The Ascott Limited, the wholly owned lodging business unit of CapitaLand Investment (CLI), is accelerating its growth in the resort sector as it seeks to capture the surge in global leisure travel.
Currently, the group has around 50 resort properties in operation and under development worldwide, supported by 11 new signings in the past 10 months through management and franchise agreements. These resorts account for about 5 per cent of Ascott’s global portfolio of more than 1,000 properties, underscoring a sharpened focus on the fast-growing leisure segment. This expansion is driven by Ascott’s multi-typology brand strategy, which adapts its well-established brands — Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection and The Unlimited Collection — for resort destinations. Among the upcoming openings is the Ascott Abov Patong Phuket Resort, marking Ascott’s debut in Phuket. Located just 150 metres from the famous Patong Beach, the resort will offer 254 rooms, extensive leisure facilities and event venues. The development also includes a 227-unit branded residence, Residences at Ascott Abov Patong Phuket. Recent signings highlight Ascott’s push into Asia and the Middle East’s leading leisure hotspots. These include prime beach destinations such as Phuket’s Patong Beach, Bali’s Jimbaran Beach and Marjan Island in Ras Al Khaimah. In Vietnam, Ascott is strengthening its presence in Phu Quoc — ranked the world’s second-best island — and Nha Trang, often referred to as the “Riviera of the South China Sea”. Expansion also extends to emerging destinations including Cam Ranh, Sam Son, Labuan Bajo in Indonesia (gateway to Komodo National Park, a UNESCO World Heritage site), and Gangneung in South Korea, host city of the 2018 Winter Olympics. Serena Lim, Chief Growth Officer at Ascott, said: "As leisure travel continues to outpace overall tourism growth, we are seeing strong momentum from property owners eager to partner with us in the resort space. Our flex-hybrid model optimises returns and mitigates risk in dynamic leisure markets by serving both short and extended stays within one operational framework. Combined with our multi-typology brand strategy, this allows us to align the right brand and format to each resort, delivering differentiated, locally attuned guest experiences while staying agile to evolving travel trends."