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The Ascott Limited fast-tracks expansion for The Crest Collection
CapitaLand Investment’s hospitality arm The Ascott Limited (Ascott) is accelerating the global expansion of its European-born luxury brand The Crest Collection in response to growing demand from luxury travellers for distinctive, heritage-rich stays. Over the past six months, the brand has gained strong momentum across East Asia and the Middle East, adding over 1,200 units from four new signings and one opening. The portfolio now comprises 16 properties with over 2,700 units, both operational and in the pipeline, across 11 countries and 13 cities. As a key brand within the Ascott Star Rewards (ASR) programme, The Crest Collection enhances the diversity of the ASR portfolio, offering members a broader range of luxury options and more opportunities to experience heritage-inspired stays around the world. A growing number of luxurious properties Among the newest additions in East Asia is SEN/KA TOKYO by The Crest Collection, set to open in the second half of 2029, marking the brand's debut in Japan. Also contributing to growth in the region are two developments in China: Hong Yuan Hotel by The Crest Collection, which opened in Haikou, Hainan Province, at the end of last year, and a property slated to open by mid-2026 in Wuhan's Donghu New Technology Development Zone, commonly known as Optics Valley. In the Middle East, Al Mahra Resort by The Crest Collection, the brand's first resort and its debut in the United Arab Emirates, will open in early 2027, to be followed by the brand's first property in Saudi Arabia, opening in Riyadh in 2028. This expansion into East Asia and the Middle East builds on the brand's growing traction in Southeast Asia. La Clef Bangkok by The Crest Collection, set to open in mid-2025, will become the brand's fourth property in the region, following the 2023 debut of The Grand Mansion Menteng by The Crest Collection in Indonesia, The George Penang by The Crest Collection in Malaysia, and The Robertson House by The Crest Collection in Singapore. Meanwhile, the brand's seven other operational and pipeline properties are located across Europe, where The Crest Collection was first established in 2016. A rising interest in luxury accommodations Ascott’s chief growth officer Serena Lim opines that interest in luxury stays is increasing within Asia and the Middle East, driven by travellers seeking meaningful connections to the region's rich culture and heritage. Lim said: “The Crest Collection meets this aspiration with its 'A Story Behind Every Door' brand promise, delivering culturally immersive experiences enriched by each property's distinctive identity, while enabling owners to tap into the strength of Ascott's global commercial ecosystem.” Lim added that The Crest Collection is highly conversion-friendly, adapting seamlessly across serviced residences, hotels, resorts and other accommodation types. As she puts it: “While recent signings highlight new builds such as the brand's first resort, its adaptability also makes it ideal for property conversions that enable swift time-to-market. By tailoring solutions to the unique demands of each location, our market-driven approach empowers us to respond to evolving traveller expectations with agility and deliver sustained value for owners." This acceleration of expansion is timely, given how the global luxury travel sector is projected to grow from US$1.4 trillion in 2024 to US$2.2 trillion by 2030, driven not just by affluence among the wealthy but also by younger travellers who are willing to pay top dollar for meaningful experiences. With luxury travellers drawn to destinations that excite, along with surprising environments and experiences that speak to their individuality, it is clear that the true essence of luxury lies in celebrating unique stories rather than uniformity.
The Ascott Limited donates significant contribution to Save the Children
CapitaLand Investment’s hospitality arm The Ascott Limited (Ascott) recently advanced its disability inclusion efforts with a contribution of S$400,000 to global non-profit organisation Save the Children. This initiative is funded by CapitaLand Hope Foundation (CHF), the philanthropic arm of CapitaLand Group, under its CapitaLand AccessABLE Programme. The partnership was officially announced at a special concert held at Somerset Rama 9 Bangkok, Thailand, on Saturday, 17th May, in celebration of Global Accessibility Awareness Day (GAAD) which was observed globally on Thursday, 15th May. Featuring orchestral and mime performances by artists with disabilities, the event drew about 100 attendees and highlighted disability inclusion efforts within Thailand’s arts and hospitality sectors. Proceeds from ticket sales were used to donate wheelchairs to the Foundation for Children with Disabilities (Thailand) and white canes to the Thai Blind People’s Foundation. As part of the event, Dots Coffee also set up a kiosk to promote its business and highlight its inclusive employment model, which empowers individuals with visual impairments through meaningful work in the F&B sector. A meaningful initiative The donation will support two programmes in Thailand and the United Kingdom, benefitting 160 children and youths with disabilities by equipping them with essential skills, confidence and opportunities to participate in social, educational and economic activities. According to CLI senior advisor and CHF executive director Tan Seng Chai: “CHF is committed to build resilience in communities where CapitaLand operates, through supporting initiatives that promote education, health and well-being for children, youth and seniors. Through the CapitaLand AccessABLE Programme, we aim to enrich the lives of persons with disabilities by enhancing their independent living skills, fostering social engagement and helping them realise their full potential.” At the same time, this meaningful collaboration between Ascott and Save the Children also creates meaningful opportunities for