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Ascott Residence Trust
Annual Report 2015
Portfolio Overview
Competitive Strengths of our Properties
Location
Ascott Reit’s 60 serviced residences and 29 rental
housing properties are located in key gateway cities
across Singapore, Australia, Belgium, China, France,
Germany, Indonesia, Japan, Malaysia, the Philippines,
Spain, the United Kingdom, the United States of
America and Vietnam. The properties are well served
by public transportation and within walking distance
to amenities such as restaurants and supermarkets.
In Japan, 19 of the rental housing properties are
located in Tokyo while the remaining 10 rental
housing properties are located in cities outside of
Tokyo, namely Fukuoka, Hiroshima, Kyoto, Osaka,
and Sapporo.
Brands
Four serviced residences are managed under the
Ascott brand, 15 are managed under the Somerset
brand while 36 are managed under the Citadines
brand. In Japan, the rental housing proper ties
are managed under the local brands. All serviced
residences are managed by Serviced Residence
Management Companies (SRMCs), with the exception
of Element New York Times Square West, Madison
Hamburg, Quest Sydney Olympic Park, Quest Mascot
and Quest Campbelltown, which are managed by
third-party operators in their respective brands.
Scale
The Ascott Limited (Ascott) is the largest international
serviced residence owner-operator. Its strong global
brand and over 30-year industry track record enables
our properties to enjoy worldwide recognition as
the preferred accommodation for extended-stay
business travellers. Through a combination of serviced
residence and rental housing units, Ascott Reit’s
portfolio of 11,298 apartment units cater to a wide
range of customer needs. These include studio, one
to three-bedroom, and penthouse apartment units.
We leverage on Ascott to achieve economies of scale,
benefitting from its global recognition, international
sales, wide distribution and marketing networks and
centralisation of key functions such as finance and
procurement.
Awards
In 2015, Ascott Reit was conferred “Best REIT” in Asia
by World Finance at its annual Real Estate Awards.
This award signifies a vote of confidence by investors
as Ascott Reit was nominated and assessed on
its growth, income stability and global presence.
In addition, our award winning properties continue
to enjoy worldwide recognition as the preferred
accommodation for business and leisure travellers
alike. These include the World Travel Awards 2015
where Citadines Suites Louvre Paris and Citadines
Ramblas Barcelona were awarded the titles of
“Leading Serviced Apartments” in France and Spain
respectively, while Ascott Makati, Ascott Raffles Place
Singapore and Citadines Sainte-Catherine Brussels
retained their titles attained in 2014.
Our Extended-Stay Business Model
Our guest base comprises mainly expatriates’
relocation, corporate assignments, project groups
and extended-stay. Corporate travel, which is driven
by long-term macroeconomic factors such as Gross
Domestic Product (GDP) growth and Foreign Direct
Investment (FDI), is generally more stable than the
seasonal nature of tourism travel. Our flexible business
model provides short to long-term accommodation.
The average length of stay for properties on serviced
residence management contracts is approximately
four months, while rental housing properties with
leases averaging one to two years offer greater income
stability to the portfolio. Shorter-term stays also
presents opportunities for yielding growth and higher
operating margins. For Ascott Reit, income stability
is also supported by master leases and serviced
residence management contracts with minimum
income guarantee.
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
