• Addresses burgeoning market demand with the introduction on five new Ascott brands to the region: lyf, The Crest Collection, The Unlimited Collection, Oakwood and Oakwood Premiere, and aims to enter prospective markets including Kuwait and Egypt
  • Launches Regional F&B Division to augment F&B offerings across Ascott’s regional properties

Middle East – The Ascott Limited (Ascott), the leading lodging owner-operator in the Middle East, announces its robust expansion plans in the MENA region, aligning with its regional target of reaching 10,000 units by 2025. Ascott’s tenacious expansion strategy will include the introduction of new Ascott brands and 5,500 new units with a focus on the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA), underscoring its commitment to growth and investment into the Middle East region. Celebrating its 40th anniversary, Ascott sets its sights on the future, aiming to redefine the hospitality industry. With a dynamic pipeline that includes the introduction of innovative living concepts and an unrelenting commitment to guest flexibility, Ascott is set to continue providing unparalleled experiences in hospitality.

As part of its planned growth strategy, Ascott will leverage its globally renowned flagship brands to enhance its regional presence in the UAE and KSA with new property launches across Ascott The Residence, Somerset and Citadines brands. Leveraging its innovative Hotel-in-Residence business model, Ascott will augment its regional expansion strategy with the introduction of serviced apartment brands, catering to diverse guests' preferences across the luxury and lifestyle hospitality segments in the region. These include the iconic flexible living lifestyle brand, lyf, the bespoke luxury brand, The Crest Collection; The Unlimited Collection, and the pioneering serviced apartment concept – Oakwood and Oakwood Premiere. Furthermore, the leading lodging owner-operator aims to make its debut into prospective new source markets such as Kuwait and Egypt and a phased expansion in existing markets, including Oman and Bahrain. Ascott is also set to expand its presence in Africa and Türkiye with 1,000 units targeting strategic growth in Morocco and Kenya as key hubs and exploring new opportunities in Izmir and Bodrum.

Committed to enhancing guest experiences, Ascott will also focus on expanding its food and beverage offerings with the establishment of a dedicated Regional F&B Division to develop innovative F&B concepts that resonate with local cultures, while adhering to global standards of excellence and sustainability. From trendy cafes to upscale dining, Ascott ensures that every aspect of the dining experience reflects its commitment to excellence, supported by rigorous quality control, chef training programmes, and collaborations with local suppliers across operating markets in the region.

Vincent Miccolis, Managing Director of Middle East, Africa, India and Türkiye at The Ascott Limited, speaking during ATM 2024 about the group’s growth strategy stated: "The Arabian Travel Market is the region’s biggest hospitality conference, offering unparalleled opportunities for networking and insights into emerging trends within our industry. At Ascott, we embrace this platform to showcase our commitment to innovation within the region’s hospitality sector. With the burgeoning demand for serviced residences in the region, we have implemented a strategic phased expansion with new Ascott brand introductions that cater to dynamic market preferences across the luxury and lifestyle segments. Additionally, Ascott will expand its offerings beyond serviced apartments, to hotels, co-living spaces, and more. With flexibility embedded into all Ascott properties, we are poised to cement our leading position in the region to offer unique and luxurious accommodations that meet the evolving needs of the modern traveller.”

The Ascott Limited’s strategic expansion in KSA seamlessly aligns with the Saudi Vision 2030 agenda to diversify the Kingdom's economy, transforming travel and accommodation trends, enriching cultural experiences, and providing a range of entertainment options. As the leisure sector expands, Ascott is poised to meet the rising demand for luxury accommodations by offering guests personalised and immersive experiences beyond traditional hotel amenities. In Q4 2024, Ascott will add 90 premium villas to its KSA portfolio with the opening of the highly anticipated Ascott Villas Riyadh, tapping into the Kingdom’s ambitious plans for the hospitality sector.

The Ascott Limited’s hybrid Hotel-in-Residence model offers an innovative solution to evolving travel needs by blending the comfort of home with the conveniences of hotel services. Enabling enhanced asset utilisation, diversified revenue streams, and improved guest satisfaction; Ascott offers a range of guest services including 24/7 security, leisure facilities, and on-site dining. Moreover, the Hotel-in-Residence model adapts to the needs of digital nomads and business travellers by offering flexible workspaces, high-speed internet, and ergonomic furniture across its properties, ensuring productivity and comfort for those who blend travel with work. While families seeking more spacious accommodation are also catered for.

As part of its commitment to sustainability, Ascott has integrated the Ascott CARES programme across its operations, which focuses on Community, Alliance, Respect, Environment, and Supply chain. This commitment is further demonstrated through the attainment of Green Key Certifications across its regional properties. Furthermore, Ascott properties in UAE, Qatar, and Bahrain have attained the ISO 14001 and ISO 45001 certifications with ambitious goals to extend ISO certifications across its entire operating portfolio in the Middle East, Africa, and Türkiye by 2030. The recent launch of the Somerset Sustainability Passport Programme in the region has enabled Ascott to further engage with guests in interactive eco-friendly activities, driving a sense of shared purpose among staff, guests and the community. As part of the programme, guests are empowered, through the GoGreen initiative to reduce housekeeping frequency via the DiscoverASR mobile app, and can earn Ascott Star Rewards (ASR) points, as part of the ASR loyalty programme, redeemable on future stays at Ascott properties.

The Ascott Limited’s regional operational portfolio includes Ascott Park Place Dubai, Citadines Culture Village Dubai, Citadines Metro Central Dubai, Ascott Corniche Al Khobar, Somerset Downtown Al Khobar, Ascott Rafal Olaya Riyadh, Citadines Abha, Citadines Al Ghubrah Muscat, Somerset West Bay Doha, Somerset Al Mansoura Doha, Somerset Al Fateh Bahrain, Somerset Westview Nairobi, Somerset Maslak Istanbul, and Somerset Atyrau Kazakhstan.

For further information on new property openings, please visit www.discoverasr.com/the-ascott-limited.

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About The Ascott Limited

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with over 950 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.

For more information on Ascott and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Alternatively, connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited (www.capitalandinvest.com)

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold.  As at 31 March 2024, CLI had S$134 billion of assets under management as well as S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA.  Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and commercial management, and maintain effective capital management.  As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm. 

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050.  CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

For more information, please contact:
Justin Froes | justin.f@qcomms.ae
Ayaan Malhotra | ayaan.m@qcomms.ae

Important Notice

This announcement and the information contained herein does not constitute and is not intended to constitute an offering of any investment product to, or solicitation of, investors in any jurisdiction where such offering or solicitation would not be permitted.