The Ascott Limited has secured 15,100 units across 72 properties globally in 2021, marking the fifth straight year that it has seen record growth in units despite Covid-19.
Of the 15,100 units, 60% of the new signings were serviced residences. The new units also see the company expanding its footprint in China and Vietnam, in addition to entering the markets of Cameroon and Nigeria.
The Ascott Limited is CapitaLand Investment’s (CLI) wholly-owned lodging business unit.
Ascott also closed 2021 with its highest-ever property openings, with over 8,200 units launched in 40 properties across 10 countries. This is more than double the units opened in 2020.
The properties opened include Ascott’s first Adoor-branded rental housing property, Adoor Apartment Heda Hangzhou (Xiasha) and its first lyf-branded coliving property, lyf MidTown Hangzhou, in China.
In December 2021, Ascott clinched several awards at the World Travel Awards 2021, Travel Weekly Asia 2021 Readers’ Choice Awards and the Business Traveller Awards 2021, including the title of “World’s Leading Serviced Apartment Brand” at the World Travel Awards.
See also: Send Notif Breaking NewsQA Foreground3
“In 2021, Ascott continued with our strong growth trajectory despite Covid-19. Our record signings for the fifth consecutive year anchors Ascott’s market leading position as an international lodging operator. More than 80% of the new units secured in 2021 were under management and franchise contracts, in line with Ascott’s asset-light growth strategy,” says Kevin Goh, CLI’s CEO for Lodging.
“We also opened a record number of units in 2021, readying ourselves for the recovery of travel in 2022. The newly signed and opened properties will be a welcome boost to our recurring fee income, as we build on this momentum to meet our target of 160,000 units globally by 2023,” he adds.
Shares in CLI closed 7 cents lower or 1.90% down at $3.62 on Jan 7.
Photo: Ascott Limited
