Singapore-based lodging company The Ascott Limited will open 70 new properties across Asia-Pacific and Europe in 2023, the company announced Tuesday. The expansion will add nearly 13,500 units to Ascott’s 14-brand portfolio across 900 properties spanning more than 220 cities.
The company’s expansion will include two new properties from its corporate- and bleisure-focused brand Oakwood in Greater China with Oakwood Suites Chongli, and in Indonesia with Oakwood Hotel & Apartments Benoa Bali, the company said. Ascott also plans to open 21 apartment-style properties from its Citadines brand, with openings in Asia-Pacific, including Citadines Harbour Front Yokohama near Haneda International Airport and Citadines Walker North Sydney, and European openings of Citadines Canal Amsterdam and Citadines Danube Vienna, the company said.
Additionally, Ascott said it would open 12 new Somerset-branded properties across Greater China, the Philippines and Austria. Ascott also plans to open seven new properties under its co-living brand Lyf in Austria, Greater China, Japan, Malaysia, the Philippines and Thailand.
Ascott’s total expansion plans include previously announced property openings this year from its luxury brand Ascott, The Crest Collection and The Unlimited Collection.
Ascott is owned by global real estate investment manager CapitaLand Investment.
