The Ascott Limited (Ascott) has refreshed its flagship namesake brand, Ascott, to showcase its flex-hybrid accommodation concept. This announcement follows the unveiling of Ascott’s refreshed Citadines and Somerset brands last year.
Operating on a flex-hybrid model will enable Ascott to be responsive to shifts in demand and be able to pivot its operations to suit the needs of the market and optimise occupancy to drive revenue growth.
This hotel-in-residence model, with its added level of adaptability, enables Ascott to cater for varying lengths of stays according to the guest’s needs – whether travelling solo or in groups – while providing the services, facilities and amenities of a hotel. Similarly, Ascott’s portfolio of hotels will also have the flexibility to offer extended stays if required.
Kevin Goh, CEO for Ascott and CapitaLand Investment Lodging, said: “The model also mitigates the risks associated with over-reliance on a single market segment. When one segment experiences a downturn, the business can focus on other segments that are performing better. This adaptability ensures a more stable income stream and reduces vulnerability to economic volatility.”
He continued: “Amid a renewed hospitality landscape post-Covid, there’s certainly demand from our guests seeking these types of hotel-in-residence properties. The hotel-in-residence model enhances the efficiency of our hospitality portfolio, by adapting to market shifts, intensifying asset utilisation, diversifying revenue streams, improving guest satisfaction and optimising operational costs. The agility empowers Ascott to deploy its resources strategically, to generate higher returns for our investors and owners.”
The flagship brand was launched with the opening of The Ascott Singapore in 1984, as the first international-class serviced residence in Asia-Pacific.
Tan Bee Leng, Ascott’s managing director for brand & marketing, said: “While the brand continues to be deeply rooted in its serviced residence heritage, the brand refresh will augment Ascott’s flex-hybrid strategy with room options ranging from studio apartments, penthouse suites to connecting and dual-key units.”
The refreshed Ascott brand aims to deliver fine living without the fuss of excessive opulence, for seasoned travellers with a preference for the quiet expression of luxury as they resume travel. This can be seen throughout Ascott’s properties’ décor, personalised touch points and services.
The Ascott brand portfolio comprises over 40 operating properties extending across nine countries globally year to date. More than 30 properties are in the pipeline and slated to open in the next five years. The brand also has plans to double its footprint in China (currently 23 operating properties) by 2028.