Ascott, the wholly owned lodging business unit of CapitaLand Investment (CLI), achieved a record year in 2025, signing 19,000 units across 102 properties, representing 27% year-on-year growth in new signings. The company’s asset-light expansion was led by higher-fee segments such as resorts, supported by accelerating franchise momentum and strong conversion activity.
The 2025 performance marked a major milestone for Ascott as it continued to execute its flex-hybrid model and multi-typology brand strategy, positioning the company to capture growth across diverse hospitality segments while strengthening revenue visibility.
Global Expansion and Growing Footprint
In 2025, Ascott expanded its global presence by entering more than 10 new cities across Asia Pacific and Europe, increasing its footprint to over 230 cities in more than 40 countries. The company now operates and has under development more than 1,000 properties with over 176,000 units globally.
Ascott’s growth was driven by strong demand across business, leisure, extended stay, and lifestyle travel segments, reflecting evolving consumer preferences for flexible living and travel.
CEO: Strong Pipeline to Exceed Fee Target
Kevin Goh, Chief Executive Officer, Ascott, said that 2025 marked a key milestone for the company as it accelerated asset-light signings and strengthened revenue visibility. He noted that with the new signings, Ascott now has the embedded income to exceed its S$500 million fee target as pipeline projects become operational.
Goh highlighted that Ascott’s flex-hybrid model and multi-typology brand strategy enable the company to optimize performance for property owners across market cycles. He also cited disciplined investments in loyalty, technology and business development as key enablers to capture growth in higher-fee segments including resorts, branded residences, MICE (Meetings, Incentives, Conventions, Exhibitions) and wellness.
He expressed gratitude to Ascott’s global teams and partners, and reiterated the company’s ambition to be the preferred hospitality company.
Chief Growth Officer: Travel as Lifestyle Drives Flex-Hybrid Demand
Serena Lim, Chief Growth Officer, Ascott, said travel is evolving into a lifestyle, with consumers seeking greater flexibility and choice in how they live, work and explore. Guided by insights from owners and guests, Ascott has pursued a deliberate growth strategy anchored in its flex-hybrid model and a differentiated suite of flexible living offerings.
Lim said the company was heartened by the robust growth in 2025, driven by strong owner commitment reflected in portfolio deals across multiple brands. She noted that approximately 30% of new signings came from existing partners expanding with Ascott, underscoring trust in the company’s platform and its ability to meet diverse traveller and resident needs worldwide.
Strategic City Expansion
In 2025, Ascott entered more than 10 new cities in Asia Pacific and Europe, including notable first properties in Wellington and Taipei, resort destinations such as Phuket, Phu Quoc and Langkawi, as well as emerging Tier-2 cities like Lucknow and Thanjavur in India.
Wellington, New Zealand: lyf Debut Beyond Quest
A key milestone was Ascott’s expansion into New Zealand beyond its Quest franchise, with lyf making its debut in Wellington. Construction is expected to commence by the end of 2026, with the 108-room property set to transform six floors of a commercial building in the CBD.
The property will incorporate lyf’s signature social spaces and interconnected rooms for group travellers. Located in the heart of Wellington’s business hub, the property will embody lyf’s experience-led social living philosophy, providing an accessible base for travellers, professionals and long-stay guests to connect with Wellington’s vibrant urban energy.
Taipei, Taiwan: Ascott Flagship Enters Nangang
Ascott also entered Taipei, launching its flagship brand with the 185-room Ascott Nangang Taipei in Nangang Software Park, one of the city’s premier business districts. Scheduled to open in 1Q 2027, the serviced residence is part of a prime mixed-use development that also houses Taiwan Fertiliser headquarters and multinational companies including HP, Yahoo, Philips and Intel.
The property is supported by a vibrant MICE and tourism ecosystem, with direct footbridge access to the Nangang Exhibition Centre, Taipei Nangang Exhibition Centre metro station and LaLaport shopping mall. The Nangang High Speed Rail station is also within walking distance.
