PORTFOLIO OVERVIEW QUALITY ASSETS MANAGED BY BEST-IN-CLASS OPERATORS CLAS’ Sponsor, The Ascott Limited (Ascott), one of the leading international lodging owner-operators with 40 years of industry track record and award-winning brands that are recognised worldwide, manages most of the serviced residences within the CLAS portfolio. Ascott’s serviced residence, coliving and hotel brands include Ascott, Citadines, lyf, Quest, Somerset and The Crest Collection, among others. A number of CLAS properties were recognised as ‘Leading Serviced Apartments 2023’ by the World Travel Awards 2023, namely Ascott Makati, Citadines Arnulfpark Munich, Citadines Ramblas Barcelona and Citadines Sainte-Catherine Brussels. lyf one-north Singapore was also awarded the Co-living Excellence Award in EdgeProp Singapore Excellence Awards 20233. Other third-party operators we engage include Accor, IHG, Marriott and Sotetsu, with properties operating under their established brands such as Pullman, Novotel, Sheraton, voco and Sotetsu Grand Fresa. PORTFOLIO INFORMATION BY LENGTH OF STAYi (Portfolio Apartment Rental Income) 3 For the full list of awards won by Ascott, please refer to www.discoverasr.com/en/the-ascott-limited/awards. 2018 2019 2020 2021 2022 2023 Average Length of Stay 61% 13% 8% 4% 14% 45% 19% 12% 4% 20% 62% 12% 8% 3% 15% 62% 9% 7% 14% 8% 64% 9% 7% 12% 8% 39% 16% 11% 17% 17% n More than 12 months n 6 to 12 months n 1 to 6 months n 1 week to 1 month n Less than 1 week i Historical information is prepared for illustrative purposes only and are not guarantees of future performance. Portfolio information excludes properties on master leases and properties under development. lyf one-north Singapore Growth Income For FY 2023, approximately 44% of CLAS’ gross profit was from growth income sources, which are management contracts of serviced residences and hotels. Management Contracts of Serviced Residences and Hotels Under a management contract without minimum guaranteed income, the income stream to CLAS is dependent on the operating performance of the property. In a market upturn, properties under management contracts provide the greatest growth potential. 36 of our operating serviced residences and hotels across Australia, China, Indonesia, Japan, Malaysia, the Philippines, Singapore, USA and Vietnam are on management contracts. Note: A waiver from the Monetary Authority of Singapore was obtained in relation to paragraphs 11.1(c) (iv) and (v) of the Property Funds Appendix regarding the disclosures of lease maturity profile and weighted average lease expiry for properties under management contracts, subject to the following disclosures: (1) the average length of stay of guests of properties under the management contracts (combined for both management contracts with and without minimum guaranteed income) for current year and past five years; and (2) the weighted average remaining term of the MCMGI. 3 months 3 months 3 months 4 months 3 months 2 months 28 CAPITALAND ASCOTT TRUST
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