Ascott enters strategic partnership with S Hotels & Resorts

12.07.2024 - 17:18 / traveldailynews.com / Theodore Koumelis

Ascott Limited announces a strategic collaboration with S Hotels & Resorts, aiming to expand its European presence and strengthen global hospitality ties.

BANGKOK, THAILAND – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment, announce a strategic collaboration with S Hotels & Resorts Public Company Limited, the international hospitality company under Singha Estate Public Company Limited.

This collaboration is a significant milestone in the expansion of Ascott’s portfolio in the European market and reinforces a common vision between Ascott, Singha Estate and SHR to establish an even stronger global footprint in the hospitality sector, responding to the increasing demand for distinctive and versatile accommodation options, catering to both business and leisure guests.

Mr Kevin Goh, Chief Executive Officer, Ascott, said: “As an Asia-based hospitality company with 40 years of track record, our strong relationships with owners in this region has been key to Ascott’s success. We look forward to bolstering our partnership network by forging new relationships with owners and strengthening ties with existing ones as we chart Ascott’s global expansion.”

Ms Serena Lim, Chief Growth Officer, Ascott, said: “We are delighted to partner with Singha Estate and SHR to further our growth in the UK, in line with Ascott’s aspirations to deliver exceptional hospitality experiences and establish a new standard for accommodations in the European market. Our commitment to growing Ascott’s presence in strategic locations worldwide is closely aligned with our partners’ ambition to expand their hospitality portfolio through innovative and high-quality developments. This partnership not only marks the fast-tracked growth of our brand footprint into new destinations but also reiterates the confidence that owners have in Ascott.”

S Hotels & Resorts holds a portfolio of 25 hotels comprising 2,678 keys in the UK, which is the group’s largest market. The partnership with Ascott will play a major role in driving S Hotels & Resorts’ target full year revenue of THB11 billion (approximately US$299 million) in 2024.

Ms Thitima Rungkwansiriroj, Chief Executive Officer, Singha Estate PCL, commented: “We are excited to partner with Ascott to enhancing our presence in the UK and providing our discerning guests with exceptional experiences which ultimately lead to sustainable financial return. This partnership will strengthen our position as a leading international investment and development company.”

Mr Michael Marshall, Chief Executive Officer, S Hotels & Resorts PCL, said: “This is an important step forward in our business strategy, as we continue to enhance our portfolio by introducing