Ascott has been in operation for more than four decades, and so the company’s record 19,000 units signed in 2025 is significant beyond scale alone. While the group’s institutional backing and global resources have clearly enabled such impressive expansion, what were the contributing factors that underpinned performance, and why has this milestone been reached now?
In 2023, as part of the group’s refresh of its flagship Ascott brand, the company introduced a flex-hybrid model. Instead of treating serviced apartments, hotels, resorts and coliving as independent categories within its portfolio, Ascott set the scene for “hotel-in-residence” accommodation, where properties canpivot operations in response to shifting demand patterns. Having helped pioneer the professional serviced residence product in APAC back in 1984, Ascott’s recent launch of its flex-hybrid model has broadened its appeal beyond traditional long-stay, contributing to stronger signings.
Resorts, for instance, have emerged as a natural extension of this strategy; Ascott has adapted its extended stay brands including Citadines, lyf and Oakwood for resort settings, having signed 15 properties in this category last year. Conversions have also been a critical driver of Ascott’s 2025 growth, with more than 38 per cent of new units coming from repositioned existing assets.
The ability to execute conversions at pace combined with a flexible operating model points to a sector in transition, shifting away from rigid typologies towards a more blended offering that better aligns with evolving owner priorities and guest demand.
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Flex-hybrid fuels Ascott’s growth
Ascott has been in operation for more than four decades, and so the company’s record 19,000 units signed in 2025 is significant beyond scale alone. While the group’s institutional backing and global resources have clearly enabled such impressive expansion, what were the contributing factors that underpinned performance, and why has this milestone been reached now?
In 2023, as part of the group’s refresh of its flagship Ascott brand, the company introduced a flex-hybrid model. Instead of treating serviced apartments, hotels, resorts and coliving as independent categories within its portfolio, Ascott set the scene for “hotel-in-residence” accommodation, where properties canpivot operations in response to shifting demand patterns. Having helped pioneer the professional serviced residence product in APAC back in 1984, Ascott’s recent launch of its flex-hybrid model has broadened its appeal beyond traditional long-stay, contributing to stronger signings.
Resorts, for instance, have emerged as a natural extension of this strategy; Ascott has adapted its extended stay brands including Citadines, lyf and Oakwood for resort settings, having signed 15 properties in this category last year. Conversions have also been a critical driver of Ascott’s 2025 growth, with more than 38 per cent of new units coming from repositioned existing assets.
The ability to execute conversions at pace combined with a flexible operating model points to a sector in transition, shifting away from rigid typologies towards a more blended offering that better aligns with evolving owner priorities and guest demand.
Subscribe to the SAN newsletter for weekly industry insights here.
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