Ascott, a fully owned lodging business unit of CapitaLand Investment, has expanded its lodging presence in Southeast Asia with 28 new signings year-to-date (YTD).
This represents more than half of Ascott’s global signings during the same period.
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Of the newly signed properties, seven are under the Oakwood brand, set to open in Cambodia and Singapore, along with expansions across various cities in Indonesia.
An Oakwood Premier property in Singapore is said to be the first of its kind in Southeast Asia following Ascott’s refresh earlier this year.
The latest additions also include four Somerset properties and three Citadines properties.
Furthermore, The Unlimited Collection has expanded with two new properties in Penang, Malaysia.
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By GlobalDataThe lyf brand has also added two new properties in Singapore—lyf Bugis Singapore, which opened last month; and lyf Chinatown Singapore, currently under development.
Ascott chief growth officer Serena Lim said: “Ascott’s flex-hybrid hotel-in-residence model is designed to meet every travel intent and accommodate various lengths of stay, appealing to property owners and developers across different asset classes and locations.
“This model has shown remarkable resilience during and after the pandemic, establishing itself as the preferred choice in the lodging industry. Our recent signings in South-East Asia underscore the confidence property owners and developers have in us, reinforcing the dominance of Ascott’s flex-hybrid model in the region.”
In terms of regional brand growth, HARRIS leads with two new signings, alongside one each for Preference and Fox.
The new signings will add more than 3,400 units across various brands, marking Ascott’s foray into new cities such as Purwakarta, Indonesia; and Kulim, Malaysia.
Ascott has bolstered its presence in Penang, signing nine new properties this year alone.
The latest addition, the 1926 Heritage Hotel by The Unlimited Collection, is expected to open by mid-2026.
Meanwhile, Ascott is doubling its portfolio in Batam, Indonesia, to 14 properties over the past two years, including the debut of its global brands.
The opening of Oakwood Ha Long in Ha Long, Vietnam, in January 2024 marked one of the first resorts in the portfolio, followed by the opening of Oakwood Hotel & Apartments Grand Batam in July 2024.
Among the 12 properties that have become operational so far this year are lyf Cebu City in the Philippines, Citadines Waterfront Kota Kinabalu in Malaysia, and Somerset Kencana Jakarta in Indonesia.
Looking ahead, Ascott anticipates the opening of the first HARRIS property outside Indonesia, HARRIS Hotel Sunshine Penang, in the last quarter of this year.
The lyf brand will debut in Penang with the 144-unit lyf Georgetown Penang.
Last month, Ascott announced the brand refresh of The Unlimited Collection.
