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Ascott Launches Asia’s First Chelsea-Themed Hotel Suites
Over 250 Chelsea fans and Ascott Star Rewards members gathered to catch the Chelsea versus Arsenal match, beamed live from Stamford Bridge, at HW Livehouse last night as part of The Famous CFC presented by Ascott in Jakarta. Pictured is Chelsea football legend Gary Cahill, alongside fans and supporters of the Blues. The Ascott Limited (Ascott), the Official Hotels Partner of Chelsea Football Club, launched Asia's first Chelsea-themed hotel suites at Ascott Sudirman Jakarta and Citadines Sudirman Jakarta in Indonesia as part of The Famous CFC Jakarta, the third edition of Chelsea's international fan engagement event presented by Ascott. The unveiling was led by Gary Cahill, former England international and Chelsea club captain. The well-loved club legend was the star of the two-day festivities, held on 29 and 30 November 2025, which featured a range of activities including a fireside chat, fan meet-and-greet, pre-match party and watch party for Chelsea's fixture against Arsenal. Events were hosted at venues across Ascott's flagship properties in the city, such as Ascott Sudirman Jakarta, Citadines Sudirman Jakarta and HARRIS Hotel & Conventions Kelapa Gading. The Famous CFC is a global fan experience designed by Chelsea to strengthen its bond with supporters worldwide while fostering collaboration with international partners and brands. As a flagship event in Ascott's second season as Chelsea's Official Hotels Partner, the Jakarta edition reaffirmed the strength of the ongoing partnership between both organisations. Gary Cahill said: "It is amazing to see how Chelsea's global fan family keeps growing, and Indonesia is easily one of the most passionate places for Blues supporters. Being here in Jakarta and seeing how Ascott has brought the spirit of the club to life is really special. The Chelsea-themed hotel suites are a fantastic way for fans to feel closer to the club, even when they are far from Stamford Bridge." Dan McEwan, Director of Partnerships at Chelsea Football Club, said: "We are delighted by the incredible turnout at The Famous CFC in Jakarta. Seeing Chelsea supporters and the Ascott community come together with such enthusiasm illustrates the strength of our partnership and the shared commitment to bringing the club closer to fans worldwide. The Chelsea-themed hotel suites developed with Ascott offer our global fan base a taste of the club and Stamford Bridge, and we are excited by the new ways they help bring the club and partnership to life beyond the pitch." Tan Bee Leng, Chief Commercial Officer, Ascott, said: "Another successful edition of The Famous CFC presented by Ascott, this time in Jakarta. The event underscores our commitment to delivering heartfelt, experiential travel moments for our Ascott Star Rewards members. As our partnership with Chelsea deepens, we are gearing up for the opening of lyf Chelsea London in 2Q 2026. With its bold, experience-led and community-focused concept, the lyf brand is set to capture the spirit of Chelsea and the energy of Stamford Bridge. This will be more than a stay; it will be a vibrant social-living experience that brings the club's passion to life. We look forward to welcoming guests to lyf Chelsea London at Stamford Bridge for an immersive experience that celebrates both the heart of London and the Blues." Book Your Dream Stay in Asia's First Chelsea-Themed Hotel Suites Ascott officially launched Asia’s first Chelsea-themed hotel suites at two of its properties in Jakarta – Ascott Sudirman Jakarta and Citadines Sudirman Jakarta. The Legend Suite at Ascott Sudirman Jakarta was unveiled by Gary Cahill, former England international and Chelsea club captain, on Saturday, 29 November. Capturing the heart of Chelsea’s story, from the great players to the iconic matches, a newly-signed jersey by Gary, was displayed as a final touch as part of the unveiling event. For the first time in Asia, Chelsea fans can immerse themselves in the club's pride and heritage at two Chelsea-themed hotel suites in Jakarta, Indonesia. Adorned with exquisite Chelsea memorabilia and bespoke fittings, The Legend Suite at Ascott Sudirman Jakarta captures the heart of Chelsea's story, from the great players to the iconic matches that have defined the club. Every corner tells a story, with meticulous attention to detail that reflects the legacy of the Blues. Classy and elegant, the suite offers guests the chance to relive legendary moments while enjoying Ascott's signature blend of understated luxury and arts-inspired hospitality. At Citadines Sudirman Jakarta,The Bridge Suite delivers the full excitement of match day. From the moment guests walk in, the suite captures the colours, passion and buzz of Stamford Bridge, with Chelsea-themed décor, ambient lighting and enhanced audio-visual elements. This two-bedroom space lets fans, families and friends feel the emotion of a live game, even thousands of miles from London, for a truly immersive Chelsea experience.
