CapitaLand Ascott Trust’s manager eyes stronger second half amid travel recovery

THE manager of CapitaLand Ascott Trust (Clas) sees upside for its portfolio in the second half, after delivering a “strong” set of results in the first half ended Jun 30.

Serena Teo, chief executive of the manager, said at a results briefing on Friday (Jul 28) that indicators for the second half look positive on a sequential basis, and when considered against H2 2022.

“Demand for accommodation from various leading indicators, as well as what we see, continues to be strong,” she said. “We expect upside in the second half, whether it’s from seasonal demand, (or) contributions from new assets.”