THE MANAGERS

Overview

Ascott Residence Trust (ART) is a stapled group comprising Ascott Real Estate Investment Trust (Ascott Reit) and Ascott Business Trust (Ascott BT) pursuant to a Stapling Deed dated 9 September 2019 and each Stapled Security consists of one Ascott Reit unit and one Ascott BT unit and is treated as a single instrument.

ART is managed by Ascott Residence Trust Management Limited (as manager of Ascott Reit) and Ascott Business Trust Management Pte. Ltd. (as trustee-manager of Ascott BT). Both the managers (Managers) are wholly-owned subsidiaries of Singapore-listed CapitaLand Limited. The Managers are responsible for the management and administration of ART and the implementation of ART's strategy.

CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. For more information, please visit http://www.capitaland.com.

Strategy

The Managers intend to implement the investment strategy of ART in accordance with the following guidelines:

Investment portfolio primarily in income-producing real estate and real estate-related assets which are used, or predominantly used as serviced residences, hotels, rental housing properties and other hospitality assets in any country in the world.

Investments will generally be for the long-term.

The Managers will implement the principal investment strategy of ART in accordance with the Monetary Authority of Singapore’s Property Funds Guidelines, Business Trust Act, the Trust Deeds and Stapling Deed and any other applicable laws.

Vision and Mission

Our Vision: To be the premier hospitality real estate investment trust with quality assets in key global cities.

Our Mission: To deliver stable and sustainable returns to Stapled Securityholders.

The Managers plan to achieve the above through the following strategies:-

  • Growth by Acquisition: Selectively acquiring properties that meet the Managers’ investment criteria;
  • Active asset management of assets: Actively managing the property portfolio of ART to maximise returns through organic growth;
  • Unlocking value: Seeking divestment opportunities for properties that have reached the optimal stage of their life cycle and redeploying divestment proceeds into higher yielding assets;
  • Prudent capital and risk management: Employing appropriate capital financing and hedging strategies to manage interest rate and foreign and exchange risks; and
  • Leveraging sponsor: Tapping on the expertise of the Sponsor, The Ascott Limited, as an owner-operator in the lodging industry, and leveraging its brands and operating platforms which include, amongst other things, sales network and digital initiatives.