properties, CLAS’s gross profit rose by 53% y-o-y.
During the quarter, 59% of CLAS’s gross profit was contributed by stable income while 41% was contributed by growth income. The higher proportion of stable income in the 1QFY2023 compared to 4QFY2022 was due to the first quarter being a seasonally softer quarter for transient travel.
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