Ascott staff to contribute directly, from identifying accessibility barriers to co-developing practical solutions. As Tan puts it: “These hands-on experiences deepen CapitaLand’s strong culture of volunteerism and reflect how our people are actively shaping real, lasting change on the ground.” The programme in Thailand In Thailand, the Ascott–Save the Children partnership is supporting the development of a tailored skills curriculum for 60 visually impaired youths, equipping them with tools for long-term success in the workforce. The programme focuses on workplace readiness, covering key skills such as communication, teamwork and problem-solving. By the end of the programme, around half of the participants are expected to secure employment with Dots Coffee, a leading social enterprise run entirely by individuals with visual impairments, while the rest will continue to receive job placement support. Save the Children’s executive director in Thailand Guillaume Rachou said of the partnership: “We are honoured to work with Ascott and CHF to help break down the barriers that may hinder visually impaired youth from finding meaningful work. Through this partnership, we are developing and piloting a life skills training programme tailored for youth with visual impairments, helping them build confidence and key abilities such as communication, teamwork and problem-solving to thrive in the workplace and in life. This initiative is not just about preparing youth for jobs; it is about changing perceptions and creating a more inclusive society.”
The Ascott Limited boosts talent development to support upcoming properties
CapitaLand Investment’s lodging arm The Ascott Limited (Ascott) is ramping up talent development to support the opening of more than 300 new properties by 2028. This global expansion is expected to create more than 12,000 new jobs, including over 1,500 property leadership roles. In order to support such extensive growth, the company is launching Ascott Accelerate, a structured talent management programme that fast-tracks high-potential associates into hospitality leadership positions. This will be complemented by a digital learning platform offering flexible and accessible development opportunities for associates across all levels. These new initiatives are part of the Ascott Global Academy for Excellence (AGAX), a comprehensive training platform launched in 2024 to build a future-ready workforce and support Ascott’s target of achieving over S$500 million in fee-related earnings by 2028. AGAX is led by the Ascott Learning Council which is jointly chaired by chief strategy officer and managing director for Southeast Asia Wong Kar Ling and chief operating officer for EMEA, South Asia, and China Lee Ngor Houai. According to Lee: “At Ascott, our vision is to be the preferred hospitality company, enriching global living with heartfelt experiences. To deliver on this, we have expanded our portfolio beyond serviced residences to include hotels, resorts, social living spaces and branded residences, offering guests more choices under our brand promise ‘Stay Your Way.’ Our multi-typology brand framework not only caters to the diverse needs of today’s travellers, but also empowers our associates to develop broad-based expertise and thrive across different accommodation formats. As our business continues to grow and diversify, we remain deeply committed to developing our people, ensuring they have the skills and support to grow with us. Looking ahead, talent development will remain central to our strategy as we expand globally, with over 300 new properties set to become operational by 2028.” Onward, always upward In 2024, Ascott continued its upward trajectory, achieving a third consecutive year of record fee-related earnings at S$343 million, reflecting a 12 percent year-on-year increase on a recurring basis. This performance was driven by a six percent rise in revenue per available unit (RevPAU) and the opening of a record 11,700 units across 54 properties. Today, Ascott’s global footprint spans more than 990 properties in over 230 cities, with two-thirds already operational. The company is advancing its growth through a multi-typology brand strategy designed to scale and diversify its presence across key markets. Malaysia exemplifies this approach with a portfolio of more than 40 operational and currently developmental properties spanning serviced residences, hotels, resorts, social living spaces and branded residences. Fittingly, Ascott chose Penang, home to 21 of these properties, as the launch site for Ascott Accelerate and its new digital learning platform during the Ascott Learning Festival, reinforcing Malaysia’s role in supporting the company’s broader growth strategy. Wong said of this programme: “This programme supports associates from entry-level roles to key property leadership positions, such as Residence Manager and General Manager. Through mentorship, on-the-job training, project-based learning and e-learning, Ascott Accelerate will shape the next generation of hospitality leaders, equipping them with the capabilities to drive our continued success. As the training needs of our organisation evolve, we are also exploring partnerships with leading hospitality institutions to enhance the professional credentials of our team. We welcome individuals with a passion for hospitality to join us at Ascott, where opportunities to grow and thrive are part of our dynamic journey.” She added that hospitality is about connecting people across places, cultures and possibilities. Wong said: “At Ascott, we believe those connections should begin within our own teams. Just as we aspire to offer global living to our guests, we are equally committed to giving our associates the opportunity to experience the global nature of our business, whether through international assignments or globally connected platforms like our learning festivals. These initiatives reflect not only the scale of our operations but also why many are drawn to hospitality: a passion for people, culture and discovery.”
