Ascott marks 40 years in hospitality service with launch of full year campaign "Ascott Unlimited"

04.03.2024 - 07:53 / traveldailynews.com / Asia Pacific / Vicky Karantzavelou

With about 950 properties across over 220 cities and counting, Ascott will be offering Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good, to springboard to next chapter of growth as a global hospitality company.

SINGAPORE  – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), announced the launch of ‘Ascott Unlimited‘, a year-long medley of initiatives to mark its ambitions to break new ground as it celebrates 40 years in hospitality service. Unveiled at the Southeast Asia debut of the Asian Hotel Industry Conference & Exhibition (AHICE) 2024 held in Singapore, this launch signifies a new era as the hospitality company navigates a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel. A leading development, investment, and operations forum, AHICE SEA 2024 was attended by many key prominent investors, owners, and operators in Southeast Asia, representing over US$500 billion in assets.

In 1984, Ascott pioneered Asia Pacific’s first serviced residence with the opening of The Ascott Singapore. Over the years, it has been building its own brands, and making strategic acquisitions to fast-track market penetration. Today, Ascott is a vertically-integrated lodging operator of about 950 properties across more than 220 cities globally, represented by a portfolio of 14 distinctive brands. Through an asset-light strategy, Ascott targets to achieve more than S$500 million in fee earnings by 2028.

Having established its reputation as a market leader in corporate travel within the extended stay sector, Ascott has taken the definition of global living into the transient leisure market. As Ascott pivots its business operations through its flex-hybrid “hotel-in-residence” model to respond to the changing needs of the market, it is on a growth trajectory stronger than ever. In 2023, Ascott achieved a record year of fee earnings at S$331 million, as well as highest number of property openings with nearly 9,600 units turning operational.

Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging, said: “The journey in the evolution of Ascott’s business is a natural one. We have spent the last four decades building the relationship we have with our guests, owners, and partners. We have put in significant investment to develop systems and infrastructure to support our growing business. We have been nurturing a culture of hospitality amongst our associates. Laying the foundation through disciplined growth over the years now paves the way for us to ensure that Ascott will continue to be that preferred accommodation of choice for our guests. We remain committed to quality growth and