CapitaLand Ascott Trust (SGX:HMN) reported "relatively stable" distribution income in the first quarter, supported by divestment gains that offset lower gross profit stemming from the closures of The Cavendish London and Madison Hamburg due to renovations.

Revenue per available unit rose 1% year over year in the January-to-March period, according to a Monday filing with the Singapore Exchange.

As of March 31, total assets stood at SG$8.9 billion, comprising 19,000 units across 106 properties in 16 countries.