Ascott and Chelsea Celebrate the 2024/25 CFC Tour in Bangkok
Caption: Chelsea Football Club legend Gianfranco Zola (first row, second from right) joined Ascott’s Chief Executive Officer Kevin Goh (third from right) alongside over 250 Chelsea supporters and Ascott Star Rewards members at an exclusive watch party held at Hobs at ICONSIAM, for the live screening of the Chelsea vs.Everton match on Saturday, 26 April. The power-packed two-day event brought together hundreds of passionate Chelsea fans and Ascott Star Rewards members from across the region, who took part in an exciting line-up of activities and enjoyed exclusive access to club legend Gianfranco Zola Chelsea Football Club, in collaboration with presenting partner The Ascott Limited (Ascott), brought The Blues to Bangkok, Thailand, this past weekend with the fourth and final stop of The Famous CFC tour for the 2024/25 season. Ascott also hosted the first stop of this season’s global fan experience in Singapore last December. Both events featured special appearances by club legend Gianfranco Zola, bookending the tour with two unforgettable experiences. As Chelsea’s Official Global Hotels Partner and the presenting partner of The Famous CFC for this visit to Bangkok, Ascott played a key role in bringing this thrilling event to life, underscoring its ongoing commitment to delivering exceptional experiences for both Chelsea fans and Ascott Star Rewards members. Marking Chelsea’s return to the city for the first time since 2017, the Bangkok edition of The Famous CFC took place over the weekend of 25 and 26 April 2025 at several venues, including Ascott Embassy Sathorn Bangkok, Somerset Rama 9 Bangkok and lyf Sukhumvit 8 Bangkok – Ascott’s flagship properties in the city. The two-day event featured a watch party for the highly anticipated Chelsea vs. Everton match, along with exclusive meet-and-greet opportunities with Chelsea legend Gianfranco Zola. Gianfranco Zola said: “I had an amazing time at The Famous CFC in Bangkok – my second time with Ascott – and it was a true pleasure. The Chelsea fans in Bangkok were incredibly enthusiastic, and I am grateful for the opportunity to connect with them on such a personal level. The energy they brought was simply unbeatable and the trip was capped off with an important win at Stamford Bridge!’ Casper Stylsvig, Chelsea's Chief Revenue Officer, said: “The second edition of The Famous CFC with Ascott was a resounding success in Bangkok, and we are grateful for Ascott's support in delivering the many events. Their global network and resources have created new opportunities for us to connect with our fans overseas, particularly in Asia, and the weekend really highlighted the value of this - for us as a club watching our match against Everton with our passionate local supporters, delivering unforgettable experiences for Ascott Star Rewards members and also creating memories with Gianfranco and the local community groups from Childline Thailand.” Caption: Chelsea Football Club legend Gianfranco Zola was welcomed by Chelsea fans and Ascott Star Rewards members at an exclusive pre-watch party held at Ascott Embassy Sathorn Bangkok on Saturday, 26 April. Tan Bee Leng, Chief Commercial Officer, Ascott, said: “The incredible turnout and energy at The Famous CFC in Bangkok is a testament to the strong synergy between the Ascott and Chelsea brands. From the exclusive meet-and-greets with Chelsea legend Gianfranco Zola to immersive fan activities, every moment was thoughtfully curated to bring joy and lasting memories to our Ascott Star Rewards members. It was a weekend that showcased the powerful connection between sports, community, and hospitality. The event reflects Ascott’s commitment to redefining hospitality on a global stage, by transforming a hotel stay into a heartfelt experience—one where our guests feel truly rewarded, celebrated, and part of something bigger. We are excited to bring this event and other extraordinary experiences to even more cities worldwide, delivering the same passion, energy, and warmth to our loyalty members and Chelsea fans around the world.” “We are thrilled to carry this momentum into the upcoming opening of lyf Stamford Bridge London in the second half of this year. With its bold, experience-led and community-driven concept, lyf is the perfect match for the indomitable spirit of Chelsea and the vibrant pulse of Stamford Bridge. More than just a place to stay, the hotel will offer a social living experience that embodies the club’s passion. We cannot wait to welcome guests to a stay that celebrates the heart of London and Chelsea,” she added. Highlights from The Famous CFC – Bangkok Edition In line with The Famous CFC’s cornerstone of giving back to local communities, the Bangkok edition kicked off on Friday, 25 April, with Gianfranco Zola’s visit to The Hub Saidek, a drop-in centre for street children operated by ChildLine Thailand Foundation and supported by Safe Child Thailand. Safe Child Thailand, a UK-registered charity, collaborates with a network of local charities and non profit organisations to support the disadvantaged communities of Thailand. The children and young people who use the Hub Saidek’s facilities enjoyed a fun morning of football and participated in a mini-tournament at an urban pitch in Bangkok, with Zola sharing a few football tricks and offering words of encouragement to the young players. Later in the day, Zola toured the Thai capital, soaking in its pulsating rhythm, and visited several of Ascott’s properties in Bangkok to film exclusive content for fans. These included Somerset Rama 9 Bangkok, lyf Sukhumvit 8 Bangkok and Ascott Embassy Sathorn Bangkok, where he stayed during the trip. Caption: Chelsea Football Club