CapitaLand Ascott Trust acquires three rental housing properties in Japan
CapitaLand Ascott Trust (CLAS) announced its acquisition of three freehold rental housing properties in Japan for a total of JPY4 billion. Two of the rental housing properties, Splendide Namba West and Pregio Esaka South, are in Osaka, while the third, Pre de Cort Nishikyogoku, is in Kyoto. On a FY 2024 pro forma basis, the acquisition of the three rental housing properties has a Distribution per Stapled Security (DPS) accretion of 0.3 percent. In line with CLAS’ portfolio reconstitution strategy, the acquisition was funded by proceeds from CLAS’ divestment of Citadines Karasuma-Gojo Kyoto in October 2024 and JPY-denominated debt. The expected net operating income (NOI) entry yield of the acquisition is four percent in FY 2025. This is significantly higher than the NOI exit yield of 0.4 percent from the divestment of Citadines Karasuma-Gojo Kyoto. The three operating assets will contribute to CLAS’ distributable income immediately. On an annualised basis, the combined distributable income is expected to more than fully replace the income from the divested Citadines Karasuma-Gojo Kyoto. CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte Ltd chief executive Serena Teo said: “The acquisition demonstrates CLAS’ ability to reconstitute our portfolio by redeploying divestment proceeds into higher-yielding assets, further enhancing CLAS’ portfolio and the quality of our earnings. Built about five years ago, the three rental housing properties are located in prime areas of key gateway cities with expanding economic opportunities. With average lease terms of about two years and an average occupancy of about 97 percent, the acquisition strengthens our stable income stream and portfolio resilience. Meanwhile, our earlier acquisition of two hotels in Tokyo and Kanazawa in January 2025 positions us to benefit from the growing travel demand. This combination of stable and growth income sources is a key strength for CLAS.” Surging forward in a key market Japan is one of CLAS’ key markets and, post-acquisition, its properties in the country will account for 17.7 percent of the company’s entire portfolio. This will essentially enable CLAS to better capitalise on the strong lodging demand in the country, whilst maintaining a geographically diverse portfolio. Teo said: “We remain focused on our three-pronged strategy: unlocking value through divestments, investing in yield-accretive opportunities, and uplifting portfolio quality through well-timed asset enhancement initiatives (AEIs), to deliver steady long-term returns to our Stapled Securityholders.” In total, CLAS will have 33 assets in Japan, comprising two serviced residences, four hotels, 26 rental housing properties, as well as a student accommodation property. Its properties in the living sector such as rental housing and student accommodation account for about 17 percent of CLAS’ total portfolio value. In the medium term, CLAS aims to increase its allocation towards living sector assets to about 25 to 30 percent, with the remaining 70 to 75 percent to serviced residences and hotels.
Ascott Expands Resort Portfolio with Multi-Typology Brand Strategy
The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment (CLI), is scaling its global resort footprint through asset-light expansion. Riding on growing demand for experiential stays, Ascott now has around 50 properties in resort destinations in operation and under development worldwide, supported by 11 new signings in the past 10 months secured via management and franchise agreements. These represent about 5% of its global portfolio of over 1,000 properties, reflecting a strategic focus on the fast-growing leisure segment. This momentum is driven by Ascott's multi-typology brand strategy, which adapts well-loved brands such as Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection and The Unlimited Collection for resort settings. This approach enables efficient scaling in high-potential destinations while fulfilling lifestyle aspirations of its growing Ascott Star Rewards membership and delivering brand-led solutions that drive long-term value for property owners. Capitalising on growing demand for experiential stays, Ascott now has around 50 properties in resort destinations in operation and under development worldwide, supported by 12 new signings in the past 10 months secured via management and franchise agreements. Among these is the upcoming Ascott Abov Patong Phuket Resort (pictured), which marks Ascott's debut in Phuket. Just 150 metres from the iconic Patong Beach, it features 254 rooms, comprehensive leisure facilities and event venues. Also part of the development is a 227-unit branded residence, Residences at Ascott Abov Patong Phuket. Recent signings across Asia and the Middle East reflect Ascott's strategic expansion into key leisure hotspots. These include iconic beach destinations such as Patong Beach in Phuket and Jimbaran Beach in Bali. Ascott is also entering Marjan Island, Ras Al Khaimah's premier man-made coral island known for its pristine beaches. In Vietnam, Ascott is growing its presence in Phu Quoc, voted the world's second-best island[2], and Nha Trang, an established coastal city often dubbed the "Riviera of the South China Sea". The company is also capitalising on emerging opportunities in fast-growing destinations such as Cam Ranh, an up-and-coming aviation and leisure hub, and Sam Son, a rising domestic and regional tourism hotspot. Additionally, Ascott is entering Labuan Bajo, Indonesia — the gateway to Komodo National Park, a UNESCO World Heritage site. In South Korea, it is tapping demand in Gangneung, the leading east coast destination and host of the 2018 Winter Olympics. Ascott's push into resort destinations capitalises on robust industry tailwinds. Global leisure travel spend is projected to triple to US$15 trillion by 2040, fuelled by increasing demand from the burgeoning middle class in emerging markets such as China, India and Saudi Arabia, the rise of experience-led younger travellers, and surging domestic and regional tourism1. Notably, over 70% of travellers from emerging markets now combine business and leisure trips, highlighting the growing importance of bleisure travel1. Within this broader trend, the global resort segment – valued at US$300.03 billion in 2023 – is forecast to reach US$945.38 billion by 2030, growing at 18.2% CAGR, driven by rising disposable incomes, increased international travel, and preference for destination-led, experience-rich stays [3]. Serena Lim, Chief Growth Officer, Ascott, said: "As leisure travel continues to outpace global tourism growth[4], we are seeing strong momentum from property owners eager to grow with us in the resort space. Owners are drawn to our flex-hybrid model, which optimises returns and mitigates risk in dynamic leisure markets by serving both short and extended stays within a single operational framework. Complemented by our multi-typology brand strategy, we align the right brand and format to each resort setting, enabling differentiated, locally attuned guest experiences while staying responsive to evolving travel trends. Backed by a loyal and expanding member base seeking elevated leisure experiences, Ascott is well-positioned to deliver long-term value through exceptional resort stays, creating results for owners, delight