The Ascott Limited (Ascott), part of CapitaLand Investment, is making a strong move in the leisure hospitality space, expanding its global resort portfolio to about 50 properties across sought-after destinations. This growth comes through an asset-light approach, with 11 new signings in the past 10 months secured under management and franchise agreements. The signings reflect a strategic focus on the rising demand for experiential travel and contribute to around 5% of Ascott’s portfolio of more than 1,000 properties worldwide.

A key driver of this growth is Ascott’s multi-typology brand strategy, which adapts popular brands such as Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection and The Unlimited Collection for resort settings. This approach allows Ascott to deliver locally attuned guest experiences while meeting the evolving expectations of its expanding Ascott Star Rewards membership.

Recent additions span prime leisure spots in Phuket, Bali, Labuan Bajo, Phu Quoc, Nha Trang, Cam Ranh, Sam Son, Gangneung and Marjan Island. Highlights include the upcoming Ascott Abov Patong Phuket Resort, the brand’s debut in Phuket, just 150 metres from Patong Beach. The resort will feature 254 rooms, extensive leisure facilities, event spaces and a 227-unit branded residence. In Vietnam, developments include Somerset Nha Trang, Citadines Selavia Phu Quoc, and HARRIS Resort Cam Ranh – each designed with premium amenities for leisure and business travellers alike.

Indonesia will see properties like lyf Labuan Bajo, opening in 2027 with vibrant communal spaces and curated experiences for younger travellers, and Oakwood Jimbaran Villas and Residences Bali, offering direct access to Jimbaran Beach’s famous sunsets and seafood culture. The UAE’s Al Mahra Resort by The Crest Collection on Marjan Island is set to bring luxury stays with 539 rooms, a spa, specialty dining, and event spaces.

South Korea’s Oakwood Gangneung will cater to leisure-led extended stays on the scenic east coast, while other resort additions include ski retreats, beachfront escapes and wellness-led properties across key global markets.

Industry trends suggest a bright outlook for Ascott’s resort strategy. Global leisure travel spending is projected to triple to US$15 trillion by 2040, with strong contributions from emerging markets like India and China. The resort segment, valued at over US$300 billion in 2023, is expected to grow at an 18.2% CAGR through 2030.

According to Ms Serena Lim, Chief Growth Officer, the combination of Ascott’s flexible operational model and brand adaptability positions it to capture these opportunities while delivering value for property owners and memorable stays for guests. Ms Tan Bee Leng, Chief Commercial Officer, emphasised that the resorts enrich the Ascott Star Rewards programme, creating a deeper connection with members and encouraging cross-destination travel.

With more than 20 new resorts scheduled to open in the next three years, Ascott is cementing its place as a lifestyle hospitality leader in both established and emerging leisure destinations worldwide.