The Ascott Limited, a lodging business unit of CapitaLand Investment, is significantly expanding its global resort footprint with 11 new signings in the past 10 months. This expansion, achieved through management and franchise agreements, brings Ascott’s resort portfolio to approximately 50 properties worldwide, reflecting a strategic focus on the burgeoning leisure travel sector.
Ascott’s multi-typology brand strategy is at the heart of this expansion, adapting well-known brands such as Ascott, Citadines, and Oakwood for resort settings. Recent signings include properties in popular destinations like Phuket, Bali, and Phu Quoc, as well as emerging hotspots such as Cam Ranh and Sam Son in Vietnam. This strategic move aims to capitalise on the projected growth in global leisure travel, which is expected to triple to $15 trillion by 2040.
Serena Lim, Chief Growth Officer at Ascott, highlighted the appeal of their flex-hybrid model, which optimises returns by catering to both short and extended stays. “Owners are drawn to our model, which aligns the right brand and format to each resort setting, enabling differentiated guest experiences,” she said.
The expansion also strengthens Ascott’s presence in Vietnam, with new developments like the Lasong Hotel & Villas Sam Son and Citadines Selavia Phu Quoc. These properties offer a range of amenities, from boutique rooms and private villas to spa facilities and event spaces, enhancing the leisure experience for guests.
Ascott’s strategy not only aims to meet the rising demand for experiential stays but also leverages its Ascott Star Rewards programme to deepen member engagement and drive cross-destination travel. Ascott’s Chief Commercial Officer, Tan Bee Leng, noted that the expansion “unlocks a world of leisure-led experiences,” further enriching the loyalty journey for its members.
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