for guests and impact across the markets we serve." Tan Bee Leng, Chief Commercial Officer, Ascott, said: "Resorts represent a powerful extension of Ascott's brand promise to let guests 'Stay Your Way', unlocking a world of leisure-led experiences that elevate our Ascott Star Rewards (ASR) programme to new heights. From sun-drenched beachfront villas and serene mountain retreats to château stays and immersive wellness escapes, each resort adds lifestyle richness to the loyalty journey, deepening member engagement and incentivising cross-destination travel. At the same time, a growing base of loyal ASR members fuels demand for these differentiated resort offerings globally — accelerating our resort expansion strategy with data-backed insights and a ready community of experience-driven travellers. Ascott's flex-hybrid model and multi-typology brand approach allow us to scale trusted urban brands into resort destinations with local authenticity and operational excellence, creating a virtuous cycle that benefits guests, members and property owners alike." Expanding Reach Across Leisure Hotspots Ascott is expanding into sought-after resort destinations with new property signings that deliver diverse, experiential stays. In Thailand, Ascott Abov Patong Phuket Resort will feature 254 rooms and comprehensive leisure facilities including all-day dining, a swimming pool, rooftop bar, pool bar, spa, gym, kids' club and event spaces. Located just 150 metres from iconic Patong Beach and surrounded by tourist attractions, the resort enjoys a prime position in Thailand's leading leisure destination, known for its strong year-round demand and diverse visitor base. Guided by the brand's understated luxury philosophy, Ascott Abov Patong Phuket Resort will showcase its "Fine Arts Inspired by Nature" concept, blending luxury, tranquility and local artistry in perfect harmony. The project also includes Residences at Ascott Abov Patong Phuket, a 227-unit branded residence, with completion targeted for 2027. Vietnam is a key focus of Ascott's resort portfolio expansion. Lasong Hotel & Villas Sam Son by The Unlimited Collection (pictured) in Thanh Hoa began operating in phases from April 2025, just six months after signing. Offering an immersive stay along one of Vietnam's most renowned beaches, the resort features boutique rooms, private villas, dining venues, a Korean jjimjilbang and event facilities including a grand ballroom. Ascott is also scaling its resort portfolio in Vietnam. Somerset Nha Trang, part of the landmark Libera Nha Trang development, will bring the brand's trusted family-friendly resort living to one of Vietnam's most popular beach destinations. Meanwhile, Citadines Selavia Phu Quoc will anchor a mixed-use precinct on the island's popular southwest coast. Opening in 2027, this 369-unit beachfront development will offer premium amenities including a spa with onsen facilities, all-day dining and expansive event spaces. In Cam Ranh, along Long Beach, Ascott will debut the HARRIS brand in Vietnam with the 693-unit HARRIS Resort Cam Ranh. Designed as an all-in-one resort destination, it will feature specialty dining, a beach club, water park and recreational facilities. Business travellers will also be catered for with a ballroom and dedicated meeting spaces. Slated to open in 2026, HARRIS Resort Cam Ranh marks the brand's continued expansion beyond Indonesia into high-potential Southeast Asian markets. Separately, Lasong Hotel & Villas Sam Son by The Unlimited Collection in Thanh Hoa began opening in phases in April 2025, less than six months after signing. The resort offers a distinctive retreat on one of Vietnam's most storied beaches, blending boutique hotel rooms, private villas, wellness amenities – including a Korean jjimjilbang and dedicated spa – a grand ballroom and culturally inspired dining. As the second property under The Unlimited Collection in Vietnam after Anmira Resort & Spa Hoi An by The Unlimited Collection, it underscores Ascott's commitment to culturally immersive experiences in fast-growing leisure destinations. In Indonesia, the 120-key lyf Labuan Bajo marks Ascott's debut in one of the country's most sought-after resort destinations, a rising eco-tourism hub and gateway to UNESCO-listed Komodo National Park. Opening in 2027, the property will introduce lyf's experience-led social living concept to Labuan Bajo, featuring vibrant communal spaces, coworking zones and curated local experiences designed to foster connection and exploration among next-generation travellers. The upcoming 57-unit all-villa Oakwood Jimbaran Villas and Residences Bali (pictured) strengthens Ascott's established Bali portfolio, providing direct access to Jimbaran Beach, one of Bali's most coveted destinations known for its pristine coastline, world-class seafood restaurants and breathtaking sunset views. Three other resort developments across Indonesia are also slated to open from 2026 to 2028. In Bali, the 57-unit Oakwood Jimbaran Villas and Residences Bali will provide direct access to the renowned shores of Jimbaran Beach, while the 366-unit Oakwood Premier Berawa Beach Bali will offer upscale beachfront living in the trendsetting district of Canggu. In Sanur, the 180-unit Oakwood Sanur Bali will be positioned within the Special Economic Zone, adjacent to the highly anticipated Bali International Hospital – a future hub for medical tourism. Featuring ocean views and convenient beach access alongside diverse accommodation choices, the property will blend coastal charm with wellness-focused amenities, complemented by recreational facilities, event spaces and destination dining experiences. In South Korea, Ascott is introducing its Oakwood brand to Lagoon Town, a landmark resort complex under development in Gangneung's Cultural Olympic Special Zone. Overlooking both Gyeongpo Lake and Gyeongpo Beach, the 500-key property will meet rising demand for leisure-led extended stays on Korea's scenic east coast. Located just five minutes from Gangneung Station and two hours from Seoul via KTX, the property is positioned to become a key coastal retreat for domestic and international travellers. In the UAE, Al Mahra Resort by The Crest Collection is set to open in 2027 on Marjan Island, Ras Al Khaimah's flagship beachfront leisure destination. The resort will feature 539 uniquely designed rooms and luxury suites with a comprehensive selection of amenities including all-day dining, specialty restaurants, bars, a spa, swimming pool, gym, kids' playroom, club lounge and flexible event spaces – making it a standout destination for upscale coastal getaways. These additions expand Ascott's growing resort portfolio, which includes ski retreat Oakwood Suites Chongli in China's premier winter sports hub, the all-villa Oakwood Ha Long near Vietnam's UNESCO-listed Ha Long Bay, Somerset Pattaya on Thailand's vibrant coast and Château Belmont Tours by The Crest Collection in France's Loire Valley. Ascott will also debut its Preference brand in the Philippines with Balai Dajao by Preference in Siargao island, the country's celebrated surfing capital. The 100-unit property featuring suites and villas is expected to operate from late 2027. With over 20 new properties in resort destinations set to open over the next three years, Ascott continues strengthening its lifestyle hospitality presence in key leisure markets worldwide.
