Ascott achieves record growth in 2021

Ascott achieves record growth in 2021

United Arab Emirates: – CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) has secured 15,100 units across 72 properties globally in 2021. This marks the fifth consecutive year Ascott has achieved record growth in units organically despite COVID-19 headwinds in the past two years. Serviced residences continue to be Ascott’s mainstay, making up over 60% of the new signings while the number of hotels secured grew in 2021.

The World’s Leading Serviced Apartment Brand achieved its highest-ever property openings in 2021, launching over 8,200 units in 40 properties across 25 cities and 10 countries. Ascott’s current portfolio in the MEAT region comprises 4,269 units in 32 properties, across 14 countries. With imminent expansion plans underway, and Group is on track with its expansion plans to achieve its regional target of adding extra 6,000 units to its Middle East, Africa, and Turkey (MEAT) portfolio, to reach a total of 10,000 units by 2025 and 160,000 units globally by 2023; Ascott will look to operate an additional 20 properties in the region. In Africa, these include, Citadines Racine Casablanca, Citadines Connect Belvedere Casablanca, Somerset Rosslyn Nairobi, Somerset Bole Addis Ababa, Ascott Kazanchis Addis Ababa, Ascott Riviera Golf Abidjan,