- 11 new Ascott-branded properties with more than 2,300 units signed in last 16 months, bringing brand portfolio to over 80 properties in 43 cities across serviced residences, hotels, resorts and branded residences
- Signing of Ascott Shenton Way Singapore reinforces the brand’s dominance in CBDs of gateway cities around the world
The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment (CLI), is accelerating the global growth of its eponymous flagship brand, Ascott, under the company’s newly unveiled multi-typology strategy. Building on strong momentum in 2024, which saw eight new property signings – more than double the previous year’s total – the brand has continued its trajectory with three additional signings in the first four months of 2025. This brings the Ascott brand portfolio to over 80 properties with more than 17,400 units, both operational and in the pipeline, across 43 cities. Across all its 14 brands, Ascott’s global portfolio now totals over 990 properties with more than 170,000 units in 230 cities.
The three Ascott-branded properties added in 2025 are Ascott Ortigas Manila in the Philippines, Ascott Shenton Way Singapore in Singapore as well as the first Ascott property in Wenzhou, China. In 2024, signings were secured in Nanjing, Shenzhen, Suzhou, Wuhan and Wuxi, with Ascott Xuanwu Lake Nanjing opening the same year it was signed. The brand also entered Batam, Indonesia with the signing of Ascott Batam, and Nairobi, Kenya in East Africa. Ascott concluded 2024 with the signing of Ascott Residences Batu Ferringhi Penang, reinforcing the brand’s presence in Malaysia.
Growing beyond its origins in serviced residences, the Ascott brand is adopting new typologies, including hotels, resorts and branded residences. This underscores the brand’s commitment to offering a comprehensive suite of high-quality global living solutions, tailored for C-suite executives who value the art of fine living.
In the face of increasing economic uncertainty, Ascott’s flex-hybrid operating model is now reinforced with a multi-typology brand strategy. The core strength of the flex-hybrid model lies in its dual capability to serve transient, short-stays as well as extended, long-stay demand from a single operational framework. When strengthened by a multi-typology brand ecosystem, Ascott’s business model gains a unique competitive edge. This enables Ascott to respond dynamically to demand shifts not just by length of stay, but also by owner and guest profiles, and location offerings. Mr Kevin Goh, Chief Executive Officer for Ascott
As seen from the signing momentum of our flagship Ascott brand across multiple typologies in recent months, this agility in response to dynamic macroeconomic conditions drives sustainable growth. By enhancing operational efficiency, deepening brand loyalty and ensuring adaptability in a dynamic travel landscape, it enables us to match the right brand and typology to each market, meeting demand with precision. For property owners, we offer flexible brand and typology combinations that optimise returns, supported by the strength and recognition of our portfolio for faster market traction. For guests, we deliver diverse accommodation options under the brands they know and trust, creating seamless and rewarding experiences. In a world where agility is the new currency of resilience, this flex-hybrid multi-typology strategy allows Ascott to mitigate downside risk in uncertain times, and to capture growth opportunities and upside potential when new demand corridors emerge,
added Mr Goh.
Expanding the Ascott Experience Across New Typologies
Under the multi-typology brand strategy, the Ascott brand is broadening its horizons beyond serviced residences, with recent signings and upcoming openings that showcase an expanded portfolio of branded residences, resorts and full-service hotels with MICE facilities. Amid this evolution, Ascott stays true to its identity through a distinctive set of brand signatures that reflect its quiet expression of luxury. Timeless interiors, curated lobby art installations and elevated service delivered by the Ascott Artisan are hallmarks of the guest experience. Signature offerings such as Themed Suites and the Ascott Soiree – a cultural initiative spotlighting performing, visual, culinary and couture arts – further immerse guests in the soul of each destination. Together, these elements define Ascott as a sanctuary of fine living, thoughtfully designed for C-suite executives.
Rather than creating separate brands for each market segment, we extend our well-established brands – including Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection and The Unlimited Collection – across diverse accommodation types, ranging from limited select-service to luxury full-service operations. Guided by our brand promise to empower our loyal guests to ‘Stay Your Way’, this multi-typology strategy offers tailored global living solutions to address the diverse travel needs of our guests. It is however more than an operationally adaptive strategy to ensure we deliver a consistent and high-quality brand experience worldwide. It is also a revenue-centric model to extend our market reach and enhance our strategic resilience through yield management and distribution efficiencies. By swiftly tailoring the brand presence and reallocating the service mix based on our multi-typology brand strategy, Ascott is honing our agility to meet the dynamic patterns in travel and guest behaviour. Ms Tan Bee Leng, Chief Commercial Officer, Ascott
Branded Residences
A notable milestone in this expansion is Ascott’s first branded residence, Ascott Residences Batu Ferringhi Penang, located along the picturesque coastline between the prestigious residential area of Tanjung Bungah and the popular resort destination of Batu Ferringhi in Penang, Malaysia. Set to launch for sale this year by Malaysian developer Instant Icon Sdn Bhd, the greenfield development will feature 99 exclusive residential apartments that fuse refined architectural design with artistic expression. Scheduled for completion in 2028, the property will offer a mix of expansive units ranging from 2,000 to 4,000 square feet, topped with an 8,000-square-foot penthouse that epitomises elevated coastal living.
Hotels
The newly signed Ascott Shenton Way Singapore is located within a 29-storey green sanctuary in the heart of Singapore’s central business district. Slated to be the brand’s third Ascott property in Singapore and the second within the central business district, Ascott Shenton Way Singapore will house 137 units spanning a variety of room configurations that accommodate both short- and extended-stay guests. Facilities include bespoke wellness offerings, a resident’s lounge, meeting spaces, an all-day dining restaurant, lobby café, gym, spa and swimming pool, complemented by garden terraces that bring nature into the urban core.
Full-Service Hotels with MICE Facilities
Ascott will open its first all-villa hotel, Ascott Villas Riyadh, in Saudi Arabia in July 2025. Located near King Abdullah Financial Street, Riyadh’s financial hub, the property will offer a curated collection of two-, three- and four-bedroom villas, some with private pools. The hotel will also feature four versatile meeting rooms and executive boardrooms, a restaurant, swimming pool, gym and tennis court – blending business functionality with luxury living.
In Vietnam, Ascott Tay Ho Hanoi is set to host meetings and events ahead of its grand opening in 2026. Located by the iconic West Lake in Hanoi’s Tay Ho District, the venue features The Sense Tay Ho Convention Centre, offering 14 flexible event spaces, including the city’s largest pillarless hotel Grand Ballroom, with a capacity for 2,000 guests. The property will also house 618 hotel rooms and serviced apartments, along with premium wellness amenities such as a spa, gym, swimming pool and yoga rooms. Guests will enjoy an exceptional culinary experience at the upscale dining destination, featuring over 10 diverse cuisines, expertly crafted by Michelin-starred and world-renowned chefs. The venue will also feature a stunning sky bar, providing a perfect setting to unwind and take in breathtaking views.
Further expanding in the full-service hospitality service space, Ascott signed Ascott Ortigas Manila in March 2025, marking a strategic addition in the Philippines. Located in the heart of Metro Manila’s Ortigas business district, the property will re-open under the Ascott brand after full renovation, offering 232 units and 1,700 square metres of event space, alongside a spa, gym, swimming pool, resident’s lounge and two dining concepts.
About The Ascott Limited
Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.
Ascott’s diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.
A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
For more information on Ascott’s industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.
About CapitaLand Investment Limited
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.
CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
Visit http://www.capitalandinvest.com/ for more information.
