Ascott, the wholly owned lodging business unit of CapitaLand Investment (CLI), has signed seven new properties through franchise and management agreements totalling nearly 1,100 units across Vienna and Seville, marking a significant milestone in its ongoing European expansion.
These additions will
expand Ascott’s European portfolio to 64 properties with nearly 8,500 units
across 26 cities in 10 countries, including both operational and pipeline
properties.
Globally, Ascott’s
portfolio now totals over 1,000 properties with over 175,000 units.
The signings were
announced at the official opening of lyf Gambetta Paris, Ascott’s first lyf
property in France.
Following a successful
soft launch, the property has generated positive guest feedback and built an
engaged community, demonstrating the rising appeal of the experience-led social
living brand, now with eight properties across Europe, both operational and in
development.
The opening builds on
strong operational momentum across Ascott’s European portfolio, with three
properties under The Unlimited Collection brand launched in recent months and
four lyf openings coming next year.
Kevin Goh, Chief Executive
Officer, Ascott, said: “Europe is a cornerstone
of Ascott’s global growth strategy, offering a resilient, high-yield
market underpinned by strong tourism fundamentals and fragmented supply, where
a significant portion of quality assets remain unbranded. Our expansion in
Vienna, entry into Seville and growing lyf and The Unlimited
Collection presence in Europe reflect the increasing demand from property
owners and investors for trusted operators with global scale, proven brand architecture
and robust distribution capabilities. By
deepening Ascott’s asset-light model in Europe through franchise and
management agreements, we are scaling efficiently while building long-term
brand equity across one of the world’s most attractive hospitality
markets.”
Expanding through Strategic Partnerships in Vienna and Seville
The five new signings in Vienna deepen Ascott’s partnership with property
developer VIE Trust Real Estate Group, with whom it already partners on three
properties: Citadines South Vienna, lyf Schönbrunn Vienna and Somerset
Schönbrunn Vienna.
They will add 750
units across various brands to Ascott’s portfolio in Vienna, including a second
lyf-branded property opening by end-2026.
Located in the city’s 15th district, the
upcoming 150-unit lyf property is conveniently adjacent to the train station
offering connections to major international and regional destinations, with
seamless access to a shopping centre.
These additions will
bring Ascott’s Vienna portfolio to nine properties totalling nearly 1,400
units, strengthening its position as one of the city’s leading international
hospitality operators.
Meanwhile, the two
Seville signings extend Ascott’s partnership with real estate developer Forty
Management SA, with whom it is also managing a project under The Crest
Collection in Bucharest.
The two
properties – a 250-unit lyf and a 120-unit Somerset – will be part of the
12.5-hectare mixed-use mega project Lagoon City Seville anchored by an
18,000-square-metre man-made crystalline lagoon surrounded by beaches.
Located just 10 minutes from Seville’s city
centre in an affluent area and adjacent to an 18-hole golf course, the resort
development addresses the city’s lack of coastal access despite its hot, dry
climate.
Besides the lyf and
Somerset properties managed by Ascott, the resort development will include
residential apartments and villas, a convention centre and many recreational
amenities, restaurants and bars.
Scheduled to open at the end of 2028, the two
Seville properties mark Ascott’s first beachside resort project in Europe and
will expand the company’s Spanish portfolio from a single property in Barcelona
(Citadines Ramblas Barcelona) to three properties with over 500 units.
Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa, South Asia and China, Ascott, said: “The momentum across our European portfolio reflects a disciplined expansion strategy focused on destinations where quality accommodation meets authentic demand. From lyf’s experience-led social living spaces to The Unlimited Collection’s culturally rooted hotels and our established Citadines, Somerset and The Crest Collection brands, each has a clear identity yet remains adaptable across formats and traveller segments. Our multi-typology brand strategy enables us to deploy brands across diverse formats, from urban centres to resort destinations, expanding our reach while maintaining brand integrity. Whether in gateway cities or emerging leisure destinations, we remain committed to creating stay experiences that connect guests meaningfully to the places and communities they visit.” -TradeArabia News Service