CapitaLand’s Ascott signs landmark agreement in the Johor-Singapore Special Economic Zone
CapitaLand Investment’s hospitality arm The Ascott Limited (Ascott) was appointed by Coronade Properties Sdn Bhd (Coronade Properties) to manage the hotel component of the Coronation Square integrated development. The hotel management agreement between Ascott and Coronade Properties was signed today, 8th August, in Singapore, witnessed by Johor’s Menteri Besar Onn Hafiz bin Ghazi and Singapore’s minister of trade and industry as well as national development Alvin Tan. Their presence underscored the shared commitment of Johor and Singapore to deepen cross-border collaboration through enhanced infrastructure, investment and mobility. Coronade Properties’ director of corporate relations Datin Paduka Alinah Ahmad said: “We are proud to partner with Ascott on this landmark hotel, which will serve as a premier gateway for both business and leisure travellers. As Coronation Square develops into a vibrant destination, this partnership marks an exciting new chapter in Johor’s hospitality and real estate landscape. Building on this momentum, Coronade Properties is planning the launch of a new residential project, Coronade Twins, in Q4-2025. Residential apartments at Coronation Square will feature hotel-grade concierge services as a value-add for homebuyers.” Ascott’s chief strategy officer and managing director for Southeast Asia Wong Kar Ling added: “With the JS-SEZ catalysing greater cross-border investments and the RTS enhancing connectivity, Johor Bahru is entering a dynamic new phase of growth. Ascott Coronation Square Johor Bahru allows us to introduce our namesake Ascott brand to this market, positioning us at the heart of this transformation to capture rising demand from corporate, long-stay and leisure segments. This reinforces our long-term commitment to Malaysia's hospitality landscape and cross-border prosperity.” Wong added that Ascott’s presence in Malaysia continues to deepen, with over 40 properties in operation and in the pipeline. These span diverse brands including Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox and Harris, catering to a wide range of guests and market segments. She concluded by saying: "From key urban centres like Kuala Lumpur and Johor Bahru to fast-growing leisure destinations such as Penang and Sabah, Malaysia remains a core growth market for us. We are committed to expanding our footprint with high-quality developments that meet the evolving expectations of discerning travellers visiting the country." A strategic location The development is strategically located in the Ibrahim International Business District (IIBD) within the Johor-Singapore Special Economic Zone (JS-SEZ) and will be directly connected to the upcoming Rapid Transit System (RTS) Link. Operating under Ascott’s flagship namesake brand, Ascott Coronation Square Johor Bahru will serve as a flagship hospitality development in the JS-SEZ, catering to rising demand from increased cross-border business, tourism and investment activities. The collaboration represents the first major hospitality partnership since the landmark JS-SEZ agreement between Malaysia and Singapore in January 2025, highlighting the zone’s emerging appeal for cross-border business ventures. The project also marks the debut of the premier Ascott brand in Johor Bahru and will be the sixth Ascott-branded property in Malaysia. The other five Ascott-branded properties are in Kuala Lumpur and Penang. This represents a strategic milestone in Ascott's continued expansion in Malaysia, where it now manages a portfolio of over 40 properties, both operating and in the pipeline. Raising the bar for hospitality excellence Ascott Coronation Square Johor Bahru will be a five-star hotel with 207 rooms housed within Tower 1 of Coronation Square, strategically located in the IIBD of the JS-SEZ. Scheduled to open in the second half of 2029, the hotel will cater to leisure, business and long-stay travellers with comprehensive facilities including an all-day dining restaurant, swimming pool, fitness centre, residents’ lounge and meeting rooms. Designed as a sanctuary of fine living, the property will showcase Ascott's signature touches through timeless interiors, curated lobby art installations and elevated service by the Ascott Artisan. Guests can enjoy curated experiences including Themed Suites and the Ascott Soirée, a cultural initiative celebrating the arts and connecting guests to their destination. Currently under development, Coronation Square is a RM5 billion integrated development by Coronade Properties and the first project to kick-start the 250-acre IIBD, positioned as a catalyst to transform Johor Bahru into a world-class metropolis. The 9.6-acre development comprises hotel, medical, office and residential components, as well as the 1.2 million-square-foot Coronation Square Mall. Construction of the mall will begin in 2026, with completion targeted for 2030. Coronation Square boasts direct connectivity to the upcoming RTS station at Bukit Chagar and the Customs, Immigration and Quarantine facilities via a 210-metre elevated walkway, enhancing seamless cross-border accessibility. Supporting this connectivity, the project features basement parking with about 4,500 parking bays, including some 700 bays reserved for RTS users.
