The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment, has announced the signing of seven new properties in Vienna and Seville, marking a significant expansion in its European footprint. This development adds nearly 1,100 units to Ascott’s portfolio, bringing its total to 64 properties across 26 cities in Europe.
The announcement was made during the official opening of lyf Gambetta Paris, Ascott’s first lyf property in France. The lyf brand, known for its experience-led social living concept, now has eight properties across Europe. Kevin Goh, CEO of Ascott, highlighted Europe’s importance in the company’s global growth strategy, citing strong tourism fundamentals and fragmented supply as key factors.
In Vienna, Ascott has strengthened its partnership with VIE Trust Real Estate Group by signing five new properties, adding over 750 units. These include a second lyf-branded property set to open by the end of 2026. Meanwhile, in Seville, Ascott has partnered with Forty Management SA to develop two properties as part of the Lagoon City resort, marking its first beachside resort project in Europe.
Lee Ngor Houai, COO for Europe, Middle East, Africa, South Asia, and China at Ascott, emphasised the company’s disciplined expansion strategy, focusing on destinations with authentic demand for quality accommodation. The new signings reflect Ascott’s commitment to expanding its asset-light model through franchise and management agreements, enhancing its presence in one of the world’s most attractive hospitality markets.
