(10 Jan 2022)
 
Ascott secured 15,100 units across 72 properties
globally in 2021, the fifth consecutive year the company has
achieved record growth in units organically despite COVID19
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.

Ascott also closed 2021 with its
highest-ever property openings, launching over 8,200 units in 40
properties across 25 cities and 10 countries – more than
double the units opened in 2020.

The properties opened in 2021
includes Ascott’s first Adoor-branded rental housing property, Adoor Apartment Heda Hangzhou (Xiasha) and its first lyf-branded
coliving property, lyf Mid-Town Hangzhou, in China.

Apartment at Somerset Sudirman Jakarta

Mr
Kevin Goh, CapitaLand Investment’s Chief Executive Officer for Lodging, said, “In
2021, Ascott continued with our strong growth trajectory despite
COVID19. Our record signings for the fifth consecutive year
anchors Ascott’s market leading position as an international
lodging operator. More than 80% of the new units secured in 2021
were under management and franchise contracts, in line with Ascott’s asset-light growth strategy. We also opened a record
number of units in 2021, readying ourselves for the recovery of
travel in 2022. The newly signed and opened properties will be a
welcome boost to our recurring fee income, as we build on this
momentum to meet our target of 160,000 units globally by 2023.”

Out of the 28 newly signed properties
in the last five months, 11 properties are located in China.
Ascott’s footprint in China is set to grow to more than 39,000
units in over 180 properties across more than 40 cities.

The company’s
resilient base of long-stay corporate guests and the strong
domestic leisure travel market have enabled Ascott’s serviced
residences in China to achieve robust occupancy rates. In 2021,
Ascott’s properties in China’s tier one cities Beijing, Guangzhou,
Shanghai and Shenzhen achieved an average occupancy rate of over
80%, exceeding the market average of around 57% for the same
period.

Ascott has also tapped on its expertise in the
extended-stay segment to expand in the rental housing sector in
China. In addition to opening its first rental housing property in
the country, Adoor Apartment Heda Hangzhou (Xiasha), the company signed
an Adoor-branded property in Xi’an in 2021 which is slated to open
in 2023.

Ascott’s expansion in the rental housing sector leverages
the growing demand from young and mobile professionals as well as
returning students from abroad who are seeking to rent
fully-furnished homes in the tier one and tier two cities on a longer-term basis in China. To date, Ascott has a total of 23
rental housing properties with over 3,200 units across 11 cities
in China and Japan.

Through the 28 newly secured properties, Ascott will expand its
geographical reach to new cities such as Boao and Sanya in China;
as well as Padang Pariaman and Tasikmalaya in Indonesia.

The company
has also entered Cameroon and Nigeria with the signing of its
first property in the capital cities of Yaoundé and Lagos
respectively.

In addition, Ascott will further strengthen
its presence in Melbourne in Australia; Vienna in Austria;
Guangzhou, Shanghai, Shenzhen, Tianjin, Wuhan, Wuxi, Xi’an and
Zhuhai in China; Addis Ababa in Ethiopia; Bandung, Bekasi, Jakarta
and Yogyakarta in Indonesia; Bangkok in Thailand; and Ho Chi Minh
(Saigon) in Vietnam. The properties are slated to open between 2022
and 2026.


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