Ascott Reit Financial Results Ending 31 Mar 2017

“Ascott Reit remains focused on providing Unitholders with stable returns and are constantly on the lookout for quality assets to enhance our portfolio. Sheraton Tribeca New York Hotel, which we acquired last year, continues to achieve above 90% occupancy. Ascott Reit’s recent successful rights issue was 182% oversubscribed. We will use the proceeds to acquire Citadines City Centre Frankfurt, Ascott Reit’s first property in the city, Citadines Michel Hamburg, and Ascott Orchard Singapore. These properties are expected to further strengthen Ascott Reit’s portfolio, increase our earnings base, and give us stable income through master leases.”

Mr Bob Tan, Chairman

Pin It on Pinterest