RevPAU in China for the third quarter dropped by 30 per cent on the year to 321 yuan , although its 60 per cent portfolio occupancy was above market levels. ART has received"healthy enquiries for long stays and strong demand for leisure travel on weekends and holidays", the managers said.
Ascott Orchard Singapore, which is now serving staycation, long-stay and self-isolation guests, could receive a boost from the city-state's domestic tourism drive, ART's managers said. Block bookings from Australia's government, military and healthcare workers provided some support, and such bookings are expected to continue into the fourth quarter of this year.
More than S$1 billion in financing is available, including some S$305 million cash on hand and about S$550 million in credit facilities. ART will also receive about S$180 million in net divestment proceeds from its ongoing sales of Ascott Guangzhou, Citadines Didot Montparnasse Paris, Citadines Xinghai Suzhou and Citadines Zhuankou Wuhan.
The managers will review ART's distribution payout"holistically", taking into account the market outlook and past divestment gains unlocked.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S’pore’s recovery from downturn set to take 18 months, twice as long as earlier recessions: EconomistsSINGAPORE — Economists expect the economy to take at least six quarters — 18 months — to recover from the current downturn, double the time it took in previous recessions. 18 months? From when? No. It will take much longer. 18 years is more accurate.
Source: TODAYonline - 🏆 1. / 99 Read more »
Labour market expected to rebound amid weak, uneven recovery: MASSINGAPORE'S reopening of the economy should result in labour market improvements before the year's end. But recovery is likely to be weak, long-drawn and uneven, with elevated levels of resident unemployment lasting into 2021. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
COVID-19 downturn to be more prolonged than past recessions, slow recovery for jobs market: MASSINGAPORE: The ongoing economic crisis caused by the COVID-19 pandemic is “deeper and likely to be more protracted” than past recessions, the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
The Straits Times revamp: Staying trusted, timely and trueExpect a richer experience as ST launches new print and digital offerings.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Cricket: Players can't stay in 'bubbles' too long, says ECB's GilesThe England and Wales Cricket Board (ECB) will monitor players' mental health and try to limit the amount of time they spend in bio-secure bubbles ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore’s central bank sees ‘gradual and uneven’ recoverySingapore’s recovery from the coronavirus recession is likely to be “gradual and uneven,” with firms and households restraining spending, the central bank said.
Source: YahooSG - 🏆 3. / 71 Read more »