Ascott, one of the most significant global lodging business units of CapitaLand Investment Limited (CLI), has achieved a phenomenal feat in 2025 as it signed a record 19,000 units across 102 properties. This achievement indicates that new property signings have risen by 27% year-over-year and shows Ascott’s continued growth in key markets worldwide. “Our assets-light approach drove growth, particularly in high-fee segments like resorts, as franchise efforts accelerate and conversion strategy gains traction” is one of the important statements made.
Expanding Global Footprint Across Key Markets
In 2025, Ascott further solidified its position as a leader in the global hospitality sector, expanding its presence in more than 10 new cities across Asia Pacific and Europe. The company’s global footprint now spans over 230 cities in more than 40 countries, reinforcing its commitment to expanding its diverse portfolio of brands. This rapid expansion is set to address growing demand for high-quality lodging solutions as tourism continues to recover and evolve globally.
One of the key developments for Ascott was the entry into Wellington, New Zealand, where the brand lyf made its debut. This marks a significant step in the company’s growth strategy, as Wellington’s central business district will house a 108-room lyf property. Designed for long-term travelers and digital nomads, the property will feature social spaces and interconnected rooms, aligning with the growing trend of flexible living in the modern travel landscape.
In addition to its expansion in New Zealand, Ascott also made notable inroads in Taipei, Taiwan, with the upcoming opening of Ascott Nangang Taipei. Situated in a prominent business district, this serviced residence will cater to short and extended stays, offering guests easy access to the city’s business and commercial hubs.
Resort Portfolio Expansion Capitalizes on Leisure Travel Growth
Ascott’s growth strategy in 2025 also placed a significant emphasis on expanding its resort portfolio, capitalizing on the surge in leisure travel. The company signed 15 new resorts in top-tier destinations such as Phuket, Phu Quoc, Nha Trang, and Bali. These resorts cater to a growing market for family and wellness travel, where luxury meets relaxation in prime locations.
A standout addition was the 693-unit HARRIS Resort Cam Ranh in Vietnam, marking the brand’s first entry into the country. This resort, located in a major tourist destination, will cater to both short-term and long-term visitors seeking high-end accommodations. Ascott also added a 250-unit lyf property and a 120-unit Somerset residence at Lagoon City Seville in Spain, a mixed-use development anchored by a man-made lagoon.
By expanding its resorts and residential offerings, Ascott is well-positioned to meet the increasing demand for high-quality vacation properties that provide both relaxation and convenience, contributing to the overall tourism growth in these key regions.
Branded Residences Growth Supports Luxury Market Demand
In response to growing demand for branded residences, Ascott expanded its portfolio of luxury living spaces, signing new partnerships for over 1,000 units in Asia Pacific. Notable additions include the Residences at Ascott Abov Patong Phuket, located next to Ascott’s existing resort, and Oakwood Premier Branded Residences Luohu Shenzhen in China. These properties are designed to meet the evolving needs of affluent travelers who seek long-term stays with all the comforts and services of a luxury hotel.
By co-locating branded residences with its hotels, Ascott can create synergies in operations and marketing, enhancing revenue streams for property owners while offering guests a seamless blend of hotel-style amenities and home-like accommodations. The continued expansion of branded residences is expected to drive long-term growth in both the leisure and business segments, supporting the global demand for flexible, upscale living spaces.
Franchise Growth and Expanding Presence in Emerging Markets
Franchise agreements have been a key driver of Ascott’s asset-light growth strategy. In 2025, more than a quarter of the company’s new units were signed under franchise agreements, marking a significant milestone in its global expansion. East Asia saw a surge in franchise activity, with several Quest properties secured in China through a joint venture with Jin Jiang. Additionally, Ascott expanded its Citadines brand across the country with four new franchise agreements.
A particularly significant franchise signing was the 510-key Oakwood resort in Gangneung, South Korea, which will be located in the Cultural Olympic Special Zone. This large-scale development demonstrates Oakwood’s ability to scale and expand in the leisure and extended-stay markets, as Gangneung is a key destination for both leisure travelers and business professionals attending events in the region.
Conversion-Led Growth Drives Quick Market Penetration
Conversions were a major contributor to Ascott’s growth in 2025, with over 38% of new units signed through conversions. This highlights the preference among property owners for a faster, lower-risk route to market, and Ascott’s ability to reposition and enhance existing properties under its well-established brands. Recent conversions included properties such as Citadines Antasari Jakarta, Oakwood Bencoolen Singapore, and lyf Zhangjiang Shanghai, which were all completed within months of signing.
This conversion strategy allows Ascott to quickly bring new properties online, driving revenue generation and offering operational efficiency. With the ability to reposition assets swiftly, Ascott is well-equipped to meet the evolving needs of travelers and property owners, further strengthening its position in the global hospitality market.
Global Brand Expansion and Performance Milestones
Ascott’s brands achieved significant milestones in 2025, with Citadines surpassing 200 properties globally and securing 17 new signings. Oakwood, another key brand in Ascott’s portfolio, signed 16 new properties, maintaining strong owner appeal across the business, leisure, and extended-stay segments.
The company’s collection brands also expanded their geographic reach, with The Unlimited Collection entering Africa and Europe, and The Crest Collection making its debut in the Middle East. The addition of properties like Ascott Coronation Square Johor Bahru in Malaysia and Ascott Shenton Way Singapore underscores Ascott’s commitment to growth in key cities and business hubs.
Ascott’s Strategic Growth Enhances Global Travel and Tourism
The remarkable growth rate achieved by Ascott in 2025 speaks volumes about its strategic initiatives to increase its brand portfolio and access new markets worldwide. The announcement of its significant growth in upcoming years with its diversification business model in the ever-changing travel market will prove to be beneficial not only in the hospitality sector but also in shaping the future of luxury travel around the world. The ability to fulfill its diversified business model will play an instrumental role in keeping pace with the changing environments and landscapes while meeting the growing demand for high-quality lodging options.
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