legend Gianfranco Zola (right) joined The Ascott Limited’s CEO Kevin Goh and Ascott’s mascot, Cubby, for a picture in an immersive experiential zone, set up at a pre-match party at Ascott Embassy Sathorn Bangkok on Saturday, 26 April. On Saturday, 26 April, over 100 Ascott Star Rewards members had the chance to enjoy a breakfast of a lifetime with Zola at Somerset Rama 9 Bangkok as part of a special meet-and-greet event. Fans interacted with Zola, took photos with him and the 2016/17 Premier League trophy, and basked in an unparalleled morning of excitement. The activities continued into the afternoon at Ascott Embassy Sathorn Bangkok, where Zola engaged in a fireside chat, sharing personal stories, reflecting on memorable moments from his football career and answering questions from attendees. Just before the evening’s watch party, Zola also joined Ascott Star Rewards members at an exclusive pre-watch party, which featured an immersive experiential zone for photo opportunities and a suite of fan engagement activities. The excitement reached its peak with the watch party held at Hobs at ICONSIAM, where over 250 supporters gathered along the scenic Chao Phraya River for the live stream of the Chelsea vs. Everton match. The atmosphere was charged as fans from across the region united in their passion, cheering for their favourite team. Special video messages from Marc Cucurella, Enzo Fernández, Christoper Nkunku, Kiernan Dewsbury-Hall, Benoît Badiashile and Omari Kellyman, along with exclusive giveaways drawn by Cole Palmer, Marc Cucurella and Enzo Fernandez, added to the thrill throughout the evening. The watch party marked the perfect conclusion to an extraordinary two-day celebration and the season’s Famous CFC global tour.
The Ascott Limited to double portfolio in India
CapitaLand Investment’s The Ascott Limited plans to double its portfolio in India to 12,000 units by 2028, up from the 5,500 units it had as of end-2024. Ascott CEO Kevin Goh announced this ambitious goal at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai. At the event, Goh spoke on the topic of Redefining Global Living, expounding on how global living today has become a reflection of how people live, work, and travel seamlessly across borders. On the back of favourable growth prospects in the Indian hospitality market, Ascott is riding on a strong momentum in the first quarter of 2025 with three signings in Goa, Lucknow and Thanjavur. These signings collectively added 600 units to Ascott’s India portfolio, which now totals about 6,100 units across 22 properties, including both operating and in the pipeline. An important market Goh explained that India is an important inbound and outbound market for Ascott, with strong growth potential as it continues to evolve into one of the world's largest economies. He said: “With a rapidly growing middle class, increasing disposable incomes and improving infrastructure, India’s dynamic economic landscape is unlocking immense opportunities for its travel and hospitality sectors. Despite promising prospects, the supply of branded hotel rooms in India remains limited, creating a significant demand-supply gap that opens up tremendous potential for Ascott to contribute to the country’s hospitality growth.” Goh further added that, as diverse demand drivers fuel India’s hospitality sector, Ascott is well-positioned to capitalise on this growth with Ascott’s flex-hybrid model that seamlessly adapts to shifting demand across both transient and extended stays. This competitive edge is reinforced by Ascott’s multi-typology brand strategy, enabling us to serve every type of guest with a diverse portfolio ranging from select- to full-service operations. He said: “Backed by the in-market expertise of our local team in India, we are confident in delivering exceptional value to our owners while enhancing the guest experience. As we strengthen our brand presence in India, we believe the country will become a key source market for Ascott’s properties worldwide.” A dual focus For his part, Ascott’s chief operating officer for EMEA, South Asia, and China Lee Ngor Houai declared that, moving forward, the company’s growth strategy in India will be driven by a dual focus on geographic and brand expansion. Lee explained: “Currently, 85 percent of Ascott’s operating portfolio in India are concentrated in Tier-1 cities such as Bangalore, Chennai and Hyderabad. We will continue to strengthen our presence in these high-performing Tier-1 cities, while also expanding our focus on the fast-growing Tier-2 and Tier-3 cities. This strategy is driven by growing interest in India’s lesser-travelled destinations and the significant under-penetration of branded hotels in these cities.” The company is also growing brands it already has in India; namely Ascott, Citadines, Oakwood, and Somerset. Ascott also looks forward to launching more of its multi-typology brands into the Indian market. Lee said: “We see strong potential in introducing lyf, our experience-led social living brand, to tap into the rise of India’s urban millennial and Gen Z workforce, along with the growing digital nomad trend. As demand for flexible, community-focused stays grows, lyf aligns perfectly with India’s next-gen travellers. Furthermore, our collection brands, The Unlimited Collection and The Crest Collection, are poised to meet the rising demand for immersive cultural and heritage experiences in India, turning stays into unforgettable journeys.” Leveraging opportunities to connect with industry partners and owners, Ascott’s development team was present at the Hotel Investment Conference-South Asia (HICSA) in Mumbai this week to showcase the group’s portfolio of brands while expanding on business opportunities.
