The Ascott’s portfolio of charming bespoke hotels and serviced residences under The Crest Collection brand is on a strong growth trajectory, with seven properties in operation and more to come in London, Bucharest, Hanoi, Tokyo and Paris.
The company debuted the brand in Asia with the opening of three properties in Singapore, Indonesia, and Malaysia, between the months of August and October 2023. Newest in this lot is The Robertson House by The Crest Collection, which stands along the Singapore River. It opened on October 14 following a seven-month refurbishment.
The Crest Collection opens three properties in Asia in quick session; The George Penang by The Crest Collection pictured
The Grand Mansion Mentang by The Crest Collection in Jakarta, Indonesia and The George Penang by The Crest Collection in Penang, Malaysia were both signed and rebranded in August and October 2023 respectively.
These properties join The Crest Collection’s four in France, which have recorded a strong occupancy rate of about 73 per cent, with the average daily rate increasing by up to eight per cent over the previous year.
Riding on the success of the portfolio in France, The Crest Collection has gained strong traction and further recognition in Europe. The 230-key The Cavendish London – the brand’s first property in the UK – will undergo a one-year renovation next year and reopen in 4Q2025. It will expand into Bucharest, Romania with a 171-unit property set to open in 3Q2025, and add a fourth to Paris come 2026.
Serena Lim, Ascott’s chief growth officer, said: “Ascott has seen a growing demand for collection brands from owners as they provide flexibility of a distinctive property positioning while being backed by the power of a global brand through its global sales and distribution platforms, and strong loyalty base. The ease of conversion with a collection brand means increased speed to market, and that is key especially in today’s economic climate amidst tighter lending conditions and rising construction costs.
“At Ascott, we are committed to manage our owners’ assets not only for the short and medium term. Bearing in mind long-term strategic growth, we work closely with our owners to uplift the value of their real estate, ensure longevity and future proof their business.”
The Ascott’s portfolio of charming bespoke hotels and serviced residences under The Crest Collection brand is on a strong growth trajectory, with seven properties in operation and more to come in London, Bucharest, Hanoi, Tokyo and Paris.
The company debuted the brand in Asia with the opening of three properties in Singapore, Indonesia, and Malaysia, between the months of August and October 2023. Newest in this lot is The Robertson House by The Crest Collection, which stands along the Singapore River. It opened on October 14 following a seven-month refurbishment.
The Grand Mansion Mentang by The Crest Collection in Jakarta, Indonesia and The George Penang by The Crest Collection in Penang, Malaysia were both signed and rebranded in August and October 2023 respectively.
These properties join The Crest Collection’s four in France, which have recorded a strong occupancy rate of about 73 per cent, with the average daily rate increasing by up to eight per cent over the previous year.
Riding on the success of the portfolio in France, The Crest Collection has gained strong traction and further recognition in Europe. The 230-key The Cavendish London – the brand’s first property in the UK – will undergo a one-year renovation next year and reopen in 4Q2025. It will expand into Bucharest, Romania with a 171-unit property set to open in 3Q2025, and add a fourth to Paris come 2026.
Serena Lim, Ascott’s chief growth officer, said: “Ascott has seen a growing demand for collection brands from owners as they provide flexibility of a distinctive property positioning while being backed by the power of a global brand through its global sales and distribution platforms, and strong loyalty base. The ease of conversion with a collection brand means increased speed to market, and that is key especially in today’s economic climate amidst tighter lending conditions and rising construction costs.
“At Ascott, we are committed to manage our owners’ assets not only for the short and medium term. Bearing in mind long-term strategic growth, we work closely with our owners to uplift the value of their real estate, ensure longevity and future proof their business.”