Designed for both short and extended stays, the property builds on Ascott’s expertise in transit-oriented, mixed-use developments and supports its continued growth in the market.
Resort Portfolio Expansion
Capitalising on strong leisure travel demand, Ascott’s multi-typology brand strategy drove 15 resort signings in prime locations such as Phuket, Phu Quoc, Nha Trang and Bali, expanding its portfolio in resort destinations to over 50 properties.
Notable additions included the 693-unit HARRIS Resort Cam Ranh, marking the brand’s first entry into Vietnam. Ascott also signed a 250-unit lyf and a 120-unit Somerset at Lagoon City Seville, Spain, a mixed-use development anchored by an 18,000-square-metre man-made lagoon.
Branded Residences Growth
The company expanded its branded residences portfolio by partnering with quality developers on two new properties, adding over 1,000 units:
- Residences at Ascott Abov Patong Phuket, next to Ascott Abov Patong Phuket Resort
- Oakwood Premier Branded Residences Luohu Shenzhen, co-located with Oakwood Premier Luohu Shenzhen
Leveraging its hospitality expertise and brand recognition, Ascott is well-placed to deliver lifestyle-oriented residences that meet growing demand in Asia Pacific while generating fee growth. Co-locating branded residences with its hotels enhances operational and marketing synergies, diversifies revenue streams and strengthens Ascott’s value proposition to owners and investors.
Franchise Growth Momentum
More than a quarter of the units signed in 2025 were under franchise agreements, supporting Ascott’s asset-light expansion.
Franchise momentum in East Asia accelerated as the company strengthened its regional pipeline. Five Quest properties were secured in China through Ascott’s joint venture with Jin Jiang, alongside four franchise agreements to expand Citadines’ presence in the country.
The largest franchise signing of the year was the 510-key Oakwood in Gangneung, South Korea, a resort-led development in Gangneung’s Cultural Olympic Special Zone with strong connectivity to Seoul, demonstrating Oakwood’s scalability in leisure and extended-stay markets.
In other regions, Ascott’s Quest franchise contributed five new signings in Australia, while franchise agreements for the Oakwood, Somerset and The Unlimited Collection brands in Europe and Africa further strengthened the company’s global footprint.
Conversions-Led Growth
Over 38% of units signed in 2025 were conversions, reflecting owners’ preference for faster, lower-risk routes to market and Ascott’s ability to execute conversions efficiently across its diversified brand portfolio.
Recent conversions, including Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and lyf Zhangjiang Shanghai, were completed within months of signing, demonstrating Ascott’s capability to reposition assets swiftly and accelerate revenue generation for owners.
Brand Performance and Expansion
Ascott’s brands achieved milestones in scale and geographic reach in 2025:
- Citadines surpassed 200 properties globally with 17 new signings, boosted by its conversion-friendly positioning
- Oakwood secured 16 signings, maintaining strong owner appeal across business, leisure and extended-stay segments
- Ascott’s collection brands continued geographic expansion, with The Unlimited Collection expanding in Africa and Europe, while The Crest Collection entered the Middle East
Following the signing of The Unlimited Collection in Casablanca, Morocco, Ascott’s portfolio in the country now comprises 10 operational and pipeline properties across Casablanca, Tangier and Marrakech.
The flagship Ascott brand recorded 10 new signings, expanding its global portfolio to 87 properties, including operational and pipeline assets.
Notable additions included:
- Ascott Coronation Square Johor Bahru, securing a flagship position at the Johor-Singapore Special Economic Zone with direct connection to the upcoming Rapid Transit System Link
- Ascott Shenton Way Singapore, the brand’s third property in the city-state
Opening as a dual-format hotel and serviced residence, Ascott Shenton Way Singapore will integrate wellness-driven experiences with sustainable operations, showcasing the brand’s evolution in a prime CBD location.