Ascott powers up loyalty programme ASR
The Ascott Limited (Ascott) is celebrating the sixth anniversary of its loyalty programme, Ascott Star Rewards (ASR), with feature enhancements aimed at further enriching the travel experience for its growing base of loyal members. In 2024, ASR membership grew by over 40% to surpass five million. Ascott is setting a target to treble the number of ASR members to at least 15 million by 2028. Tan Bee Leng, Chief Commercial Officer, Ascott said: “To achieve our target of more than 15 million members by 2028, Ascott is making significant enhancements to our mobile app and website, to enable our loyalty programme, Ascott Star Rewards (ASR), to be seamlessly integrated into the digital journey. Tapping into the power of AI, Ascott is harnessing technology as a driver of efficiency, personalisation, and seamless customer engagement, as part of our tech-forward hospitality journey. This enhanced digital presence is complemented by our commercial strategy which focuses on offering compelling deals, benefits and exclusive experiences to ASR members. It also underscores ASR’s role in driving direct bookings for Ascott properties, reducing our reliance on online travel agencies. ASR members tend to book more frequently, hence contributing to higher profitability for property owners while delivering richer data insights for Ascott to enhance guest experiences and brand loyalty.” “Looking ahead, Ascott will be stepping up our loyalty engagement with corporate accounts, to create compelling ASR offerings for business travellers as well as the companies they represent. We are also broadening the ASR ecosystem with more strategic partnerships such as airlines and airports, to reward members with more perks to enrich their stay experiences with Ascott. In line with ASR’s brand promise to Stay Rewarded, we remain focused on deepening connections with our members to deliver them the best experiences while supporting the long-term profitability of Ascott’s business,” added Ms Tan. In 2024, ASR members accounted for over 90% of Ascott’s app and website bookings, more than 60% of which were repeat bookings. On average, ASR members spent 55% more than non-members, which brought about over 30% increase in ASR-driven room revenue in 2024. Last year, ASR mobile app downloads surged by over 120%, with bookings increasing 64%, driving a more than 70% rise in revenue compared to 2023. Ascott’s web booking channel – discoverasr.com, has been seeing double digit growth for the past three years. As ASR continues to evolve, its focus will move beyond traditional benefits to include curated event experiences and personalised offerings through its mobile app and website. From a traditional points-based rewards system to an integrated solution, the strong growth trajectory of ASR within six years is testament of the loyalty from its growing membership base. Enhancing the ASR Booking Experience with Seamless Features and AI-Driven Innovation Bookings via ASR mobile app will soon take half the steps of before. To further enhance the mobile experience, ASR will introduce a series of app updates from April 2025, streamlining the journey from log-in to check-out. These updates include a refreshed user interface, personalised travel and stay recommendations and geolocation-based offers, along with an optimised landing page for quicker access to deals and property highlights. In addition, the app will go beyond just booking, with upcoming enhancements made to pre-to-post stay functions like seamless pre-arrival check-in, self-check-out alongside easy management of multi-room reservations, while providing convenient access to in-room services and communication with the property teams. Together with the mobile app, the ASR website discoverasr.com serves as a key driver of direct bookings. The website now supports 11 languages and added payment options like WeChat and Alipay, to cater to Ascott’s expanding global reach. New member sign-up and log-in options via WeChat and Alipay further allow for easy access to member accounts and deals. The ASR website also acts as a content hub for travel inspiration, offering destination guides and insider recommendations to help members plan their ideal stays. Since its launch in August 2023, Cubby, a generative AI-powered web chatbot, has processed over 300,000 queries and generated more than 2,000 booking leads. New features, including the pilot of direct booking capabilities within Cubby, further personalise the experience by offering tailored property recommendations and the best rates. Ascott will further harness AI to uplift the ASR programme to support the planning journey of its guests. Leveraging data-driven insights, Ascott’s