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Ascott Marks 40 Years in Hospitality Service With Launch of Full Year Campaign ‘Ascott Unlimited’

SINGAPORE – 01 March 2024 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), today announced the launch of ‘Ascott Unlimited’, a year-long medley of initiatives to mark its ambitions to break new ground as it celebrates 40 years in hospitality service. Unveiled at the Southeast Asia debut of the Asian Hotel Industry Conference & Exhibition (AHICE) 2024 held in Singapore, this launch signifies a new era as the hospitality company navigates a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel. A leading development, investment, and operations forum, AHICE SEA 2024 was attended by many key prominent investors, owners, and operators in Southeast Asia, representing over US$500 billion in assets.

Ms Tan Bee Leng, Ascott’s Chief Commercial Officer, unveiled the launch of ‘Ascott Unlimited’ at AHICE SEA 2024

In 1984, Ascott pioneered Asia Pacific’s first serviced residence with the opening of The Ascott Singapore. Over the years, it has been building its own brands, and making strategic acquisitions to fast-track market penetration. Today, Ascott is a vertically-integrated lodging operator of about 950 properties across more than 220 cities globally, represented by a portfolio of 14 distinctive brands. Through an asset-light strategy, Ascott targets to achieve more than S$500 million in fee earnings by 2028.

Having established its reputation as a market leader in corporate travel within the extended stay sector, Ascott has taken the definition of global living into the transient leisure market. As Ascott pivots its business operations through its flex-hybrid “hotel-in-residence” model to respond to the changing needs of the market, it is on a growth trajectory stronger than ever. In 2023, Ascott achieved a record year of fee earnings at S$331 million, as well as highest number of property openings with nearly 9,600 units turning operational.

Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging, said: “The journey in the evolution of Ascott’s business is a natural one. We have spent the last four decades building the relationship we have with our guests, owners, and partners. We have put in significant investment to develop systems and infrastructure to support our growing business. We have been nurturing a culture of hospitality amongst our associates. Laying the foundation through disciplined growth over the years now paves the way for us to ensure that Ascott will continue to be that preferred accommodation of choice for our guests. We remain committed to quality growth and partnership with our owners and investors for the decades to come.”

“In a world that is changing, we recognise the importance for Ascott to stay relevant and in tune with what travellers look for. There is no better time than now, to push boundaries and go beyond for our future. Our legacy of successes has seen us through growth trajectories where we doubled in units every five years since 2008. Several transformative deals have fuelled Ascott’s position in the hospitality industry amongst established players. 2024 will be our launchpad – one that will propel Ascott into an era of greater ambition, as we go unlimited. Unlimited with enhanced value for our owners, unlimited with myriad experiences for our guests, and unlimited with growth opportunities for our associates,” added Mr Goh.

Transcending traditional limits, Ascott is embarking on a transformative journey to go ‘unlimited’ for its guests, owners, partners, and associates. Ascott Unlimited is guided by four key pillars:

 Unlimited Opportunities

 With an expanding global footprint, Ascott delivers enhanced value to owners and investors, while providing career growth opportunities for associates

Unlimited Choices
With a diverse portfolio of brands, Ascott offers guests myriad stay experiences, for whatever the purpose of travel and wherever the destinations may be

Unlimited Freedom
With a flex-hybrid hotel-in-residence model, Ascott offers owners compelling flexibility to realise potentials, and travellers unparalleled possibilities to stay their way

Unlimited Good
With a commitment to a culture of care and hospitality, backed by a spirit of innovation, Ascott grows responsibly as a changemaker with an unlimited purpose to impact the future of travel

Ms Tan Bee Leng, Chief Commercial Officer, Ascott said: “Ascott has been at the frontier of providing serviced living for 40 years now. In recent years, we have been accelerating our journey in the hospitality space. Through listening to our guests and clients, as well as internal surveys conducted with our associates from around the world, we saw Ascott’s 40th anniversary milestone as an unprecedented opportunity to share the profound changes that the company has gone through. As we mark Ascott’s corporate coming of age, this is a timely occasion for us to celebrate our present, while shining a light to the future.”

“Building on our foundation in an increasingly blended world of travel, Ascott is breaking new ground so our guests can work, stay, and play even better. With Ascott Unlimited, we are offering our guests more experiences for their next stay, with more value to enjoy, underpinned by our purpose to make a meaningful difference to travel – tomorrow and beyond. As we go Unlimited, we are excited to be launching initiatives that have been curated to deliver one-of-a-kind stay experiences for our guests. This will be exemplified in everything we do – from free night stays and complimentary membership tier upgrades to signature experiences and programmes unique to each brand. All to ensure our guests unlock a gateway to unlimited possibilities, wherever they are in the world,” Ms Tan added.

Towards a Future of Unlimited Possibilities with Ascott Unlimited
‘Can we have everything, everywhere, all at once when we travel?’ A brand film that answers to this call kickstarts the launch of Ascott Unlimited, a year of unlimited possibilities.

Commemorating this major milestone, a campaign microsite features the latest updates on events, offers and happenings that guests may enjoy or participate in. An interactive game also allows guests to put their knowledge on Ascott to the test, with a chance to win stay vouchers and Ascott Star Rewards (ASR) points to unleash their wanderlust.

With a suite of 14 brands offering a multitude of stay experiences, guests will enjoy a complimentary fourth night with a minimum of three nights booked using the promotional code “ASCOTT40” from now till 31 December 2024. Unlimit Your Stay with One Free Night.

Loyalty members can look forward to enhanced benefits and elevated experiences as ASR celebrates its fifth anniversary this year. Offering guests even more value, all new or Classic tier ASR members will be gifted with an instant status upgrade to the Silver tier upon their first login to the Discover ASR mobile app, with additional reward points to be earned.

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