CapitaLand Ascott Trust achieves 6 percent increase in gross profit
CapitaLand Ascott Trust (CLAS) achieved an increase of six percent in gross profit year-on-year, reaching S$182.5 million for H1-2025. Revenue was also up three percent y-o-y to S$398.5 million. The higher gross profit and revenue were mainly attributed to stronger operating performance, CLAS’ portfolio reconstitution strategy and asset enhancement initiatives (AEI). On a same-store basis, both gross profit and revenue grew four percent y-o-y in the first half of this year. CLAS’ revenue per available unit (REVPAU) for H1-2025 rose by three percent to S$150, compared to H1-2024. CLAS’ REVPAU for Q2-2025 also saw a three percent increase y-o-y to S$159 on the back of higher average occupancy rates, while most of CLAS’ key markets registered REVPAU growth. Driven by the operating performance of the portfolio, CLAS’ total core distribution for the first six months of this year increased by one percent y-o-y to S$91.6 million, while total distribution remained at S$96.5 million. Core Distribution per Stapled Security and DPS remained relatively stable at 2.40 cents and 2.53 cents respectively. Given these developments, CLAS is committed to distributing stable core distributions, through enhancing core distribution income from operating performance and distributing non-periodic and/or divestment gains when appropriate. CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte Ltd chair Lui Chong Chee said: “CLAS continues to deliver consistent growth, achieving higher revenue and gross profit in H1-2025. Despite global uncertainties, CLAS remains resilient, supported by our diversified portfolio across geographies, lodging asset classes and contract types. In 1H 2025, 66 percent of CLAS’ gross profit was from stable income sources, of which 16 percent of the gross profit was contributed by CLAS’ assets in the living sector. The remaining 34 percent of the gross profit came from growth income sources. We continue to seek opportunities to reconstitute and enhance our portfolio. By divesting properties at the optimal stage of their life cycle, we are able to reinvest the proceeds into higher-yielding acquisitions, AEIs or other value-accretive uses to deliver stable and sustainable returns to Stapled Securityholders.” Continuing growth Meanwhile, CEO Serena Teo said: “As part of our proactive portfolio management strategy, we have planned to undertake three additional AEIs in 2025 and 2026, bringing the total number of AEIs to five. One of the additional AEIs, for ibis Ambassador Seoul Insadong, was successfully completed in 1H 2025. The total capital expenditure to upgrade the remaining four properties in the pipeline is approximately S$205 million. These AEIs will enhance the value proposition of our properties located in key gateway cities, enabling them to better capture lodging demand and uplift both profitability and asset value.” Teo added that these AEIs complement CLAs’ growth strategy through portfolio reconstitution. In January 2025, CLAS redeployed divestment proceeds to acquire two freehold limited-service hotels in Japan, ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, for a total of S$178.5 million. This acquisition has a DPS accretion of 1.6 percent, and will more than replace the income from the company’s four previously divested properties in Japan. Teo concluded with: “We continue to strengthen the quality and earnings resilience of CLAS’ portfolio, positioning us for future growth.”
The Ascott Limited fast-tracks expansion for The Crest Collection
CapitaLand Investment’s hospitality arm The Ascott Limited (Ascott) is accelerating the global expansion of its European-born luxury brand The Crest Collection in response to growing demand from luxury travellers for distinctive, heritage-rich stays. Over the past six months, the brand has gained strong momentum across East Asia and the Middle East, adding over 1,200 units from four new signings and one opening. The portfolio now comprises 16 properties with over 2,700 units, both operational and in the pipeline, across 11 countries and 13 cities. As a key brand within the Ascott Star Rewards (ASR) programme, The Crest Collection enhances the diversity of the ASR portfolio, offering members a broader range of luxury options and more opportunities to experience heritage-inspired stays around the world. A growing number of luxurious properties Among the newest additions in East Asia is SEN/KA TOKYO by The Crest Collection, set to open in the second half of 2029, marking the brand's debut in Japan. Also contributing to growth in the region are two developments in China: Hong Yuan Hotel by The Crest Collection, which opened in Haikou, Hainan Province, at the end of last year, and a property slated to open by mid-2026 in Wuhan's Donghu New Technology Development Zone, commonly known as Optics Valley. In the Middle East, Al Mahra Resort by The Crest Collection, the brand's first resort and its debut in the United Arab Emirates, will open in early 2027, to be followed by the brand's first property in Saudi Arabia, opening in Riyadh in 2028. This expansion into East Asia and the Middle East builds on the brand's growing traction in Southeast Asia. La Clef Bangkok by The Crest Collection, set to open in mid-2025, will become the brand's fourth property in the region, following the 2023 debut of The Grand Mansion Menteng by The Crest Collection in Indonesia, The George Penang by The Crest Collection in Malaysia, and The Robertson House by The Crest Collection in Singapore. Meanwhile, the brand's seven other operational and pipeline properties are located across Europe, where The Crest Collection was first established in 2016. A rising interest in luxury accommodations Ascott’s chief growth officer Serena Lim opines that interest in luxury stays is increasing within Asia and the Middle East, driven by travellers seeking meaningful connections to the region's rich culture and heritage. Lim said: “The Crest Collection meets this aspiration with its 'A Story Behind Every Door' brand promise, delivering culturally immersive experiences enriched by each property's distinctive identity, while enabling owners to tap into the strength of Ascott's global commercial ecosystem.” Lim added that The Crest Collection is highly conversion-friendly, adapting seamlessly across serviced residences, hotels, resorts and other accommodation types. As she puts it: “While recent signings highlight new builds such as the brand's first resort, its adaptability also makes it ideal for property conversions that enable swift time-to-market. By tailoring solutions to the unique demands of each location, our market-driven approach empowers us to respond to evolving traveller expectations with agility and deliver sustained value for owners." This acceleration of expansion is timely, given how the global luxury travel sector is projected to grow from US$1.4 trillion in 2024 to US$2.2 trillion by 2030, driven not just by affluence among the wealthy but also by younger travellers who are willing to pay top dollar for meaningful experiences. With luxury travellers drawn to destinations that excite, along with surprising environments and experiences that speak to their individuality, it is clear that the true essence of luxury lies in celebrating unique stories rather than uniformity.
