Ascott Residence Trust, or ART, is a hospitality trust focusing on serviced residences, hotels, rental housing and student accommodation. Following its merger with Ascendas Hospitality Trust in December 2019, its portfolio is currently valued at more than SGD 6.7 billion, consisting of 86 properties with more than 16,000 units. Its properties are spread across 38 cities in 15 countries globally. Its main markets include the United States, France, Japan, Singapore, the United Kingdom, Vietnam, China and Australia. The trust is a stapled unit comprising Ascott REIT, which is managed by manager Ascott Residence Trust Management Limited and Ascott Business Trust, which is managed by trustee-manager Ascott Business Trust Management Pte. Ltd. Parent CapitaLand owns around a 40% stake in ART.