Ascott has signed seven new properties in Vienna and Seville through franchise and management agreements, adding nearly 1,100 units and expanding its European portfolio to 64 properties with about 8,500 units across 26 cities in 10 countries.
Globally, Ascott now manages more than 1,000 properties with over 175,000 units.
The signings were made during the official opening of lyf Gambetta Paris, Ascott’s first lyf property in France and third in Europe. The lyf brand now has eight properties in the region, either open or in development.
Five of the new properties are in Vienna, deepening Ascott’s partnership with VIE Trust Real Estate Group and adding 750 units across multiple brands, including a second lyf property due to open by end-2026. These additions bring Ascott’s Vienna portfolio to nine properties with nearly 1,400 units.
In Seville, Ascott will partner with Forty Management to manage two properties – a 250-unit lyf and a 120-unit Somerset – within the 12.5-hectare Lagoon City Seville mixed-use development. Scheduled to open at the end of 2028, the project marks Ascott’s first beachside resort in Europe and expands its Spanish portfolio to three properties with more than 500 units.
Kevin Goh, CEO of Ascott, shared: “Europe is a cornerstone of Ascott’s global growth strategy, offering a resilient, high-yield market underpinned by strong tourism fundamentals and fragmented supply, where a significant portion of quality assets remain unbranded.”
“The momentum across our European portfolio reflects a disciplined expansion strategy focused on destinations where quality accommodation meets authentic demand,” added Lee Ngor Houai, COO, Europe, Middle East, Africa, South Asia and China, Ascott.
