Operations Review United Kingdom (UK) is one of CLAS’ key markets, contributing about 12% of the total gross profit for FY 2024. CLAS owns five properties in the UK, all of which are under MCMGI. The Cavendish London is a 230-unit leasehold hotel in the exclusive Mayfair high-end shopping district of central London. The property is a five- to 10-minute drive from iconic attractions including Buckingham Palace, Big Ben, West End theatre, Piccadilly Circus and Hyde Park. The other four properties are freehold serviced residences located in London. Citadines South Kensington London is a 92-unit property situated close to embassies and the renowned shopping and dining districts of Chelsea and Knightsbridge. Citadines Barbican London is a 129-unit property situated close to the Barbican Arts Centre and Museum of London. Citadines Holborn-Covent Garden London comprises 192 units and is centrally located, close Key Market United Kingdom to the financial district of London. Citadines Trafalgar Square London is a 187-unit serviced residence located near key tourist attractions including Trafalgar Square, the National Gallery and River Thames. CLAS’ five UK properties have an average length of stay of less than one month. OPERATIONAL UPDATES The number of inbound visits to the UK is forecasted to reach 38.7 million in 2024, 2% higher than in 20231. In 2024, UK hotels experienced a trend of normalisation following the high growth in 2022 and early-2023, as travel seasonality returned and booking lead times shortened. For the full year of 2024, the industry RevPAR of hotels in the UK increased by 3.2% YoY1. 1 Source: VisitBritain (2024 and 2025) Properties 5 Total Revenue (FY 2024) S$94.3M Total Gross Profit (FY 2024) S$42.6M Units 830 Valuation (as at 31 December 2024) S$932.2M Featured property: Citadines Holborn-Covent Garden London, United Kingdom 36 CapitaLand Ascott Trust
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