Ascott Grows Its Resort Portfolio with a Diverse Brand Strategy
Ascott is expanding its resort portfolio to meet the increasing demand for experiential stays, unveiling several new properties across various regions.
Ascott’s Portfolio Expansion
Ascott is scaling its global resort footprint through an asset-light expansion strategy. With around 50 properties in resort destinations operational or under development, the company responds to the growing demand for experiential stays. In the past ten months, 12 new signings have taken place through management and franchise agreements, highlighted by the upcoming Ascott Abov Patong Phuket Resort, which is just 150 meters from the well-known Patong Beach. The resort will offer 254 rooms, alongside comprehensive leisure facilities and event spaces.
Key Developments
Recent expansions include well-placed locations in iconic beach destinations like Patong Beach in Phuket and Jimbaran Beach in Bali. New opportunities are emerging in communities such as Marjan Island, well-known for pristine beaches.
In Vietnam, Ascott’s presence is increasing in popular regions like Phu Quoc and Nha Trang. The regional expansion aligns with Ascott’s multi-typology brand strategy that adapts known brands like Aspire, Citadines, and lyf to resort settings.
Industry Trends
Global leisure travel spending is expected to triple to USD 15 trillion by 2040, driven by rising demand from emerging middle classes seeking experience-heavy travel options. The resort segment particularly anticipates substantial growth, showcasing versatile offerings that meet diverse guest preferences.
Comments from Leadership
“As leisure travel continues to grow steadily, we’re witnessing significant momentum from property owners eager to partner with us in expanding our resort offerings,” said Serena Lim.
Tan Bee Leng asserted that resorts play a critical role in the brand’s ability to enhance guests’ travel experiences, boosting the Ascott Star Rewards loyalty program while maintaining operational excellence.
Future Goals
Ascott aims to maintain its proactive growth trajectory, planning over 20 new properties in resort destinations to be launched over the next three years, bolstering its lifestyle hospitality presence in key leisure markets globally.
