Group overview: Ascott to grow by nearly 200 properties

by | 11 Mar 2021 | Portfolio

The TOPHOTELPROJECTS construction database shows that Singapore-based The Ascott will add 195 hotel and serviced-residence schemes to its portfolio in the coming years, with a strong focus on the APAC region.

Our research indicates that The Ascott will grow its footprint by 195 properties over the next few years, bringing 36,595 extra keys into play. We find out more about the group’s upcoming launches.

Ascott’s openings by year

The Singapore-headquartered lodging owner-operator, whose serviced-residence and hotel brands include Ascott The Residence, Somerset and Citadines Apart’hotel, will experience rapid growth in 2021 – with 73 properties and 13,808 keys nearing completion.

For 2022, another 40 schemes with 7,315 rooms are already in the pipeline. In 2023, a further 22 properties with 3,969 keys will open, while 60 more projects and 11,503 rooms have been mooted for 2024 and beyond.

Of the 195 properties on the cards at present, only eight are in the five-star segment, while 187 fall into the four-star category.

Ascott’s regional growth plans

The overwhelming majority of Ascott’s new properties will be in the APAC region, where 175 hotels and residences with 33,887 keys are currently on its development slate.

Elsewhere, ten projects are being planned in the Middle East, while six are progressing in Europe. The number of openings is lower still in Africa (three), South America (one) and North America (zero).

Given this outlook, it’s perhaps hardly surprising that Ascott’s top five national growth markets are all in Asia. China leads the way, of course, with 60 schemes and 12,217 new rooms, but there’ll also be a significant number of new properties in Indonesia (39), the Philippines (18), Malaysia (16) and Thailand (nine).

Ascott’s fastest growing brands

Ascott’s three fastest growing brands all offer serviced residences, suggesting that the hospitality industry remains enthusiastic about the long-term prospects for extended-stay accommodation.

Citadines Apart’hotels will see the most rapid growth in the coming years, with 70 properties and 12,909 rooms in the works. Somerset Serviced Residence comes second with 44 upcoming openings and 9,016 keys, and Ascott The Residence takes third with 28 projects and 6,565 rooms.

Not to be overlooked, the Harris Hotels brand, which is well-established across Indonesia, will add 21 new locations with 3,924 rooms. And finally, youthful lifestyle brand lyf will grow by 12 properties and 2,038 rooms.

Noteworthy projects in Ascott’s pipeline

Ascott Thonglor Bangkok will be in the heart of a lively upscale neighbourhood filled with restaurants, malls, international schools and company headquarters. This 451-key property will also be close to a BTS Skytrain stop, enabling guests to get around the city easily. Residents will be able to choose between studios, one-, two-, and three-bedroom apartments, all of which include access to an abundance of premium lifestyle facilities onsite. Its opening date has been set for late 2021.

Over in China, Ascott Qinhuang Chengdu will be within the Central Business District of Chengdu’s Tianfu New Area, home to a raft of important businesses, as well as a new transportation hub. Due to launch in late 2022, the 294-key residence will be near the city’s airport and Western China International Expo City, making it ideal for business travellers.

Moving onto the Malaysian capital, the 262-room Somerset KL Metropolis will be in KL Metropolis, one of the city’s most sought-after addresses. Set near the country’s largest MICE hub and a quickly developing upscale neighbourhood, this property will offer units ranging from studios to two-bedroom apartments. The opening has also been pencilled in for late 2022.

Many TOPHOTELNEWS articles draw on exclusive information from the TOPHOTELPROJECTS construction database. This subscription-based product includes details of thousands of hotel projects around the world, along with the key decision-makers behind them. Please note, our data may differ from records held by other organisations. Generally, the database focuses on four- and five-star schemes of significant scale; tracks projects in either the vision, pre-planning, planning, under-construction, pre-opening or newly opened phase; and covers newbuilds, extensions, refurbishments and conversions.

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ABOUT THE CHAIN

 

The Ascott is a Singapore company that has grown to be one of the leading international serviced residence owner-operators.

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