Ascott scales up resorts portfolio

Artist's impression of Ascott Abov Patong Phuket Resort (Picture: The Ascott Limited)
Artist's impression of Ascott Abov Patong Phuket Resort (Picture: The Ascott Limited)
The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment, is scaling up its global resort footprint. The company has inked management and franchise agreements for 11 resorts in the past 10 months, bringing its portfolio of resort destination properties in operation and under development to around 50 worldwide. These represent about 5% of Ascott’s global portfolio of 1,000 properties.
The recently signed properties include Ascott Abov Patong Phuket Resort, which marks Ascott’s debut in the Thai beach destination. Ascott will also debut in Marjan Island, located in Ras Al Khaimah in the UAE, with Al Mahra Resort by The Crest Collection.
Other properties signed include Oakwood Jimbran Villas and Residences Bali and lyf Labuan Bajo in Indonesia, as well as Somerset Nha Trang and Citadines Selavia Phu Quoc in Vietnam. Ascott will also introduce its Oakwood brand to Lagoon Town, a resort complex under development in Gangneung, South Korea.
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“As leisure travel continues to outpace global tourism growth, we are seeing strong momentum from property owners eager to grow with us in the resort space,” says Serena Lim, chief growth officer at Ascott. “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.”
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