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Ascott ramps up Oakwood signings
CapitaLand Investment’s lodging business unit The Ascott Limited (Ascott) accelerated the expansion of its Oakwood brand, signing 16 new properties in 2024. This represents a 30 percent increase in signings over the previous year. The 2024 roster includes four Oakwood Premier signings since Oakwood’s brand early last year. Riding the growing demand for bleisure travel, the brand refresh initiative enhanced Oakwood's appeal to guests blending business and leisure in their travels by offering the comforts of home and beyond. A working model The rapid growth of the Oakwood brand is anchored in Ascott's flex-hybrid hotel-in-residence model, which seamlessly combines the comforts of a fully serviced apartment with the luxuries of a hotel stay. Offering a variety of room configurations to accommodate diverse travel needs and lengths of stay, Oakwood properties also provide a wide range of ancillary services, including dining options and meeting facilities. The Oakwood portfolio now boasts of nearly 100 properties, solidifying its appeal to bleisure travellers. Oakwood's global footprint spans 14 countries and 50 cities, with a strong presence in key gateway cities such as Tokyo, Jakarta, Beijing and Manila, as well as popular resort locations. New in the neighbourhood New openings in 2024 include Oakwood Suites Chongli, a ski resort in the winter sports hub of Chongli in Zhangjiakou City, Hebei Province, China; the all-villa Oakwood Ha Long, located in the heart of Ha Long City, a gateway to Vietnam's UNESCO World Heritage site, Ha Long Bay; and Oakwood Hotel & Apartments Grand Batam, offering tranquil water views on Indonesia's Batam island. These openings mark the brand's debut in these prime resort destinations. Ascott’s chief growth officer Serena Lam said: "Oakwood remains one of the fastest-growing brands in Ascott's portfolio, driven by its strong positioning to capitalise on the increasing popularity of bleisure travel. With a 30 percent increase in signings in 2024 compared to 2023, Oakwood is well-placed to meet the needs of guests seeking a seamless balance between work and leisure. These new signings continue to drive Oakwood's expansion into the resort sector, including the introduction of Oakwood Jimbaran Villas & Residences in Bali, one of the region's most sought-after resort destinations. Beyond the volume of signings, we are seeing greater interest from property owners in the higher-tier Oakwood Premier brand following its recent refresh, with one in every four Oakwood signings in 2024 being an Oakwood Premier property. Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali and Shenzhen." Newly-signed Oakwood Premier properties include Oakwood Premier Adelaide, Oakwood Premier Luohu Shenzhen and a new property in Bali. In Singapore, the Oakwood Premier brand makes its return with Oakwood Premier Draycott Singapore, located in the Orchard Road precinct. This addition will expand Oakwood's presence in Singapore to two properties, joining Oakwood Studios Singapore.
Ascott acquires Oakwood worldwide to fast-track growth to over 150,000 units globally
The Ascott Limited (Ascott) has announced it is acquiring Oakwood Worldwide (Oakwood). The acquisition increases Ascott’s global portfolio by 81 properties and about 15,000 units. Oakwood’s approximately 8,500 operational units are expected to immediately contribute to Ascott’s recurring fee income streams upon completion of the transaction slated in 3Q 2022. Ascott’s acquisition of Oakwood will leapfrog Ascott’s global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries. It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh as well as Washington D.C. in the United States of America (USA). Recently named the ‘Best Serviced Residence Brand’ in DestinAsian Readers’ Choice Awards 2022, Oakwood’s award-winning portfolio includes flagship properties Oakwood Premier Tokyo and Oakwood Premier Coex Center Seoul which were ranked top 10 properties in their respective countries in the DestinAsian awards. New properties such as Oakwood Premier Melbourne and Oakwood Hotel Oike Kyoto, will also add to the group’s destination highlights. Kevin Goh Mr Kevin Goh, CLI’s Chief Executive Officer for Lodging, said: “This acquisition of Oakwood is part of Ascott’s roadmap to playing a bigger role in the lodging market. There are significant synergies between Ascott and Oakwood, given our complementary footprint and product offerings. We intend to build on the strong reputation and heritage of the Oakwood brand, especially in markets across Southeast Asia, North Asia and North America. Oakwood will continue to grow alongside Ascott’s current portfolio of global brands as we continue to build growth momentum for our lodging business. We will be able to leverage Ascott’s extensive expertise as a global lodging player to deliver greater value to our expanded network of loyal customers and property owners.” “Besides strategic alignment, this acquisition is also notable to Ascott commercially. Ascott’s acquisition of Oakwood brings about an immediate boost to our units under management and franchise contracts. The Oakwood portfolio will accelerate the growth of our asset-light business, with added recurring fee income streams, expanded lodging offerings and increased customer base. The strategic moves we have made in the last few years, such as our investments in Quest, Synergy and TAUZIA have charted an unprecedented growth path for Ascott,” added Mr Goh.
Reimagining hospitality experience! Oakwood unveils global ‘Clean360’ programme
Oakwood, a wholly-owned subsidiary of Mapletree Investments (Mapletree), announced the launch of Oakwood Clean360, a global programme that details the brand’s commitment to meeting the health and safety challenges of COVID-19. “The world has changed and we must stay vigilant in confronting the realities of a global health pandemic. What has not changed is that Oakwood will continue to provide exemplary service and hospitality. The Oakwood Clean360 programme is focused on more than cleaning and hygiene; it provides a holistic approach to giving our guests a safe sanctuary to call home,” said Dean Schreiber, chief executive officer of the group. “The health, safety and well-being of our guests, associates and global communities are our number one priority. By enhancing our already-rigorous procedures with new guidelines and input from third-party experts, Oakwood is reimagining the hospitality experience and redefining its cleaning and safety standards for today’s world,” added Schreiber.
Oakwood Hotel & Residence Bangkok Sathorn
Oakwood Hotel & Residence Bangkok, South Sathorn Road, Yan Nawa, Sathon, Bangkok, Thailand
Oakwood Residence
Oakwood Residence Sukhumvit 24 Bangkok, Sukhumvit Road, Klongton, Klongtoey, Bangkok, Thailand
Oakwood Sriracha
Oakwood Hotel & Residence Sri Racha, Si Racha Nakhon 3, Si Racha District, Chon Buri, Thailand
Oakwood Hotel Journeyhub
Oakwood Hotel Journeyhub Phuket, Patong Kathu Phuket, Thailand Thailand
Oakwood Ho Chi Minh City
Oakwood Apartments Ho Chi Minh City, Do Thanh Resident, Phường 4, District 3, Ho Chi Minh City, Vietnam Vietnam
Oakwood Surabaya
Surabaya Indonesia
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