Singapore: Ascott secured 15,100 units across 72 properties globally in 2021, marking the fifth consecutive year the company has achieved record growth.
Serviced apartments continue to be Ascott’s mainstay, making up more than 60 per cent of the new signings while the number of hotels secured also grew in 2021.
Ascott also closed 2021 to achieve its highest-ever property openings, launching more than 8,200 units in 40 properties across 25 cities and 10 countries. This is more than double the units opened in 2020. The properties opened in 2021 includes Ascott’s first Adoor-branded rental housing property, Adoor Apartment Heda Hangzhou (Xiasha) and its first lyf-branded coliving property, lyf Mid-Town Hangzhou, in China.
Kevin Goh, Ascott parent CapitaLand’s CEO for lodging, said: “In 2021, Ascott continued with our strong growth trajectory despite COVID-19. Our record signings for the fifth consecutive year anchors Ascott’s market leading position as an international lodging operator. More than 80 per cent of the new units secured in 2021 were under management and franchise contracts, in line with Ascott’s asset-light growth strategy. We also opened a record number of units in 2021, readying ourselves for the recovery of travel in 2022. The newly signed and opened properties will be a welcome boost to our recurring fee income, as we build on this momentum to meet our target of 160,000 units globally by 2023.”
