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Global hospitality REIT owning Ascott-branded serviced residences and hotels across Asia-Pacific, Europe and the US.
Global hospitality REIT owning Ascott-branded serviced residences and hotels across Asia-Pacific, Europe and the US.
Income comes from a mix of arrangements: some properties are leased to Ascott with fixed rent plus a share of upside, while others are run under management contracts where the trust keeps the operating profit and pays fees. Formed in 2019 by stapling Ascott REIT to a business trust, with CapitaLand Investment as sponsor.
In one line: A global serviced-residence and hotel REIT (Ascott brand).
Moat: narrow (installed base, brand). Global Ascott-branded serviced residence network with a long operating track record.
Headquarters: Singapore · Founded: 2006
Size CapitaLand Ascott Trust (HMN.SI) is a Singapore Real Estate company (Real Estate Investment Trusts) with a market value of $2.55B, the 42nd largest of 186 Singapore companies the cockpit tracks. Shares closed at S$0.84 on 6 Nov 2026.
Performance Over six months the shares fell 5.6%, against -2.1% for the median peer and -1.2% for the Singapore market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 5.4% over the last twelve months (peer median +6.9%); the operating margin is 33.9% (peer median 39.5%).
Valuation It trades at 0.74× book value against a peer median of 1.31× (3rd cheapest of 21).
Price implies The share price implies a return on equity of about 4.7%; CapitaLand Ascott Trust delivers 6.5%, so the price asks less than the business earns today.
Next results Next results expected around 25 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$876M | S$885M | S$821M | S$796M | S$601M |
| Revenue growth | — | +8% | +3% | +32% | — |
| Gross profit | S$503M | S$619M | S$558M | S$548M | S$210M |
| EBITDA | S$334M | S$379M | S$359M | S$355M | S$234M |
| Net income | S$284M | S$310M | S$227M | S$218M | S$210M |
| Free cash flow | S$147M | S$137M | S$103M | S$49.0M | S$195M |
| Capital expenditure | S$137M | S$109M | S$105M | S$162M | S$12.5M |
| Total debt | n/a | S$3.82B | S$3.81B | S$3.71B | S$3.54B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CapitaLand Ascott Trust HMN.SI | $2.55B | -6% | +5% | 7% | 0.74× | 4.7% |
| CDL Hospitality Trusts J85.SI | $725M | -10% | +4% | -1% | 0.46× | 3.9% |
| Host Hotels & Resorts HST | $16.9B | +15% | +5% | 16% | 2.64× | 22.6% |
| Apple Hospitality REIT APLE | $4.46B | +34% | +1% | 6% | 1.42× | 12.2% |
| Invincible Investment 8963.T | $2.94B | -1% | +10% | 9% | 1.31× | 6.2% |
| Japan Hotel Reit Investment 8985.T | $3.14B | +7% | +15% | 8% | 1.44× | 6.8% |
| Park Hotels & Resorts PK | $3.17B | +39% | -1% | -5% | 1.03× | 12.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HMN.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.0% | +7.2% | 4th lowest of 21 |
| 6-month return | -5.6% | -2.1% | 9th lowest of 21 |
| Return on equity | 6.5% | 4.4% | 9th highest of 21 |
| Price / book | 0.74× | 1.31× | 3rd cheapest of 21 |
| Trailing P/E | 11.4× | 21.3× | 3rd cheapest of 19 |
| ROE the price implies | 4.7% | 10.0% | 2nd least demanding of 21 |
| ROE delivered | 6.5% | 4.3% | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CapitaLand Ascott Trust HMN.SI | Singapore | $2.55B | -6% | +5% | 7% | 0.74× | 4.7% | 6.5% |
| Four Corners Property Trust FCPT | United States | $2.57B | -7% | +10% | 8% | 1.58× | 12.2% | 7.5% |
| Urban Edge Properties UE | United States | $2.58B | -6% | +6% | 8% | 1.95× | 16.9% | 8.0% |
| Dream Industrial Real Estate Investment Trust DIR-UN.TO | Canada | $2.58B | -8% | +6% | 4% | 0.78× | 8.4% | 3.9% |
| LTC Properties LTC | United States | $2.52B | +14% | +69% | 39% | 1.50× | 9.9% | 38.7% |
| Big Yellow BYG.L | United Kingdom | $2.50B | +11% | +2% | 5% | 0.72× | 8.8% | 4.8% |
| InvenTrust Properties IVT | United States | $2.46B | +1% | +13% | 2% | 1.38× | 11.0% | 1.6% |
| Advance Residence Investment 3269.T | Japan | $2.42B | -18% | -4% | 7% | 1.54× | 5.8% | 7.3% |
| Acadia Realty Trust AKR | United States | $2.74B | -9% | 0% | 2% | 1.17× | 11.8% | 1.6% |
| Japan Prime Realty Investment 8955.T | Japan | $2.37B | -7% | -13% | 7% | 1.31× | 5.2% | 6.8% |
| NETSTREIT NTST | United States | $2.37B | -9% | +27% | 1% | 1.18× | 10.0% | 1.3% |
| Frasers Logistics & Commercial Trust BUOU.SI | Singapore | $2.76B | -6% | 0% | 5% | 0.82× | 4.2% | 5.1% |
| Pebblebrook Hotel Trust PEB | United States | $2.36B | +43% | +3% | -3% | 1.01× | 12.2% | -2.8% |
| Dynex Capital DX | United States | $2.77B | -20% | +142% | -2% | 0.98× | 9.6% | -2.0% |
| Sunstone Hotel Investors SHO | United States | $2.33B | +19% | +7% | 3% | 1.42× | 12.8% | 2.7% |
| Hammerson HMSO.L | United Kingdom | $2.80B | +13% | +92% | 11% | 0.90× | 18.4% | 10.6% |
| SmartStop Self Storage REIT SMA | United States | $2.31B | +20% | +21% | 2% | 1.86× | 9.3% | 2.4% |
| Derwent London DLN.L | United Kingdom | $2.87B | +15% | +45% | 1% | 0.62× | 10.0% | 1.4% |
| DiamondRock Hospitality DRH | United States | $2.88B | +30% | +2% | 11% | 1.86× | 16.4% | 10.6% |
| Crombie Real Estate Investment Trust CRR-UN.TO | Canada | $2.22B | -3% | +4% | -3% | 1.70× | 11.5% | -3.2% |
| Invincible Investment 8963.T | Japan | $2.94B | -1% | +10% | 9% | 1.31× | 6.2% | 8.9% |