Ascott expands Southeast Asia footprint

The Ascott Limited reported its strongest-ever expansion in Southeast Asia in 2025, signing more than 7,300 units across the region — a 55-percent increase from 4,700 units in 2024.

The company said the growth places it among the top three hospitality firms in Southeast Asia in terms of new signings, citing data from Horwath HTL.

Ascott, the lodging business unit of CapitaLand Investment, said the expansion reflects strong demand from property owners and improving tourism fundamentals across the region.

“Southeast Asia continues to be one of the most dynamic hospitality markets in the world and Ascott is well positioned to capture the opportunity,” said Serena Lim, chief growth officer of Ascott.

“With over four decades in our home base, we have established deep market expertise and a trusted brand presence, positioning us for our next phase of growth,” she added.

The company currently operates more than 200 properties in Southeast Asia, with a pipeline of about 150 additional developments. Over 25 new properties are expected to open within the next 12 months, underscoring continued investor confidence in its brands.

Ascott said its expansion is driven by rising intra-ASEAN travel demand, increasing visitor spending, and improved regional connectivity following the recovery of tourism in 2025.

The group is also expanding into about 20 new cities across the region, including destinations in Vietnam, Thailand, Indonesia, Malaysia, and the Philippines such as Davao and Biñan.

Wong Kar Ling, chief strategy officer and managing director for Southeast Asia, said upcoming openings will further strengthen the region’s role in the company’s growth strategy.

“The upcoming wave of openings reinforces Southeast Asia’s role as both a core growth engine and a showcase for Ascott’s multi-typology brand strategy,” Wong said.

Ascott said around 30 percent of its development pipeline will come from property conversions, allowing it to reposition existing assets and accelerate market entry.

The company’s expansion spans multiple lodging formats, including serviced residences, hotels, resorts, and branded residences under brands such as Ascott, Citadines, lyf, Oakwood and Somerset.

Resort developments are expected to drive a significant portion of growth, with new properties planned across Vietnam, Indonesia, Thailand, Malaysia and the Philippines, including a project in Siargao.

In the Philippines, upcoming openings include Ascott Ortigas Manila and Citadines Mactan Cebu Resort, as part of efforts to strengthen its presence in key business and leisure destinations.