The Ascott Limited donates significant contribution to Save the Children
CapitaLand Investment’s hospitality arm The Ascott Limited (Ascott) recently advanced its disability inclusion efforts with a contribution of S$400,000 to global non-profit organisation Save the Children. This initiative is funded by CapitaLand Hope Foundation (CHF), the philanthropic arm of CapitaLand Group, under its CapitaLand AccessABLE Programme. The partnership was officially announced at a special concert held at Somerset Rama 9 Bangkok, Thailand, on Saturday, 17th May, in celebration of Global Accessibility Awareness Day (GAAD) which was observed globally on Thursday, 15th May. Featuring orchestral and mime performances by artists with disabilities, the event drew about 100 attendees and highlighted disability inclusion efforts within Thailand’s arts and hospitality sectors. Proceeds from ticket sales were used to donate wheelchairs to the Foundation for Children with Disabilities (Thailand) and white canes to the Thai Blind People’s Foundation. As part of the event, Dots Coffee also set up a kiosk to promote its business and highlight its inclusive employment model, which empowers individuals with visual impairments through meaningful work in the F&B sector. A meaningful initiative The donation will support two programmes in Thailand and the United Kingdom, benefitting 160 children and youths with disabilities by equipping them with essential skills, confidence and opportunities to participate in social, educational and economic activities. According to CLI senior advisor and CHF executive director Tan Seng Chai: “CHF is committed to build resilience in communities where CapitaLand operates, through supporting initiatives that promote education, health and well-being for children, youth and seniors. Through the CapitaLand AccessABLE Programme, we aim to enrich the lives of persons with disabilities by enhancing their independent living skills, fostering social engagement and helping them realise their full potential.” At the same time, this meaningful collaboration between Ascott and Save the Children also creates meaningful opportunities for Ascott staff to contribute directly, from identifying accessibility barriers to co-developing practical solutions. As Tan puts it: “These hands-on experiences deepen CapitaLand’s strong culture of volunteerism and reflect how our people are actively shaping real, lasting change on the ground.” The programme in Thailand In Thailand, the Ascott–Save the Children partnership is supporting the development of a tailored skills curriculum for 60 visually impaired youths, equipping them with tools for long-term success in the workforce. The programme focuses on workplace readiness, covering key skills such as communication, teamwork and problem-solving. By the end of the programme, around half of the participants are expected to secure employment with Dots Coffee, a leading social enterprise run entirely by individuals with visual impairments, while the rest will continue to receive job placement support. Save the Children’s executive director in Thailand Guillaume Rachou said of the partnership: “We are honoured to work with Ascott and CHF to help break down the barriers that may hinder visually impaired youth from finding meaningful work. Through this partnership, we are developing and piloting a life skills training programme tailored for youth with visual impairments, helping them build confidence and key abilities such as communication, teamwork and problem-solving to thrive in the workplace and in life. This initiative is not just about preparing youth for jobs; it is about changing perceptions and creating a more inclusive society.”
The Ascott Limited boosts talent development to support upcoming properties
CapitaLand Investment’s lodging arm The Ascott Limited (Ascott) is ramping up talent development to support the opening of more than 300 new properties by 2028. This global expansion is expected to create more than 12,000 new jobs, including over 1,500 property leadership roles. In order to support such extensive growth, the company is launching Ascott Accelerate, a structured talent management programme that fast-tracks high-potential associates into hospitality leadership positions. This will be complemented by a digital learning platform offering flexible and accessible development opportunities for associates across all levels. These new initiatives are part of the Ascott Global Academy for Excellence (AGAX), a comprehensive training platform launched in 2024 to build a future-ready workforce and support Ascott’s target of achieving over S$500 million in fee-related earnings by 2028. AGAX is led by the Ascott Learning Council which is jointly chaired by chief strategy officer and managing director for Southeast Asia Wong Kar Ling and chief operating officer for EMEA, South Asia, and China Lee Ngor Houai. According to Lee: “At Ascott, our vision is to be the preferred hospitality company, enriching global living with heartfelt experiences. To deliver on this, we have expanded our portfolio beyond serviced residences to include hotels, resorts, social living spaces and branded residences, offering guests more choices under our brand promise ‘Stay Your Way.’ Our multi-typology brand framework not only caters to the diverse needs of today’s travellers, but also empowers our associates to develop broad-based expertise and thrive across different accommodation formats. As our business continues to grow and diversify, we remain deeply committed to developing our people, ensuring they have the skills and support to grow with us. Looking ahead, talent development will remain central to our strategy as we expand globally, with over 300 new properties set to become operational by 2028.” Onward, always upward In 2024, Ascott continued its upward trajectory, achieving a third consecutive year of record fee-related earnings at S$343 million, reflecting a 12 percent year-on-year increase on a recurring basis. This performance was driven by a six percent rise in revenue per available unit (RevPAU) and the opening of a record 11,700 units across 54 properties. Today, Ascott’s global footprint spans more than 990 properties in over 230 cities, with two-thirds already operational. The company is advancing its growth through a multi-typology brand strategy designed to scale and diversify its presence across key markets. Malaysia exemplifies this approach with a portfolio of more than 40 operational and currently developmental properties spanning serviced residences, hotels, resorts, social living spaces and branded residences. Fittingly, Ascott chose Penang, home to 21 of these properties, as the launch site for Ascott Accelerate and its new digital learning platform during the Ascott Learning Festival, reinforcing Malaysia’s role in supporting the company’s broader growth strategy. Wong said of this programme: “This programme supports associates from entry-level roles to key property leadership positions, such as Residence Manager and General Manager. Through mentorship, on-the-job training, project-based learning and e-learning, Ascott Accelerate will shape the next generation of hospitality leaders, equipping them with the capabilities to drive our continued success. As the training needs of our organisation evolve, we are also exploring partnerships with leading hospitality institutions to enhance the professional credentials of our team. We welcome individuals with a passion for hospitality to join us at Ascott, where opportunities to grow and thrive are part of our dynamic journey.” She added that hospitality is about connecting people across places, cultures and possibilities. Wong said: “At Ascott, we believe those connections should begin within our own teams. Just as we aspire to offer global living to our guests, we are equally committed to giving our associates the opportunity to experience the global nature of our business, whether through international assignments or globally connected platforms like our learning festivals. These initiatives reflect not only the scale of our operations but also why many are drawn to hospitality: a passion for people, culture and discovery.”
