In 2025, Ascott entered more than 10 new cities across Asia Pacific and Europe, growing its global footprint to over 230 cities in more than 40 countries. The company now operates and has under development more than 1,000 properties with over 176,000 units globally, according to a Feb 9 announcement.
The flagship Ascott brand recorded 10 new signings, expanding its global portfolio to 87 properties including operational and pipeline assets.
The 185-room Ascott Nangang Taipei in Nangang Software Park is scheduled to open in 1Q2027, marking Ascott’s entry into Taipei. Located in one of the city’s premier business districts, the serviced residence is part of a prime mixed-use development that also houses Taiwan Fertilizer’s headquarters and multinational firms like HP, Yahoo, Philips and Intel.
Closer to home, new additions include the 207-room Ascott Coronation Square Johor Bahru, which will be located in the Ibrahim International Business District of the Johor-Singapore Special Economic Zone, with direct connection to the upcoming Rapid Transit System Line.
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Last month, Ascott unveiled the Ascott Shenton Way Singapore, the brand’s third property here. Expected to be completed in 4Q2029, the 29-storey mixed-use development at 15 Enggor Street will offer 42 hotel rooms and 95 serviced apartments.
In 2025, Citadines surpassed 200 properties globally with 17 new signings, boosted by its “conversion-friendly positioning”; while Oakwood secured 16 signings, maintaining “strong owner appeal” across business, leisure and extended-stay segments, according to Ascott.
Ascott’s collection brands also continued their expansion — The Unlimited Collection expanded into Africa and Europe, while The Crest Collection entered the Middle East. Following the signing of The Unlimited Collection in Casablanca, Morocco, Ascott’s portfolio in “one of Africa’s most dynamic hospitality markets” now comprises 10 operational and pipeline properties across Casablanca, Tangier and Marrakech.
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Franchise growth
More than a quarter of the units signed in 2025 were under franchise agreements, supporting Ascott’s asset-light expansion.
Franchise momentum in East Asia accelerated as the company strengthened its regional pipeline. Five Quest properties were secured in China through Ascott’s joint venture with Jin Jiang, alongside four franchise agreements to expand Citadines’ presence in the country.
The largest franchise signing of the year was the 510-key Oakwood in Gangneung, South Korea, a resort-led development in Gangneung’s Cultural Olympic Special Zone, located two hours away from Seoul by high-speed train.
In other regions, Ascott’s Quest franchise contributed five new signings in Australia.
Over 38% of units signed in 2025 were conversions, “reflecting owners’ preference for faster, lower-risk routes to market”, says Ascott.
Recent conversions, including Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and Lyf Zhangjiang Shanghai, were completed “within months of signing”, according to Ascott.
Lyf Zhangjiang Shanghai sits within China’s national hub for science and technology innovation, at the heart of the Pudong New Area. With 150 units, each room comes with a fully equipped kitchen
Resort portfolio expansion
Capitalising on leisure travel demand, Ascott drove 15 resort signings in locations like Phuket, Phu Quoc, Nha Trang and Bali, expanding its portfolio in resort destinations to over 50 properties.
The 693-unit Harris Resort Cam Ranh — slated to open this year — marks the brand’s first entry into Vietnam, alongside a 250-unit Lyf and a 120-unit Somerset at Lagoon City Seville, Spain, a mixed-use development anchored by an 18,000 sqm man-made lagoon.
The company also expanded its branded residences portfolio by partnering with developers on two new properties, adding over 1,000 units: Residences at Ascott Abov Patong Phuket, next to Ascott Abov Patong Phuket Resort; and Oakwood Premier Branded Residences Luohu Shenzhen, co-located with Oakwood Premier Luohu Shenzhen.
In 2025, Ascott expanded its branded residences portfolio by partnering developers on two new properties, adding over 1,000 units. These include the 227-unit Residences at Ascott Abov Patong Phuket, just 150m from Patong Beach
Ascott’s Oakwood Premier Branded Residences Luohu Shenzhen will feature 792 residential units, sharing the same building as the 450-unit Oakwood Premier Luohu Shenzhen
According to Ascott, co-locating branded residences with its hotels “enhances operational and marketing synergies”.
Serena Lim, Ascott’s chief growth officer, says consumers are seeking “greater flexibility and choice” in how they live, work and explore. “Guided by insights from our owners and guests, we have pursued a deliberate growth strategy anchored in our flex-hybrid model and a differentiated suite of flexible living offerings.”
Lim adds that approximately 30% of new signings came from existing partners expanding with Ascott.
Ascott CEO Kevin Goh says the new signings provide embedded income to exceed the company’s $500 million fee target, which was announced in April 2023. “Our flex-hybrid model and multi-typology brand strategy enable us to optimise performance for property owners across market cycles, while disciplined investments in loyalty, technology and business development position us to capture growth in higher-fee segments including resorts, branded residences, MICE (Meetings, Incentives, Conventions, Exhibitions) and wellness.”
Photos: The Ascott
