The Ascott Limited (Ascott), a lodging business unit wholly owned
by CapitaLand Investment, today announced that it expects to open 70 properties in key travel destinations across fast-growing markets in Asia Pacific and Europe in 2023.
The launch of these properties comes at an opportune time as Ascott recognises the need to address emerging trends in today’s post-pandemic travel landscape, marked by evolving traveller demands and renewed appetites for fresh experiences.
Ms Tan Bee Leng, Ascott’s Managing Director for Brand & Marketing, said: “Riding on the recovery of international travel, Ascott opened more than 45 properties in 2022. This year, we will
see our highest-ever property openings, launching close to 13,500 units across 70 properties. This strong pipeline of property openings spans all brands and will support the continued rebound in travel and tourism spending, bolstered by the relaxation of travel restrictions and the normalisation of flight frequency to pre-pandemic levels. Shifts in traveller expectations and preferences are happening alongside this upward growth trajectory. Ascott is keeping on top of these latest travel trends to curate worthwhile and meaningful experiences for our guests. Our portfolio of brands addresses the varying travel preferences – from coliving and solo travel in a new city, to generational travel and relocation for work.”
Seeking to define global living with stay experiences tailored to the preferences of different traveller segments, Ascott has today established a diversified brand portfolio that bears strong
foothold in catering to the emergence of new travel patterns today.
Transforming the coliving sector with lyf
The pandemic has fundamentally changed the way individuals live and work. Flexibility has come to the fore, with digital nomads and self-starters preferring to work remotely, demanding novel experiences and opportunities to connect with like-minded individuals in coliving spaces. With the next generation of travellers seeking more meaningful spaces that allow for interaction, Ascott will grow its coliving brand, lyf, across the region and beyond. From shared social spaces to experiential programmes that enable guests to forge connections and nurture a strong sense of community, lyf is thoughtfully designed to serve the needs of next-generation travellers.
