Broker Name: DBS Bank Ltd

Date of Report: 7 Dec 2025

Excerpt from DBS Bank Ltd report.

Report Summary

• Singapore hotel sector faces supply-driven headwinds, with fresh room stock entering the market in 2026–27, leading hoteliers to prioritize occupancy over room rate growth.
• DBS favours CapitaLand Ascott Trust (CLAS) for its diversified portfolio and sector-leading yield, and Centurion Accommodation REIT (CAREIT) for strong demand in purpose-built workers’ accommodation and expectations of double-digit DPU growth.

Above is an excerpt from a report by DBS Bank Ltd. Clients of DBS Bank Ltd can be the first to access the full report from the DBS website : https://www.dbs.com.sg