As it accelerates its global expansion strategy, CapitaLand Investment (CLI)’s lodging business subsidiary, The Ascott Limited (Ascott), today announced several significant milestones in the European market. These include expanding the Lyf brand in the region and adding six additional properties to its portfolio in Europe, which will mark the launch of The Unlimited Collection brand. These new hires will increase Ascott’s portfolio in Europe by 14% to over 8,000 units across six brands, building on the increased demand for Ascott’s suite of brands. Additionally, Ascott will expand its presence in the region from 24 to 29 cities. Colmar in France and Edinburgh, Glasgow, Leicester, and Manchester in the United Kingdom are the five new cities.
As the Official Global Hotels Partner of Chelsea Football Club (Chelsea), Ascott has forged a strategic multi-year collaboration with the English Premier League team in an effort to increase its awareness in Europe and promote its vast global network. Beginning in 2H 2024, Ascott will also take over administration of the 232-unit stadium hotels at Chelsea’s home stadium, Stamford Bridge in London. The properties will serve as a showcase for Ascott’s hospitality to Chelsea supporters worldwide when it is relaunched as Lyf Stamford Bridge London in the second half of 2025. Please see the Ascott and Chelsea joint news release for additional details about the partnership.
Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging, said: “As a global tourism and business hub, Europe plays a key role in Ascott’s expansion plans. The diverse and dynamic nature of its hospitality sector offers plenty of scope for Ascott to drive more successful partnerships with owners. We will achieve this by leveraging Ascott’s flex-hybrid hotel-in-residence model, which is designed to meet the varying needs of owners and guests through a wide selection of brands and customised solutions, backed by experienced teams with deep local knowledge.”
“With five of the six new signings in Europe year to date being conversion projects, Ascott’s established suite of conversion capabilities has already been proven as effective in gaining the confidence of property owners. We expect franchise management to be our next pillar of growth in Europe, where market conditions are conducive for this business segment. For our existing owners, we will continue to deliver sustained value by embarking on asset enhancement initiatives that elevate the stay experiences of guests,” added Mr Goh.
Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott, said: “Our European portfolio has been delivering strong performance, driving average daily rates of almost 30% higher than pre-pandemic levels. In 2023, our properties in Europe far exceeded all other markets in terms of revenue per available unit (RevPAU) and contributed to almost 16% of Ascott’s global revenue. By expanding and strengthening Ascott’s presence in some of Europe’s key markets, we will be better positioned to capture the growth opportunities in Europe and contribute to the region’s thriving tourism sector.”
“Europe also serves as a significant source of guests for Ascott’s extensive network of hotels worldwide. In 2023, travellers from Europe contributed to about 16% of Ascott’s global hospitality business. Riding on Ascott’s expanded portfolio in Europe coupled with increased efforts to build on the brand in the region, we are targeting to almost double this figure to 30% by 2028, placing Europe as a top three source market for Ascott,” added Mr Lee.
Starting July 2024, Ascott will become the Official Global Hotels Partner of Chelsea for the next four seasons. Leveraging Chelsea’s strong following as one of the world’s 10 most popular football clubs[1], Ascott aims to introduce its extensive portfolio of hospitality brands and properties around the globe to a new catchment of guests.
This partnership will see collaborative efforts in offering “money can’t buy” experiences for members of the Ascott Star Rewards (ASR) loyalty programme worldwide. These include exclusive access to matches at Stamford Bridge and VIP visits to The Blues Cobham Training Ground. The Ascott brand will also be displayed at Stamford Bridge for both Men’s and Women’s matches, as well as across Chelsea’s social and digital channels with engaging content for fans to enjoy. In line with Ascott’s commitment to bring Chelsea closer to its overseas fans, Ascott will become the presenting partner of Chelsea’s flagship international fan engagement event, the Famous CFC, in two international markets.
Ms Tan Bee Leng, Chief Commercial Officer, Ascott, said: “The partnership taps on the strong synergy between Ascott and Chelsea as storied brands with global ambitions and extensive networks. As the Official Global Hotels Partner, Ascott will collaborate with Chelsea on a series of innovative marketing and promotional initiatives to engage with millions of football enthusiasts across Europe and beyond. Leveraging the club’s massive global fanbase of over 600 million[2] people worldwide and its premier position in European football, the partnership will provide unparalleled opportunities for Ascott to bring together the worlds of hospitality and football to curate memorable fan engagement activities, exclusive offers for Chelsea supporters, and bespoke stay experiences at Ascott properties for fans and guests alike.”
“With loyalty as a key driver of growth, we recognise the importance of providing unique and impactful experiences for loyal members of Ascott Star Rewards. Offering exclusive opportunities to attend coveted events like Premier League football matches, major tennis tournaments, and other high-profile activities not only enhances travel experiences but also deepens guests’ connection with our brands. In line with the brand promise of ASR to ‘Stay Rewarded’, these extraordinary experiences represent Ascott’s commitment to foster a sense of belonging and appreciation that is inherently rewarding for our guests,” added Ms Tan.
2024 year to date, Ascott has inked six new property signings totalling about 1,000 units in Europe, with one property each in Colmar in France, as well as Edinburgh, Glasgow, Leicester, London and Manchester in the United Kingdom. These bring Ascott’s portfolio in Europe to over 60 properties, including both operating and in the pipeline.
The signings in Edinburgh and Leicester will mark the Europe debut of The Unlimited Collection brand by Ascott, a selection of independent upscale hotels with exquisite designs in vibrant neighbourhoods that cater to travellers’ demand for authenticity and immersive local cultural experiences. Originating from Singapore, The Unlimited Collection is a soft brand that enables Ascott to partner with independent owners who would like to preserve the unique identities of their properties while leveraging Ascott’s expertise in hospitality management, supported by its global distribution system and loyalty network.
Meanwhile, Colmar will welcome Citadines while three new properties – one each in Glasgow, London and Manchester – will signal the expansion of the lyf brand in Europe.
Info based on Press Release sent to Malaysia World News
