Ascott Reports Record Southeast Asia Signings in 2025, Expands Multi-Typology Portfolio

The Ascott Limited, the lodging arm of CapitaLand Investment, recorded over 7,300 units in new signings across Southeast Asia in 2025, marking a 55% increase compared to 2024.

Ascott Strengthens Southeast Asia Presence with Record Signings

The company’s performance places it among the top three hospitality operators in the region by new signings, according to industry data. The Ascott Limited currently operates more than 200 properties in Southeast Asia, with an additional pipeline of around 150 properties.

Pipeline Growth and Upcoming Openings

More than 25 properties are expected to open within the next 12 months across the region. The pipeline spans multiple accommodation formats, including serviced residences, hotels, resorts and social living spaces.

The company’s expansion strategy is supported by demand recovery in Southeast Asia, driven by intra-regional travel, increased visitor spending and improving connectivity.

Serena Lim, Chief Growth Officer, Ascott, said: “Southeast Asia continues to be one of the most dynamic hospitality markets in the world and Ascott is well positioned to capture the opportunity. With over four decades in our home base, we have established deep market expertise and a trusted brand presence, positioning us for our next phase of growth. Our expansion is intentional and owner‑led, anchored by long‑term partnerships with owners who value our flex‑hybrid model and its ability to deliver resilient outcomes.

Supported by our multi‑typology brand strategy, we have moved beyond our serviced residence heritage to unlock opportunities across a broader range of lodging types. The depth of owner interest and track record across Southeast Asia gives us confidence in both our pipeline and our ability to execute this expansion.

Wong Kar Ling, Chief Strategy Officer and Managing Director, Southeast Asia, Ascott, said: “The upcoming wave of openings reinforces Southeast Asia’s role as both a core growth engine and a showcase for Ascott’s multi-typology brand strategy. As we scale across cities and resort destinations, disciplined execution remains our focus – from efficient conversions to reliable delivery on the ground.

The strength of our local teams has been instrumental in translating strategy into outcomes, turning pipeline into reality with the speed and precision our owners and guests expect. We are particularly excited about our upcoming resort openings across the region, which will meaningfully expand our leisure offerings and open up new destinations for Ascott Star Rewards members to explore and enjoy their rewards.”

Expansion into New Cities

The Ascott Limited plans to expand into approximately 20 new cities, including Phu Quoc, Nha Trang, Phuket, Labuan Bajo and Johor Bahru, among others. This move extends its presence beyond established gateway markets into emerging leisure and business destinations.

Conversion Strategy and Asset Repositioning

Approximately 30% of the pipeline will be delivered through property conversions, enabling faster market entry. This includes the repositioning of existing assets under Ascott’s brands, such as projects in Penang and Langkawi.

This approach complements new-build developments, allowing the company to expand in markets where greenfield opportunities may be limited.

Focus on Multi-Typology Growth

The development pipeline reflects a multi-typology strategy across brands including Ascott, Citadines, lyf, Oakwood and Somerset. The portfolio spans urban and resort destinations, catering to different traveller segments and market demands.

Resort developments form a significant part of future growth, with upcoming projects planned across Vietnam, Indonesia, the Philippines, Malaysia and Thailand.

Key Developments in the Pipeline

Among notable projects is Ascott Tay Ho Hanoi, located near West Lake. The property is expected to open fully by 2027 with 1,165 units and integrated MICE facilities.

Other upcoming properties include Lasong Hotel & Villas Sam Son, HARRIS Resort Cam Ranh and 1926 Heritage Hotel Penang, reflecting expansion across both leisure and heritage-focused destinations.

In Singapore, developments such as lyf Chinatown Singapore and Somerset Clarke Quay Singapore are part of the company’s urban growth strategy, while Ascott Ortigas Manila represents expansion in key business districts.

Outlook

The Ascott Limited continues to focus on scaling its regional footprint through a mix of new developments and conversions, supported by evolving travel demand and diversified lodging formats.