Worldwide: The Ascott Limited has achieved a record year of property openings and fee earnings, and has kickstarted 2024 with the launch of ‘Ascott Unlimited’ to support future growth.
The Ascott has achieved a 28 per cent year-on-year increase in fee-related earnings to S$331 million, up from S$258 million in 2022.
Last year, Ascott also achieved the highest number of property openings with nearly 9,600 units turning operational. 77 new properties across all brands were signed in 2023.
The company has strengthened its leadership team as it gears up for 2024. Key appointments include:
• Ngor Houai Lee – promoted from managing director Europe, to chief operating officer EMEA
• Bee Leng Tan – promoted from managing director, brand and marketing, to chief commercial officer
• Kar Ling Wong – promoted from managing director SEA, to chief strategy officer
• Teng Wui Leong – promoted from chief development officer, to chief design and technical officer
Kevin Goh, CEO for Ascott and parent company CLI Lodging, said: “Ascott is tapping into our experienced leadership bench to lead the charge in our next phase of growth as a global integrated lodging operator. This series of executive appointments is Ascott’s commitment to our owner and franchise communities, and to our guests, that we will be offering more best-in-class products and services to meet the strong consumer demand of modern travellers.
“With our flex-hybrid hotel-in-residence model, Ascott will continue to break new ground to meet travel needs across all stay purposes globally. Having a strong senior leadership team is integral to us achieving this vision,” he added.
Currently, Ascott is a vertically-integrated operator of around 950 properties across more than 220 cities globally, represented by a portfolio of 14 brands. The company aims to achieve more than S$500 million in fee earnings by 2028.
A year-long campaign called ‘Ascott Unlimited’ has been launched to highlight the opportunities for guests, owners, partners and associates.
Tan said: “Building on our foundation in an increasingly blended world of travel, Ascott is breaking new ground so our guests can work, stay, and play even better. With Ascott Unlimited, we are offering our guests more experiences for their next stay, with more value to enjoy, underpinned by our purpose to make a meaningful difference to travel – tomorrow and beyond.
“As we go Unlimited, we are excited to be launching initiatives that have been curated to deliver one-of-a-kind stay experiences for our guests. This will be exemplified in everything we do – from free night stays and complimentary membership tier upgrades to signature experiences and programmes unique to each brand. All to ensure our guests unlock a gateway to unlimited possibilities, wherever they are in the world,” she added.
