Ascott REIT's Q1 results hit by weak corporate demand in Singapore

Submitted By:  Danielle Isaac Case Study:  No Revenue per available unit fell 7%, causing the surprise of some analysts. Ascott REIT's revenue per available unit (RevPAU) for its Singapore assets fell 7% YoY in Q1 after a 6% YoY increase in Q4. OCBC Investment Research said the fall "took us by surprise." Analyst Deborah Ong said, "From what we understand, tighter restrictions on employment pass issuance and generally less corporate travel has affected the demand for long-term stays. Going forward, management still remains cautious on corporate demand locally." read more