Ascott marked its entry into Taipei with the signing of the 185-room Ascott Nangang Taipei (Picture: The Ascott)
The Ascott, the wholly-owned lodging business of CapitaLand Investment (CLI), signed a record 19,000 units across 102 properties in 2025. This represents a 27% y-o-y growth in new signings, underpinned by strong franchising and conversion activity, the company says in a Feb 9 release.
“2025 marked a key milestone for Ascott as we accelerated asset-light signings and strengthened revenue visibility,” says Kevin Goh, CEO of Ascott. “With these new signings, we now have the embedded income to exceed our $500 million fee target as pipeline projects turn operational.”
The new signings include Ascott’s expansion into more than 10 new cities across Asia Pacific and Europe. In Wellington, New Zealand, Ascott will be debuting its lyf brand via a 108-room property that will open by the end of 2026. Ascott will also launch the 185-room Ascott Nangang Taipei in Taiwan, scheduled to open in 1Q2027.
Ascott will be making its debut in several resort destinations such as Phuket in Thailand, Phu Quoc in Vietnam, and Langkawi in Malaysia. The company says it inked deals for 15 resort properties in 2025, backed by strong leisure travel demand.
According to Ascott, over a quarter of the units Ascott signed in 2025 were under franchise agreements, led by properties in China, South Korea and Australia. Meanwhile, over 38% of units signed last year were conversions, including units at Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and lyf Zhangjiang Shanghai.
Including the new signings, Ascott now operates or has under development over 1,000 properties with 176,000 units globally. The units are located across more than 230 cities in over 40 countries.