Ascott Reit DPU up 5% in Q4; hospitality Reit eyeing opportunities in Australia, Europe, US

Singapore

ASCOTT Residence Trust (Ascott Reit) unitholders can look forward to a distribution per unit (DPU) of 2.15 Singapore cents on Feb 28.

The DPU for the fourth quarter ended Dec 31, 2018 represents a 5 per cent increase from the 2.04 Singapore cents distributed in the year-ago period.

This came as unitholders' distribution went up 6 per cent to S$46.5 million in Q4 from the previous year, which included a one-off partial distribution of divestment gain of S$6.5 million.

Revenue notched up two per cent to S$136.5 million, mainly due to additional revenue of S$0.4 million from the full quarter contribution from Ascott Orchard Singapore which was acquired in Oct 2017, and higher revenue from existing properties, partially offset by a drop in revenue of S$1.1 mil…