Conversions remain a key growth lever. They account for 61% of Ascott’s unit openings globally in the first seven months of 2025. Recent examples include Citadines Antasari Jakarta, converted and opened within three weeks in August, and Citadines City Centre Liverpool, which reopened after a three-month transformation in June.
The Ascott Limited (Ascott), a wholly owned unit of CapitaLand Investment, says its Citadines portfolio has crossed 200 properties worldwide, reaching 205 properties with about 35,000 units. Some 127 properties — more than 60% — or around 22,200 units are operational .
Since a brand refresh three years ago, Ascott has signed more than 50 Citadines properties totalling about 8,000 units. A quarter of these are conversions, while expansion into 18 new cities includes Colmar, Hobart, Liverpool, Surabaya, Phu Quoc, Udupi, Tangier, Marrakech and Kuwait; it also added locations in Changshu, Dalian, Foshan, Guilin, Nanjing, Shenzhen, Tianjin and Zhuhai .