new recommendation engine will tap on predictive AI, turning past data and preferences into tailored recommendations for ASR members. These include recommendations of travel destinations, suggested brand experiences alongside potential properties that would be most ideal for each guest. Exclusive Partnerships and Curated Experiences to Enhance ASR Member Journeys This year, ASR is adding the French Open in Paris to its lineup of Ascott Privilege Signatures series and will also offer the Bangkok edition of The Famous CFC from 25 to 26 April 2025, featuring Chelsea legend Gianfranco Zola. These new additions are in line with ASR’s shift in focus to offering curated experiences and exclusive partnerships as part of its member rewards strategy. In 2024, Ascott became the Official Global Hotels Partner of Chelsea Football Club, providing ASR members with access to exclusive experiences, including private stadium tours of Stamford Bridge, coaching sessions at Chelsea’s Cobham Training Ground and the Singapore edition of The Famous CFC, Chelsea’s international fan engagement programme. Through the Ascott Privilege Signatures series, ASR also brought members to major events such as The Championships, Wimbledon, and the Singapore Night Race. Additionally, through the ASR Local Signatures series, members have enjoyed immersive explorations of local culture, from a gastronomic journey in Penang to a private violin recital in Paris. These tailor-made events elevate the ASR membership experience, creating unforgettable moments in each destination. With additional partnerships and experiences on the horizon, ASR is set to continue delivering highly sought after opportunities for its members. More Ways to Earn Rewards To enhance the booking and travel planning journey for ASR members, Ascott has partnered with leading travel partners to create a one-stop platform where members can access exclusive experiences and earn ASR points simultaneously. For just 15,600 points, members can enjoy Priority Pass Airport Lounge access at over 1,700 lounges worldwide. Ascott has also teamed up with frequent flyer programmes like KrisFlyer, enabling members to earn miles on qualifying stays. A Special Anniversary Offer for ASR Members In celebration of ASR’s 6th anniversary, members can earn a bonus of 24,000 ASR points for bookings and stays made between 1 April and 31 May 2025, plus enjoy a pair of complimentary airport lounge passes. This offer is valid for bookings made via the ASR mobile app or website, limited to the first 300 bookings.
Ascott brings The Famous CFC to Bangkok
Chelsea Football Club’s official global hotels partner The Ascott Limited (Ascott) brings The Famous CFC to Bangkok, Thailand. Building on the remarkable success of the Singapore edition of the fan event, Ascott is proud to bring the immersive global fan experience series to another of Chelsea’s passionate Southeast Asian fanbases. Scheduled for 25th and 26th April, the two-day celebration will be held at Ascott properties across Bangkok, including Ascott Embassy Sathorn Bangkok and Somerset Rama 9 Bangkok, promising an extraordinary experience for Chelsea supporters and members of Ascott Star Rewards (ASR), Ascott’s loyalty programme. Bringing fans together Ascott’s chief commercial officer Tan Bee Leng said: “Since becoming Chelsea’s official global hotels partner, Ascott has been bringing global fans closer to the club they love while redefining hospitality with our exclusive Ascott Star Rewards offerings, such as match-and-stay experience packages that include football clinics with Chelsea soccer school coaches at Cobham Training Ground and VIP access to Ascott’s private hospitality suite at Stamford Bridge.” Tan added that Ascott loyalty members are also eagerly anticipating the rebranding of the two stadium hotels currently operating as Stamford Bridge Hotel London to Ascott’s lyf brand by the second half of this year. As Tan puts it: “lyf’s experience-led social-living concept aligns seamlessly with Chelsea’s spirit and the vibrant atmosphere of Stamford Bridge, promising an exciting new chapter for both our guests and Chelsea fans.” Chelsea’s chief revenue officer Casper Stylsvig added: “We are excited to return to Bangkok as part of The Famous CFC global series, offering a unique opportunity for the club to engage with its passionate fanbase around the world. This marks our first visit to Bangkok since 2017, and we are delighted to partner once again with Ascott to bring our global vision to life in innovative ways following the successful trip to Singapore last November. We look forward to delivering an unforgettable experience for our supporters and Ascott Star Rewards members alike.” Chelsea’s greatest comes