Ascott Residence Trust's Citadines City Centre Frankfurt. (Photo: Ascott Residence Trust)

Fitch Ratings has revised Ascott REIT’s outlook from stable to negative amid an unprecedented downturn in the hotel and lodgings industry.

Ascott Residence Trust (ART) is currently trading on the Singapore Exchange at a steep discount of approximately 30% to book value, according to data compiled on the Singapore REITs table.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.