The Ascott, CapitaLand’s extended stay business, has accelerated signings of its Oakwood brand, to meet burgeoning demand for blended work-leisure trips.
The company achieved a 30% growth in 2024, signings 16 new properties to its Oakwood brand family. The portfolio now extends to almost 100 properties, including those in the development pipeline. And for travellers, the Oakwood name can be found in 50 cities across 14 countries, including multiple locations in key gateway cities such as Beijing, Jakarta, Manila and Tokyo.
Building a resort presence
The brand is also making its mark as in-demand accommodation in resort destinations. During 2024, additions included Oakwood Suites Chongli, in a ski resort in Hebei Province, China; plus Oakwood Ha Long in Vietnam’s Ha Long City; and in Indonesia, Oakwood Hotel & Apartments Grand Batam.
In early 2024, the group refreshed the Oakwood brand, building a new luxury tier, Oakwood Premier. Signings for this sub-brand include Oakwood Premier Adelaide in Australia, plus a Bali destination, Oakwood Premier Luohu Shenzhen. In Singapore, a second Oakwood property is opening, Oakwood Premier Draycott – joining the existing Oakwood Studios Singapore.
“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,” said Serena Lim, chief growth officer at Ascott. “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.”
Among signed properties that are under construction are several in Indonesia. These include Oakwood Yogyakarta, a 122 unit development, which will debut in early 2026; and Oakwood Hotel & Apartments Benoa Bali, expected to open later in 2025.
In Jakarta, Oakwood Fatmawati City Centre Jakarta is nearing completion of a refurbishment, offering 268 refreshed apartments. It will be joined in 2027 by Oakwood Slipi Jakarta, a mix of 155 studio and one bed units on the edge of the main business district in West Jakarta. Looking further ahead, there are Oakwood developments in other Indonesian city destinations including Oakwood Palm Hill Semarang, due to open shortly, and Oakwood Serpong.
Finding comfort in food
Following the updating of the Oakwood brand, all new properties now feature an on-site dining option for guests. And to recognise the importance of food for travellers, Oakwood launched a food and beverage programme named All You Knead is Comfort, offering cooking classes and food tastings for guests.
In addition, Oakwood chefs from across its properties have contributed to a new digital cookbook called “Comfort, Curated”. This collection of dishes from across the group’s operating regions can be downloaded free, providing inspiration whether guests want a taste of home, or wish to try something from a destination they have visited.
