Ascott signs 16 Oakwood properties in 2024

Worldwide: The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment, signed 16 Oakwood properties in 2024, representing a 30 per cent increase over the previous year.

The Oakwood portfolio now comprises nearly 100 properties, both operational and in the pipeline, spanning 14 countries and 50 cities.

Key openings in 2024 include the ski resort Oakwood Suites Chongli in Zhangjiakou City, China; the all-villa Oakwood Ha Long, located in the centre of Ha Long City; and Oakwood Hotel & Apartments Grand Batam in the Indonesian Riau Islands. 

Following last year’s brand refresh, all new Oakwood properties also feature on-site dining options.

Tan Bee Leng, chief commercial officer for Ascott, said: “As bleisure travel continues to grow, our guests are increasingly seeking distinctive culinary experiences. This reflects a broader shift towards experiential travel, where food acts as a gateway to understanding and appreciating the culture and heritage of each destination.

“Our food and beverage programme All You Knead is Comfort goes beyond the physical dining spaces by offering guests interactive culinary events like cooking classes, food tastings and seasonal offerings. These activities enable guests to engage directly with local chefs and food traditions, enriching their stay and creating lasting memories,” she said.

Serena Lim, chief growth officer for Ascott, said: “Oakwood remains one of the fastest-growing brands in Ascott’s portfolio, driven by its strong positioning to capitalise on the increasing popularity of bleisure travel. 

“These new signings continue to drive Oakwood’s expansion into the resort sector, including the introduction of Oakwood Jimbaran Villas & Residences in Bali, one of the region’s most sought-after resort destinations. 

“Beyond the volume of signings, we are seeing greater interest from property owners in the higher-tier Oakwood Premier brand following its recent refresh, with one in every four Oakwood signings in 2024 being an Oakwood Premier property. Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali and Shenzhen,” she added.