The Ascott Limited, a lodging business unit wholly-owned by CapitaLand Investment (CLI) 9CI , has announced the refresh of its flagship namesake brand — Ascott.
The brand refresh showcases its “flex-hybrid” accommodation concept which has proven resilient through and post-pandemic, increasingly coming to the forefront as the preferred model in the lodging industry.
The “hotel-in-residence” model enables Ascott to cater for varying lengths of stays — from short to extended periods — for different guest profiles.
Ascott and CLI Lodging CEO Kevin Goh says operating on a flex-hybrid model helps Ascott to stay agile and adaptive in the face of volatile business cycles. By being responsive to shifts in demand, Ascott can quickly pivot its operations to suit the needs of the market and optimise occupancy to drive revenue growth, he adds.
“The model also mitigates the risks associated with over-reliance on a single market segment. When one segment experiences a downturn, the business can focus on other segments that are performing better. This adaptability ensures a more stable income stream and reduces vulnerability to economic volatility,” says Goh.
Ascott was launched with the opening of The Ascott Singapore in 1984. It was traditionally thought of as an accommodation provider specifically geared towards business travellers working on long-term projects.
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Today, properties under the Ascott brand are targeting affluent travellers and C-suites, says managing director for brand and marketing Tan Bee Leng. The properties highlight the essence of fine living and celebrate its passion for fine arts, she adds.
“The brand refresh will augment Ascott’s flex-hybrid strategy with room options ranging from studio apartments, penthouse suites to connecting and dual-key units,” says Tan.
The Ascott brand refresh follows the unveiling of its refreshed Citadines and Somerset brands last year. The Ascott brand portfolio comprises over 40 operating properties, extending across nine countries globally year-to-date.
With continued expansion of the Ascott brand globally, more than 30 properties are in the pipeline and slated to open in the next five years. In China, where the Ascott brand holds its largest portfolio of 23 operating properties, the brand is expected to double its footprint by 2028.