Ascott and Chelsea Celebrate the 2024/25 CFC Tour in Bangkok
Caption: Chelsea Football Club legend Gianfranco Zola (first row, second from right) joined Ascott’s Chief Executive Officer Kevin Goh (third from right) alongside over 250 Chelsea supporters and Ascott Star Rewards members at an exclusive watch party held at Hobs at ICONSIAM, for the live screening of the Chelsea vs.Everton match on Saturday, 26 April. The power-packed two-day event brought together hundreds of passionate Chelsea fans and Ascott Star Rewards members from across the region, who took part in an exciting line-up of activities and enjoyed exclusive access to club legend Gianfranco Zola Chelsea Football Club, in collaboration with presenting partner The Ascott Limited (Ascott), brought The Blues to Bangkok, Thailand, this past weekend with the fourth and final stop of The Famous CFC tour for the 2024/25 season. Ascott also hosted the first stop of this season’s global fan experience in Singapore last December. Both events featured special appearances by club legend Gianfranco Zola, bookending the tour with two unforgettable experiences. As Chelsea’s Official Global Hotels Partner and the presenting partner of The Famous CFC for this visit to Bangkok, Ascott played a key role in bringing this thrilling event to life, underscoring its ongoing commitment to delivering exceptional experiences for both Chelsea fans and Ascott Star Rewards members. Marking Chelsea’s return to the city for the first time since 2017, the Bangkok edition of The Famous CFC took place over the weekend of 25 and 26 April 2025 at several venues, including Ascott Embassy Sathorn Bangkok, Somerset Rama 9 Bangkok and lyf Sukhumvit 8 Bangkok – Ascott’s flagship properties in the city. The two-day event featured a watch party for the highly anticipated Chelsea vs. Everton match, along with exclusive meet-and-greet opportunities with Chelsea legend Gianfranco Zola. Gianfranco Zola said: “I had an amazing time at The Famous CFC in Bangkok – my second time with Ascott – and it was a true pleasure. The Chelsea fans in Bangkok were incredibly enthusiastic, and I am grateful for the opportunity to connect with them on such a personal level. The energy they brought was simply unbeatable and the trip was capped off with an important win at Stamford Bridge!’ Casper Stylsvig, Chelsea's Chief Revenue Officer, said: “The second edition of The Famous CFC with Ascott was a resounding success in Bangkok, and we are grateful for Ascott's support in delivering the many events. Their global network and resources have created new opportunities for us to connect with our fans overseas, particularly in Asia, and the weekend really highlighted the value of this - for us as a club watching our match against Everton with our passionate local supporters, delivering unforgettable experiences for Ascott Star Rewards members and also creating memories with Gianfranco and the local community groups from Childline Thailand.” Caption: Chelsea Football Club legend Gianfranco Zola was welcomed by Chelsea fans and Ascott Star Rewards members at an exclusive pre-watch party held at Ascott Embassy Sathorn Bangkok on Saturday, 26 April. Tan Bee Leng, Chief Commercial Officer, Ascott, said: “The incredible turnout and energy at The Famous CFC in Bangkok is a testament to the strong synergy between the Ascott and Chelsea brands. From the exclusive meet-and-greets with Chelsea legend Gianfranco Zola to immersive fan activities, every moment was thoughtfully curated to bring joy and lasting memories to our Ascott Star Rewards members. It was a weekend that showcased the powerful connection between sports, community, and hospitality. The event reflects Ascott’s commitment to redefining hospitality on a global stage, by transforming a hotel stay into a heartfelt experience—one where our guests feel truly rewarded, celebrated, and part of something bigger. We are excited to bring this event and other extraordinary experiences to even more cities worldwide, delivering the same passion, energy, and warmth to our loyalty members and Chelsea fans around the world.” “We are thrilled to carry this momentum into the upcoming opening of lyf Stamford Bridge London in the second half of this year. With its bold, experience-led and community-driven concept, lyf is the perfect match for the indomitable spirit of Chelsea and the vibrant pulse of Stamford Bridge. More than just a place to stay, the hotel will offer a social living experience that embodies the club’s passion. We cannot wait to welcome guests to a stay that celebrates the heart of London and Chelsea,” she added. Highlights from The Famous CFC – Bangkok Edition In line with The Famous CFC’s cornerstone of giving back to local communities, the Bangkok edition kicked off on Friday, 25 April, with Gianfranco Zola’s visit to The Hub Saidek, a drop-in centre for street children operated by ChildLine Thailand Foundation and supported by Safe Child Thailand. Safe Child Thailand, a UK-registered charity, collaborates with a network of local charities and non profit organisations to support the disadvantaged communities of Thailand. The children and young people who use the Hub Saidek’s facilities enjoyed a fun morning of football and participated in a mini-tournament at an urban pitch in Bangkok, with Zola sharing a few football tricks and offering words of encouragement to the young players. Later in the day, Zola toured the Thai capital, soaking in its pulsating rhythm, and visited several of Ascott’s properties in Bangkok to film exclusive content for fans. These included Somerset Rama 9 Bangkok, lyf Sukhumvit 8 Bangkok and Ascott Embassy Sathorn Bangkok, where he stayed during the trip. Caption: Chelsea Football Club legend Gianfranco Zola (right) joined The Ascott Limited’s CEO Kevin Goh and Ascott’s mascot, Cubby, for a picture in an immersive experiential zone, set up at a pre-match party at Ascott Embassy Sathorn Bangkok on Saturday, 26 April. On Saturday, 26 