Our Businesses

Lodging Management

CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is a leading vertically-integrated lodging owner-operator. Ascott is driven by a vision to be the preferred hospitality company, enriching global living with heartfelt experiences. With a portfolio of more than 990 properties across 230 cities in over 40 countries, Ascott’s presence spans Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its diverse collection of award-winning brands includes Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello. 

Ascott specialises in managing and franchising a wide range of lodging options, including serviced residences, hotels, resorts, social living properties and branded residences, catering to the varying needs and preferences of global travellers. Through the Ascott Star Rewards (ASR) loyalty programme, members enjoy exclusive privileges and curated experiences, enhancing every aspect of their travel journey.

A key contributor to CLI’s fee-related business, Ascott generates fee-related earnings by leveraging its expertise in both lodging management and investment management. It also drives the expansion of funds under management by growing its sponsored CapitaLand Ascott Trust and private funds. 

With 40 years of hospitality excellence, Ascott offers endless possibilities for guests to live their journey and experience it their way. Ascott continues to reimagine hospitality as a tapestry of experiences infused with choice, loyalty, and authenticity.  Guests are invited to ‘Stay Your Way’ with their favourite Ascott brands and discover Global Living with Unlimited Possibilities

StayYourWay StayYourWay
A resilient lodging business model well-positioned for growth

  • Vertically-integrated lodging platform to drive growth in fee-related earnings and funds under management

  • Asset-light with 90% of units under management and franchise contracts

  • Achieved record openings with 11,700 units in FY 2024

  • Extensive experience in managing a diverse portfolio of accommodation types with a flex-hybrid model

  • Ascott Orchard Singapore

    Ascott Orchard Singapore

  • Ascott Heng Shan Shanghai, China

    Ascott Heng Shan Shanghai, China

  • Citadines Trafalgar Square London, United Kingdom

    Citadines Trafalgar Square London, United Kingdom

  • La Clef Louvre Paris, France

    La Clef Louvre Paris, France

  • Somerset Ho Chi Minh City, Vietnam

    Somerset Ho Chi Minh City, Vietnam

  • lyf one-north Singapore

    lyf one-north Singapore

A Resilient And Differentiated Business Model Powered By Two Engines of Growth

Ascott's business model Ascott's business model

Best-In-Class Global Lodging Operator

Strong brand equity
Award-winning lodging brands established for 40 years

For the full list of Ascott properties, please visit https://www.discoverasr.com/.

Direct distribution to a large customer network

  • Direct access to a wide customer network with increased customer stickiness through the Ascott Star Rewards - a loyalty programme that serves as a direct source of income for Ascott

  • Unifying 14 lodging brands on one global online travel booking platform: discoverasr.com. The platform provides guests with one-stop access to Ascott’s serviced apartments, coliving spaces and hotels

Technology-enabled operations

  • Highly connected digital touchpoints to deliver superior guest experiences

  • Technology and process re-design to improve operational efficiency while keeping costs in check

Sustainability commitment through Ascott CARES
  • Through Ascott’s sustainability programme, Ascott CARES, it aligns its growth strategy with environmental, social and governance considerations. Ascott CARES centres around five pillars - Community, Alliance, Respect, Environment and Supply Chain.

Global Lodging Investment Manager

Strong investment management capabilities supported by lodging management expertise

In addition to increasing its recurring fee income by securing more management and franchise contracts, Ascott’s growth strategy also emcompasses investing in quality lodging properties, including via its investment vehicles such as its sponsored lodging trust, CapitaLand Ascott Trust (CLAS) and its private funds, Ascott Serviced Residence Global Fund (ASRGF), CapitaLand Ascott Residence Asia Fund II (CLARA II) and Student Accommodation Development Venture (SAVE). Combining CLI’s investment management capabilities and Ascott’s expertise in operating lodging properties worldwide, Ascott is well-positioned to support the growth of its lodging trust and private funds.

CapitaLand Ascott Trust logo CapitaLand Ascott Trust logo
CapitaLand Ascott Trust (CLAS) is the largest lodging trust in Asia Pacific. It invests primarily in income-producing real estate and real estate-related assets which are used or predominantly used as serviced residences, rental housing properties, student accommodation and other hospitality assets.

  • Opened in 2023, Citadines Walker North Sydney is at the epicentre of North Sydney’s commercial, retail, and social scenes, surrounded by bars, restaurants, and healthcare services.

  • Ascott Serviced Residence Global Fund (ASRGF)

    Established in 2015, ASRGF focuses on assets in prime locations within key gateway cities. Under the fund, Ascott has acquired several properties across Australia, China, France, Indonesia, Japan, Netherlands, Singapore, United Kingdom and Vietnam.

  

  • CLARA II acquired two seed assets, a 50% stake in the 308-unit lyf Bugis Singapore and a 100% stake in the 200-unit lyf Shibuya Tokyo in Japan (pictured) from Ascott.

  • CapitaLand Ascott Residence Asia Fund II (CLARA II)

    Established in 2024, CLARA II invests in serviced residences and social living properties in gateway cities in key developed Asia Pacific markets. CLARA II is the follow-on fund to ASRGF.

    CLI holds a 20% sponsor stake while the remaining 80% is held by third-party institutional investors.  CLARA II leverages the global operating expertise of Ascott to manage its portfolio. CLARA II has secured its first close with equity commitment by global institutional investors from Europe and Asia. 

  

  • SAVE's first investment is a Class A freehold student accommodation development asset in Lincoln, Nebraska, USA.

  • Student Accommodation Development Venture (SAVE)

    Established in 2022, SAVE is Ascott's development venture to develop student accommodation assets in the USA. Ascott manages the venture and holds a 20% stake in the joint venture while the remaining stake is held by Riyad Capital. 
Creating value through proactive asset management

CLI and Ascott proactively manage their portfolio to create sustainable returns for investors and capital partners. This includes asset enhancement initiatives or converting the assets to optimise the performance and value of their properties. 

 

  • The Robertson House by The Crest Collection

  • The Robertson House by The Crest Collection along the iconic Singapore River was unveiled on 14 October 2023 having undergone refurbishment within a short span of seven months.

    Ascott worked closely with its sponsored lodging trust, CLAS to renovate The Robertson House by The Crest Collection. Formerly the Riverside Hotel Robertson Quay, the hotel was rebranded as The Robertson House by The Crest Collection in Singapore after a phased renovation.

     

Unlocking value through divestments and capital recycling

Ascott constantly evaluates the growth potential of its properties and seek divestment opportunities for those which have reached an optimal stage of their life cycle. Sale proceeds could be redeployed into higher-yielding investments, asset enhancement initiatives, repayment of borrowings and to enhance its flexibility to capture growth opportunities.

Leveraging extensive third-party owners' network

With a global presence and strong business development teams on the ground, Ascott has the distinct capacity to create value by connecting its partners with investment opportunities. Leveraging its extensive local knowledge, Ascott is able to access off-market investment deals and match them with a ready pool of trusted lodging property owners and capital partners. 

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