Published on
August 11, 2025 |
Ascott, a global leader in hospitality, has launched an ambitious asset-light strategy aimed at rapidly expanding its resort portfolio to 50 destinations worldwide. This strategic move comes in response to the growing demand for immersive travel experiences that blend comfort with cultural engagement. By focusing on a flexible and scalable model, Ascott aims to cater to the evolving needs of today’s travelers, who are increasingly seeking unique and personalized stays in destinations that offer both relaxation and local exploration.
The Ascott Limited (Ascott), the fully owned lodging arm of CapitaLand Investment (CLI), is expanding its global resort presence through an asset-light strategy. With increasing demand for immersive travel experiences, Ascott now operates and has properties in development at around 50 resort destinations globally. This includes 11 new signings within the last 10 months, secured through management and franchise agreements. These properties account for approximately 5% of Ascott’s expansive portfolio of over 1,000 locations, underscoring a focused expansion into the rapidly growing leisure sector.
This growth is fueled by Ascott’s multi-typology brand strategy, which tailors its well-known brands like Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, and The Unlimited Collection to resort settings. This approach supports scalable growth in high-potential markets while catering to the lifestyle needs of its expanding Ascott Star Rewards members, and providing property owners with long-term value-driven solutions.
Recent developments across Asia and the Middle East highlight Ascott’s commitment to growing its footprint in prime leisure destinations. The brand is entering renowned beach locales such as Patong Beach in Phuket and Jimbaran Beach in Bali. It is also expanding into Marjan Island in Ras Al Khaimah, a premier man-made coral island famed for its pristine shores. In Vietnam, Ascott is bolstering its presence in Phu Quoc, recently ranked as the world’s second-best island, and Nha Trang, a popular coastal city often referred to as the “Riviera of the South China Sea.” The company is also tapping into emerging markets like Cam Ranh, an up-and-coming leisure and aviation hub, and Sam Son, a burgeoning tourism destination. Moreover, Ascott is expanding into Labuan Bajo, Indonesia, which serves as the gateway to Komodo National Park, a UNESCO World Heritage site. In South Korea, Ascott is capitalizing on rising demand in Gangneung, a popular destination and host of the 2018 Winter Olympics.
Ascott’s expansion into resort destinations is strategically aligned with positive industry trends. Global spending on leisure travel is expected to grow threefold, reaching US$15 trillion by 2040, driven by rising demand from emerging markets such as China, India, and Saudi Arabia. Additionally, the trend of experience-focused younger travelers and increasing domestic and regional tourism further contributes to this surge. Importantly, over 70% of travelers from emerging markets are now combining business and leisure travel, highlighting the importance of the growing “bleisure” segment. In this context, the global resort market, valued at US$300.03 billion in 2023, is set for continued growth.
The market is projected to reach US$945.38 billion by 2030, expanding at a compound annual growth rate (CAGR) of 18.2%. This growth is fueled by growing disposable incomes, a surge in international travel, and a rising demand for destination-focused, experience-driven accommodations.
Ms Serena Lim, Chief Growth Officer, Ascott, said: “As leisure travel continues to outpace global tourism
growth4
, we are seeing strong momentum from property owners eager to grow with us in the resort space.
Owners are drawn to our flex-hybrid model, which optimises returns and mitigates risk in dynamic leisure
markets by serving both short and extended stays within a single operational framework. Complemented
by our multi-typology brand strategy, we align the right brand and format to each resort setting, enabling
differentiated, locally attuned guest experiences while staying responsive to evolving travel trends. Backed
by a loyal and expanding member base seeking elevated leisure experiences, Ascott is well-positioned to
deliver long-term value through exceptional resort stays, creating results for owners, delight for guests and
impact across the markets we serve.”
Ms Tan Bee Leng, Chief Commercial Officer, Ascott, said: “Resorts represent a powerful extension of
Ascott’s brand promise to let guests ‘Stay Your Way’, unlocking a world of leisure-led experiences that
elevate our Ascott Star Rewards (ASR) programme to new heights. From sun-drenched beachfront villas
and serene mountain retreats to château stays and immersive wellness escapes, each resort adds lifestyle
richness to the loyalty journey, deepening member engagement and incentivising cross-destination travel.