to Thailand The upcoming Famous CFC in Bangkok will feature Chelsea legend Gianfranco Zola, a beloved figure among fans for his exceptional contributions to the club from 1996 to 2003. A two-time Chelsea Player of the Year, Zola’s impact on the Blues was immeasurable, with supporters voting him the club’s greatest-ever player in 2003. Throughout his illustrious career, Zola helped Chelsea secure numerous major titles, including the UEFA Cup Winners' Cup, UEFA Super Cup, two FA Cups, the League Cup and the Community Shield. Zola’s visit to Bangkok is eagerly awaited, with the event marking Chelsea’s much anticipated return to the city for the first time since 2017. Zola’s star power was on full display during the Singapore edition of The Famous CFC last 30th November and 1st December, where he received an overwhelmingly warm reception from fans, many of whom travelled from across the region to meet him. While Zola’s footballing legacy was widely celebrated, it was his approachable nature that truly captured the hearts of supporters. His first visit to Singapore deepened the admiration and respect fans already had for him, and now Zola is set to bring that same warmth and rapport to Bangkok’s passionate Chelsea fanbase this April. Zola himself remarked: “I’m thrilled to be part of The Famous CFC again this year and to return to Southeast Asia for the second time with the programme. After my memorable visit to Singapore, I’m looking forward to spending more time with our incredible fanbase in the region and discovering the beauty of Bangkok. It’s always special to connect with fans in such spirited communities.” It should be noted that Ascott Star Rewards members will have the exclusive chance to meet Gianfranco Zola in person, hear stories from his illustrious career from the icon himself, and immerse themselves in the legacy of Chelsea Football Club with behind-the-scenes insights. The Famous CFC Bangkok will likewise offer an exclusive layer of engagement, including priority access, VIP hospitality experiences and curated stays at Ascott properties in Bangkok, ensuring that every moment is infused with meaningful, once-in-a-lifetime experiences that go beyond booking a stay.
CapitaLand Ascott Trust makes it into S&P Global Sustainability Yearbook 2025
CapitaLand Ascott Trust (CLAS) was included in the S&P Global Sustainability Yearbook 2025, making its debut in the prestigious index as the only lodging trust included from the Asia Pacific. CLAS is also the only Singapore-listed trust under the Equity Real Estate Investment Trusts category. The Trust also achieved Industry Mover status in the rankings, as it was recognised for accomplishing the strongest improvement in its industry. Out of over 7,690 global companies assessed, only 780 companies have been recognised in the S&P Global Sustainability Yearbook for 2025. Inclusion in the S&P Global Sustainability Yearbook is based on the S&P Global Corporate Sustainability Assessment (CSA). The CSA measures a company’s performance on and management of material environmental, social and governance (ESG) risks, opportunities and impacts, making the link between sustainability and business strategies. Operating with sustainability at its heart CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte Ltd CEO Serena Teo remarked that sustainability lies at the core of all of their initiatives. She said: “As CLAS continues to expand as the largest lodging trust in Asia Pacific, we endeavour to grow responsibly. We integrate sustainability in every stage from investment to design, development and operations. We have established systems and processes to ensure that we are on track to achieving our rigorous sustainability targets. CLAS is also one of the few listed trusts in Singapore to publish a sustainability report that is externally assured to give our investors and stakeholders confidence in the quality of our data and reporting. We remain committed to enhancing our ESG efforts as we deliver stable returns to our Stapled Securityholders.” Teo added that guests staying at Ascott properties are also keen on sustainability, thanks largely to visible measures actively being implemented. She said: “We have greened over 50 percent of our global portfolio and CLAS remains on track to green 100 percent of our portfolio by 2030. We continue to partner our operators and lessees to green our operations. In addition, our asset enhancement initiatives (AEI) not only uplift the value and profitability of the properties but also improve the energy and water efficiency of these properties.” Six of the eight properties in CLAS’ AEI pipeline are already green certified; the rest will undergo the certification process over the next few years.
