Ascott says that this expansion rides on the growing demand for “bleisure”, or business and leisure for short, a global market valued at US$600 billion.
Oakwood remains one of the fastest-growing brands in Ascott’s portfolio, driven by its strong positioning to capitalise on the increasing popularity of bleisure travel, says Serena Lim, chief growth officer at Ascott.
“These new signings continue to drive Oakwood’s expansion into the resort sector, including the introduction of Oakwood Jimbaran Villas & Residences in Bali, one of the region's most sought-after resort destinations,” says Lim.
“Beyond the volume of signings, we are seeing greater interest from property owners in the higher-tier Oakwood Premier brand following its recent refresh, with one in every four Oakwood signings in 2024 being an Oakwood Premier property. Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali and Shenzhen.”
As at 7.37am, shares in CapitaLand Investment are trading 4 cents lower or 1.606% down at $2.45.