At the same time, a growing base of loyal ASR members fuels demand for these differentiated resort
offerings globally — accelerating our resort expansion strategy with data-backed insights and a ready
community of experience-driven travellers. Ascott’s flex-hybrid model and multi-typology brand approach
allow us to scale trusted urban brands into resort destinations with local authenticity and operational
excellence, creating a virtuous cycle that benefits guests, members and property owners alike.”
Expanding Presence in Prime Resort Destinations
Ascott is broadening its footprint in popular leisure destinations with several new property agreements designed to provide diverse and experiential stays. In Thailand, the Ascott Abov Patong Phuket Resort will feature 254 rooms and a range of leisure amenities, including all-day dining, a rooftop bar, pool bar, swimming pool, spa, gym, kids’ club, and event spaces. The resort, located just 150 meters from the famous Patong Beach, is ideally situated in Thailand’s leading leisure hub, which attracts year-round tourists from various demographics. The resort’s design follows the brand’s philosophy of understated luxury, with a “Fine Arts Inspired by Nature” concept that blends tranquility, local artistry, and luxurious living. Additionally, the development includes Residences at Ascott Abov Patong Phuket, a 227-unit branded residence, with an expected completion in 2027.
In Vietnam, Ascott is expanding its resort portfolio with Somerset Nha Trang, located within the Libera Nha Trang development. This family-friendly resort will provide a trusted accommodation option in one of Vietnam’s most famous beach destinations. Citadines Selavia Phu Quoc, slated to open in 2027, will be a 369-unit beachfront property in a prominent mixed-use area along Phu Quoc’s southwest coast. The property will offer premium features like an onsen spa, all-day dining, and large event spaces. Meanwhile, HARRIS Resort Cam Ranh, located along Long Beach, marks Ascott’s debut of the HARRIS brand in Vietnam. The 693-unit resort, opening in 2026, is designed as a complete resort experience, including specialty dining, a beach club, water park, and meeting spaces for business travelers. This expansion into Southeast Asia signals Ascott’s continued focus on high-potential markets beyond Indonesia.
In Thanh Hoa, Vietnam, Lasong Hotel & Villas Sam Son by The Unlimited Collection began phased openings in April 2025, less than six months after signing. This resort, nestled along one of Vietnam’s most storied beaches, combines boutique hotel rooms, private villas, wellness amenities including a Korean jjimjilbang, and cultural dining experiences. This is Ascott’s second property under The Unlimited Collection in Vietnam, following the Anmira Resort & Spa Hoi An, reinforcing the company’s commitment to culturally immersive travel experiences in rapidly developing leisure destinations.
In Indonesia, lyf Labuan Bajo, Ascott’s first property in one of the country’s top eco-tourism hubs, will open in 2027. Situated near the UNESCO-listed Komodo National Park, this 120-key resort will introduce the lyf brand’s social living concept to Labuan Bajo, featuring communal spaces, coworking zones, and local experiences designed to connect and inspire next-generation travelers. Additionally, Ascott plans several other resort developments in Indonesia from 2026 to 2028. Oakwood Jimbaran Villas and Residences Bali will offer 57 units with direct access to Jimbaran Beach, while the Oakwood Premier Berawa Beach Bali, with 366 units, will feature upscale beachfront living in the Canggu district. Meanwhile, Oakwood Sanur Bali, set in the Special Economic Zone near the Bali International Hospital, will offer 180 units with ocean views, beach access, wellness-focused amenities, and event spaces.
In South Korea, Ascott is introducing the Oakwood brand to Lagoon Town, a resort complex currently under development in Gangneung’s Cultural Olympic Special Zone. The 500-key property, overlooking Gyeongpo Lake and Beach, will cater to the rising demand for leisure-focused extended stays along Korea’s picturesque east coast. With its proximity to Gangneung Station and just a two-hour trip from Seoul via KTX, it will serve as a prime retreat for both domestic and international travelers.
Ascott has introduced an asset-light strategy to expand its resort portfolio to 50 global destinations, meeting the rising demand for immersive travel experiences. This approach allows the brand to offer more personalized stays, blending comfort with local exploration, and catering to the evolving needs of modern travelers.
In the UAE, Al Mahra Resort by The Crest Collection will open in 2027 on Marjan Island in Ras Al Khaimah. The resort will offer 539 uniquely designed rooms and luxury suites with amenities such as all-day dining, specialty restaurants, bars, a spa, swimming pool, gym, kids’ playroom, and versatile event spaces, making it a standout destination for upscale beach getaways.