CapitaLand Ascott returns boosted by acquisitions in Japan
CapitaLand Ascott Trust (CLAS) announced its acquisition of two freehold limited-service hotels in Japan for an approximate total of SG$178.5 million on Friday, 31st January. The two hotels are ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae in Kanazawa, one of the most popular destinations for local travellers. On a FY 2024 pro forma basis, the acquisition of the two hotels has a Distribution per Stapled Security (DPS) accretion of 1.6 percent. The blended net operating income (NOI) yield of the acquisition is 4.3 percent in FY 2024. Adopting a natural hedge against currency fluctuations, the acquisition was funded by JPY-denominated debt and proceeds from CLAS’ divestment of four properties in Japan. Keeping tabs on a vital market CapitaLand Ascott Trust Management Limited and Ascott Business Trust Management Pte Ltd CEO Serena Teo said of the acquisition: “Japan is a key market for us. Post-acquisition, 18 percent of CLAS’ total assets are located in the country. With Japan continuing to enjoy strong international travel demand, the two well-located properties are poised to capture the demand from travellers visiting Tokyo and Kanazawa. Visitors staying in Tokyo and Kanazawa have already surpassed pre-COVID levels by 23 percent and 12 percent respectively. The revenue per available room for both Ginza and Kanazawa markets are also set to continue on an upward trajectory. The properties will be under management contracts, enabling CLAS to benefit from income upside. Through our diversified portfolio of assets with different contract types, we have a mix of stable and growth income sources that enable us to deliver resilient long-term value for our Stapled Securityholders.” Teo further explained that the acquisition is part of the company’s portfolio reconstitution strategy to enhance the quality of its portfolio and deliver stable returns to Stapled Securityholders. She added that the FY 2024 NOI yield of the two hotels is 230 basis points higher than the blended exit yield of approximately 2.0 percent. for the four previous divestments in Japan. She concluded by saying: “By swiftly redeploying divestment proceeds into these higher-yielding assets, we have fully replaced the income from the four divested properties. CLAS continues to focus on delivering growth by ensuring our portfolio is well-positioned to capture lodging demand.”
Ascott ramps up Oakwood signings
CapitaLand Investment’s lodging business unit The Ascott Limited (Ascott) accelerated the expansion of its Oakwood brand, signing 16 new properties in 2024. This represents a 30 percent increase in signings over the previous year. The 2024 roster includes four Oakwood Premier signings since Oakwood’s brand early last year. Riding the growing demand for bleisure travel, the brand refresh initiative enhanced Oakwood's appeal to guests blending business and leisure in their travels by offering the comforts of home and beyond. A working model The rapid growth of the Oakwood brand is anchored in Ascott's flex-hybrid hotel-in-residence model, which seamlessly combines the comforts of a fully serviced apartment with the luxuries of a hotel stay. Offering a variety of room configurations to accommodate diverse travel needs and lengths of stay, Oakwood properties also provide a wide range of ancillary services, including dining options and meeting facilities. The Oakwood portfolio now boasts of nearly 100 properties, solidifying its appeal to bleisure travellers. Oakwood's global footprint spans 14 countries and 50 cities, with a strong presence in key gateway cities such as Tokyo, Jakarta, Beijing and Manila, as well as popular resort locations. New in the neighbourhood New openings in 2024 include Oakwood Suites Chongli, a ski resort in the winter sports hub of Chongli in Zhangjiakou City, Hebei Province, China; the all-villa Oakwood Ha Long, located in the heart of Ha Long City, a gateway to Vietnam's UNESCO World Heritage site, Ha Long Bay; and Oakwood Hotel & Apartments Grand Batam, offering tranquil water views on Indonesia's Batam island. These openings mark the brand's debut in these prime resort destinations. Ascott’s chief growth officer Serena Lam said: "Oakwood remains one of the fastest-growing brands in Ascott's portfolio, driven by its strong positioning to capitalise on the increasing popularity of bleisure travel. With a 30 percent increase in signings in 2024 compared to 2023, Oakwood is well-placed to meet the needs of guests seeking a seamless balance between work and leisure. These new signings continue to drive Oakwood's expansion into the resort sector, including the introduction of Oakwood Jimbaran Villas & Residences in Bali, one of the region's most sought-after resort destinations. Beyond the volume of signings, we are seeing greater interest from property owners in the higher-tier Oakwood Premier brand following its recent refresh, with one in every four Oakwood signings in 2024 being an Oakwood Premier property. Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali and Shenzhen." Newly-signed Oakwood Premier properties include Oakwood Premier Adelaide, Oakwood Premier Luohu Shenzhen and a new property in Bali. In Singapore, the Oakwood Premier brand makes its return with Oakwood Premier Draycott Singapore, located in the Orchard Road precinct. This addition will expand Oakwood's presence in Singapore to two properties, joining Oakwood Studios Singapore.
Ascott Embassy Bangkok
Ascott Embassy Sathorn Bangkok, South Sathon Road, Thung Maha Mek, Sathon, Bangkok, Thailand Thailand
Ascott International Management (Thailand) Limited
Bangkok, Thailand
Ascott International
Finlayson Green, Ascott International Management Pte Ltd., Singapore Singapore
The Ascott Thailand
The Ascott Thailand, 219/43, 12 Floor Asoke Tower, Soi Sukhumvit 21, Asoke Rd., Klong Toei Nuea, Wattana (3.56 km) กรุงเทพมหานคร 10110
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