April, over 100 Ascott Star Rewards members had the chance to enjoy a breakfast of a lifetime with Zola at Somerset Rama 9 Bangkok as part of a special meet-and-greet event. Fans interacted with Zola, took photos with him and the 2016/17 Premier League trophy, and basked in an unparalleled morning of excitement. The activities continued into the afternoon at Ascott Embassy Sathorn Bangkok, where Zola engaged in a fireside chat, sharing personal stories, reflecting on memorable moments from his football career and answering questions from attendees. Just before the evening’s watch party, Zola also joined Ascott Star Rewards members at an exclusive pre-watch party, which featured an immersive experiential zone for photo opportunities and a suite of fan engagement activities. The excitement reached its peak with the watch party held at Hobs at ICONSIAM, where over 250 supporters gathered along the scenic Chao Phraya River for the live stream of the Chelsea vs. Everton match. The atmosphere was charged as fans from across the region united in their passion, cheering for their favourite team. Special video messages from Marc Cucurella, Enzo Fernández, Christoper Nkunku, Kiernan Dewsbury-Hall, Benoît Badiashile and Omari Kellyman, along with exclusive giveaways drawn by Cole Palmer, Marc Cucurella and Enzo Fernandez, added to the thrill throughout the evening. The watch party marked the perfect conclusion to an extraordinary two-day celebration and the season’s Famous CFC global tour.
The Ascott Limited to double portfolio in India
CapitaLand Investment’s The Ascott Limited plans to double its portfolio in India to 12,000 units by 2028, up from the 5,500 units it had as of end-2024. Ascott CEO Kevin Goh announced this ambitious goal at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai. At the event, Goh spoke on the topic of Redefining Global Living, expounding on how global living today has become a reflection of how people live, work, and travel seamlessly across borders. On the back of favourable growth prospects in the Indian hospitality market, Ascott is riding on a strong momentum in the first quarter of 2025 with three signings in Goa, Lucknow and Thanjavur. These signings collectively added 600 units to Ascott’s India portfolio, which now totals about 6,100 units across 22 properties, including both operating and in the pipeline. An important market Goh explained that India is an important inbound and outbound market for Ascott, with strong growth potential as it continues to evolve into one of the world's largest economies. He said: “With a rapidly growing middle class, increasing disposable incomes and improving infrastructure, India’s dynamic economic landscape is unlocking immense opportunities for its travel and hospitality sectors. Despite promising prospects, the supply of branded hotel rooms in India remains limited, creating a significant demand-supply gap that opens up tremendous potential for Ascott to contribute to the country’s hospitality growth.” Goh further added that, as diverse demand drivers fuel India’s hospitality sector, Ascott is well-positioned to capitalise on this growth with Ascott’s flex-hybrid model that seamlessly adapts to shifting demand across both transient and extended stays. This competitive edge is reinforced by Ascott’s multi-typology brand strategy, enabling us to serve every type of guest with a diverse portfolio ranging from select- to full-service operations. He said: “Backed by the in-market expertise of our local team in India, we are confident in delivering exceptional value to our owners while enhancing the guest experience. As we strengthen our brand presence in India, we believe the country will become a key source market for Ascott’s properties worldwide.” A dual focus For his part, Ascott’s chief operating officer for EMEA, South Asia, and China Lee Ngor Houai declared that, moving forward, the company’s growth strategy in India will be driven by a dual focus on geographic and brand expansion. Lee explained: “Currently, 85 percent of Ascott’s operating portfolio in India are concentrated in Tier-1 cities such as Bangalore, Chennai and Hyderabad. We will continue to strengthen our presence in these high-performing Tier-1 cities, while also expanding our focus on the fast-growing Tier-2 and Tier-3 cities. This strategy is driven by growing interest in India’s lesser-travelled destinations and the significant under-penetration of branded hotels in these cities.” The company is also growing brands it already has in India; namely Ascott, Citadines, Oakwood, and Somerset. Ascott also looks forward to launching more of its multi-typology brands into the Indian market. Lee said: “We see strong potential in introducing lyf, our experience-led social living brand, to tap into the rise of India’s urban millennial and Gen Z workforce, along with the growing digital nomad trend. As demand for flexible, community-focused stays grows, lyf aligns perfectly with India’s next-gen travellers. Furthermore, our collection brands, The Unlimited Collection and The Crest Collection, are poised to meet the rising demand for immersive cultural and heritage experiences in India, turning stays into unforgettable journeys.” Leveraging opportunities to connect with industry partners and owners, Ascott’s development team was present at the Hotel Investment Conference-South Asia (HICSA) in Mumbai this week to showcase the group’s portfolio of brands while expanding on business opportunities.
Ascott Embassy Bangkok
Ascott Embassy Sathorn Bangkok, South Sathon Road, Thung Maha Mek, Sathon, Bangkok, Thailand Thailand
Ascott International Management (Thailand) Limited
Bangkok, Thailand
Ascott International
Finlayson Green, Ascott International Management Pte Ltd., Singapore Singapore
The Ascott Thailand
The Ascott Thailand, 219/43, 12 Floor Asoke Tower, Soi Sukhumvit 21, Asoke Rd., Klong Toei Nuea, Wattana (3.56 km) กรุงเทพมหานคร 10110
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